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Posts tagged ‘Medicare Insurance’

Your Most Important Medicare Goal

You have one goal when choosing a Medicare plan that far outweighs any other goal.

That goal is as follows:

At some point in your life - and I hope it never happens - you may be diagnosed with a serious health condition for which you want to use the doctor or hospital with the most experience and expertise for your condition and who therefore gives you the best chance for the best health outcome. If this happens, you should be able to get this care as soon as possible with little or no cost.

Being a doctor is a noble profession. But a doctor is not a commodity. Some doctors simply have more experience and expertise for certain conditions than others.

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Choose the Medicare Supplement Company …Not the Initial Price

Almost every day I receive a request from someone who is about to go on Medicare to provide them with Medicare Supplement quotes for their area.

While I am happy to do this, I always feel the quotes I am providing to them are misleading.

The reason for this is there is virtually no relationship between the monthly premium you pay for a Medicare Supplement at age 65 compared to other carriers and what you will pay over the course of your lifetime.

In many situations, the Medicare Supplement carrier with the lowest premium at age 65 will cost much more than other carriers both in the near future and the rest of your life.

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Employer Coverage Or Full Medicare? How To Decide

The question I receive more than any other when someone is turning 65 and becoming eligible for Medicare is "What do I do about Medicare if I am still working and have coverage through my employer?

There are several different issues to consider when answering this question.

The first thing to know is when you turn 65 and are still working, you have a choice between staying on your employer's coverage or leaving that coverage and going on full Medicare.

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Do I Really Need a Medicare Drug Plan?

I am often asked the following question "Charlie, I don't think I need a Medicare Part D drug plan. I don't take any medications. Can't I just add that later if I ever need it?"

Regardless of whether you take several expensive medications or take no medications at all, almost everyone on Medicare needs to enroll in a Medicare Part D drug plan.

There are three primary reasons you need a Medicare Part D drug plan even if you take no medications:

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Will Your Medicare Plan Be On Your Side Against Cancer?

I hate cancer.

I vividly remember as a 12 year-old being in the surgery waiting room at Baptist Hospital in Memphis, Tennessee on a snowy January day. My dad - my best friend, my baseball coach, my golf teacher and playing partner, my fellow history buff and my hero - was undergoing surgery for a supposedly benign tumor in his kidney. (The picture above is my dad and me from around 1969)

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Do I Really Need a Medicare Drug Plan?

I am often asked the following question "Charlie, I don't think I need a Medicare Part D drug plan. I don't take any medications. Can't I just add that later if I ever need it?"

Regardless of whether you take several expensive medications or take no medications at all, almost everyone on Medicare needs to enroll in a Medicare Part D drug plan.

There are three primary reasons you need a Medicare Part D drug plan even if you take no medications:

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The Medicare Musical Chairs Trap

I received a call from Bruce in Ohio last week.

Bruce is 69 years old and was diagnosed with Atrial Fibrillation two years ago. He has only had two episodes of an irregular heart beat and feels he has the condition well-managed with a medication called Xarelto.

The reason Bruce was calling was the Medicare Supplement he had chosen when he turned 65 had increased its premium nearly 50 percent in four years.

Charles Bradshaw
Unfortunately, Bruce was now unable to leave this plan for a less-expensive Medicare Supplement because the Atrial Fibrillation caused him to be declined when he applied for a different Medicare Supplement.

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Medicare choices today may matter more later

I have been privileged to help several thousand people who were going on Medicare understand their Medicare options so they could make the right Medicare decision for them.

While many people I help understand the long-term implications of the choices they make when they first go on Medicare, I often talk with someone who does not yet realize the Medicare choices they make when they first go on Medicare are often long-term rather than short-term decisions.

The conversation will often go something like this...

"Hi Charlie...this is Robert. I am turning 65 and going on Medicare next month. I need to decide what Medicare plan I need. I am in good health, take no medications and only see a doctor once or twice a year."

If I were helping this same person with his property insurance, the same logic would go something like this...

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Enrolling In Medicare Online

In today's internet-savvy world many people prefer to make their own decisions about Medicare without feeling pressured by someone on the phone or even a stranger sitting at their kitchen table.

The good news is you can do just that with all four major parts of Medicare - Medicare Parts A and B, your Medicare Supplement and your Medicare Part D Drug Plan.

To enroll in Medicare Parts A and B - or Medicare Part A only - all you need to do is go to www.socialsecurity.gov.

You can click on the following link to get detailed instructions on how to enroll

Click here for instructions for enrolling in Medicare online

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The Most Important Fact To Know About Medicare

If you do not enroll in a Medicare Supplement when you first go on Medicare, you may never to able to get one.

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Choose the Medicare Supplement Company …Not the Initial Price

Almost every day I receive a request from someone who is about to go on Medicare to provide them with Medicare Supplement quotes for their area.

While I am happy to do this, I always feel the quotes I am providing to them are misleading.

The reason for this is there is virtually no relationship between the monthly premium you pay for a Medicare Supplement at age 65 compared to other carriers and what you will pay over the course of your lifetime.

In many situations, the Medicare Supplement carrier with the lowest premium at age 65 will cost much more than other carriers both in the near future and the rest of your life.

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Why Humana Spends So Much Advertising Its Private Medicare Plans

During this time of year, you see what seems like non-stop television advertising trying to persuade you to enroll in a for-profit, restricted access, Managed Care Medicare Advantage plan.

One of the companies that seems to spend the most is Humana touting its "All-In-One" Medicare Advantage plan.

After a while, it becomes obvious these companies must be making a lot of money off of their for-profit, managed-care Medicare plans to be able to spend so many millions of dollars advertising them.

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