R W Evenson Inc. Blog | Topeka, KS

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R W Evenson Inc

3310 SW Harrison Street

Topeka, KS 66611

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By rwevenson91601593, Dec 8 2017 07:33PM

When a person obtains Part A and Part B of Medicare they purchase a Medicare supplement contract from an insurance company. Medicare supplement insurance can help cover the expense's that Medicare approves but does not pay. Medicare supplement plans are standardized and must follow both federal and state laws. Plans are identified by letters- A,B,C,D,F,G,K,L,M &N and it does not matter which insurance company you purchase your plan through all plans identified by the same letter have the same benefits. Medicare Select may be an option for some beneficiaries. Medicare Select policies are just like the standardized plans. However each Select plan has specific hospitals and, in some case, doctors that you must use to be eligible for full benefits (medical emergencies are an exception). If you do not use the narrow network, Medicare will still pay its share of approved charges. However, the Select plan would not be required to pay any benefits. Premiums maybe lower because you are using a narrow network of hospitals. To Select or Not to Select, To save a few pennies now or many dollars later.

By rwevenson91601593, Sep 8 2017 08:51PM

BOOM! With 10,000 baby boomers turning age 65 every month until 2030, the markets for Medicare Supplements and Medicare Advantage Plans are set to explode! As a result, many insurance companies wanting to sell their Medicare plans will be contacting individuals becoming eligible for Medicare. Yes, competition is a good thing but proceed with caution. Do not let a cheerful voice on the phone be the reason you choose one plan over another. Beware of Teaser rates as well. Doing your homework and a little research will pay off. Consider asking the following questions about any Medicare plan you are considering: 1. How long has the company been in the Medicare insurance market 2. What is the company's history of adjusting policy rates 3. Is there a select list of hospitals, physicians, or pharmacies you access for medical care or prescriptions 4. What is the company's complaint ratio with the Kansas Insurance Department 5. What is the agent's complaint ratio 6. Is customer service handled only by telephone or internet, or is there a local agent who can assist you. Lastly ask for references and talk to others who are already enrolled in the Medicare plan you are reviewing. With so many choices, thousands of new customers are searching the internet or seeking advice from unreliable sources about Medicare plans. Use a reputable agent to help select the right plan for you.

By rwevenson91601593, Jul 27 2017 07:12PM

In the next few months, you will notice a large number of television commercials talking about the 2018 Medicare Open Enrollment Period, also referred to as the Medicare Annual Election Period. What exactly is the annual open enrollment period and how does it affect you? Every year between October 15 and December 7, Medicare beneficiaries may make their annual election concerning Medicare Part C (Medicare Advantage) and Part D (Prescription Drug) coverage for the following calendar year. During open enrollment period, a Medicare beneficiary can make the following elections: 1. Switch from Original Medicare to a Medicare Advantage Plan. 2. Switch from a Medicare Advantage Plan to Original Medicare. 3.Switch Medicare Advantage Plans. 4. Add, switch, or drop Prescription Drug coverage with Original Medicare. Towards the end of September, beneficiaries enrolled in Medicare Part C or D will receive a 2018 renewal packet in the mail. Do not disregard this envelope. Carefully review its internal materials. A Medicare Advantage Plan or a Prescription Drug Plan can make certain changes every year. For example, the premium, benefit coverages, and/or provider networks may change including participating physicians and preferred pharmacies. By reviewing the material, a beneficiary can consider staying in their current plan (if still offered) or changing to a new plan that better fits their needs. Changes will take effect on January 1 of the next calendar year. Think of open enrollment as the annual time to review your Medicare coverage. There are many choices to consider and all beneficiaries should be fully informed about the various options. Always feel free to call us.

By rwevenson91601593, Jul 24 2017 06:20PM

Medicare Advantage Plans, also called Part C, are private insurance plans approved by Medicare. With a Medicare Advantage Plan, Medicare pays a fixed amount to an insurance company each month and the insurance company assumes all the risk associated with payment of healthcare claims. If you join a Medicare Advantage Plan, you are still enrolled in Parts A and B. However, your coverage will be through the Medicare Advantage Plan and not Original Medicare. Medicare Advantage Plans must follow the same rules set by Medicare and must contain all the benefits covered under Medicare A and B. Medicare Advantage Plans my offer additional benefits such as dental, vision, hearing coverage, gym memberships, etc. Prescription drugs may or may not be included in the Medicare Advantage Plan. LIke Original Medicare, a Medicare Advantage Plan will most likely have deductibles and copayments. In addition, the plan usually incorporates a provider network into the benefit design. Medicare Advantage Plans may have a monthly premium and will contain an out-of-pocket limit on cost share. Out-of-pocket amounts usually vary between in-network vs. out-of-network providers. However, there is always coverage for urgent or emergency care. Part C has an open enrollment period each year. This gives a Medicare benefitciary the opportunity to evaluate all the plans available for the next year. A Medicare Advantage Plan my make annual adjustments to premiums, benefit coverages, participating providers and preferred pharmacies, to name a few. Medicare Part C may or may not be the right choice for you.

By rwevenson91601593, Jul 18 2017 07:13PM

If you have been approached by an insurance agent or company stating Plan F is going away in 2020 and not to purchase one now or to change your existing coverage BEWARE. Medicare Access CHIPReauthorization Act (MACRA) of 2015 prohibits the sale of Medigap Plan F and C beginning in 2020. That prohibition only applies to newly eligible Medicare beneficiaries. Congress did not prohibit the sale of these policies to people who were already eligible or enrolled in Medicare before 2020.

Many seniors like Plan F because it pays the Part A and B deductibles of Medicare. All they need to remember is to pay their premium and make sure the claim is an approved claim from Medicare. Marketing of other supplement plans like Plan G is being done heavily because, for some insurance companies, Plan F premiums are too expensive in the marketplance. Only their Plan G premium can compete. Or, maybe a sales representative only sells price and not benefits. Remember, saving a penny today could cost you a dollar at some point.

Again, beware, only people who become eligible for Medicare on or after 1/1/2020 are affected by the change. If you have Plans C or F, you can keep it.

Ethics is the base from which we operate and the reason we are in business is to serve the public.

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