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Medicare supplement insurance Plans M and N will be available for purchase with effective dates of June 1, 2010 and beyond.  These two new plans offer attractive coverage for those willing to exchange lower monthly premiums for higher out of pocket expenses. Both M and N are cost sharing plans. The insured will be responsible for additional …

April 8, 2010

Category: Medicare Supplements

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The recent passing and implementation of the Medicare Modernization Act created permanent changes to the Medicare supplement plans insurance companies can offer after June 1, 2010.  All plans are still in effect for 2012. Plans A, B, C, D, F, G, K and L offer nearly the same benefits as before with Plan F now …

February 18, 2010

Category: Medicare Supplements

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Gerber Life is now offering Medicare supplement insurance in California. This is the same well known and well rated Gerber Insurance Company that offers life insurance to children. Gerber Medigap plans are priced quite competitively and in many areas they are the best rates available for those over age 65.  Consumers can request personal quotes from …

January 5, 2010

Category: Medicare Supplements, Retirement Planning

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It is quite common for new carriers to enter the Medicare supplement marketplace every year. One of the newest entrants is Assured Life.  These plans are underwritten by Mutual of Omaha. The monthly premiums are very competitive in the states where they currently offer coverage.  Arizona and Ohio residents over age 65 will find their rates …

December 14, 2009

Category: Medicare Supplements

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A bankruptcy judge recently approved Delphi Corporation’s reorganization and subsequent request to terminate life and health insurance benefits to many of its retired employees.  Benefits could be lost as soon as April 1st for the affected retirees. Former salaried employees will need to explore all available options in order to maintain medical coverage. Medicare Supplement …

February 25, 2009

Category: Medicare Supplements

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Medicare has many gaps and will not pay for all of your health care related claims. For this reason, many Medicare recipients purchase a supplemental plan to fill in all or the most common gaps. The chart below details ten standardized Medigap plans and explains the different available coverages. It is important to note that private …

February 10, 2009

Category: Medicare Supplements

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There are several events that guarantee a consumer’s right to purchase Medicare supplement insurance coverage. It is important for seniors to take advantage of these periods or they may no longer qualify medically for enrollment. Listed below are the most common occurrences that allow for guaranteed eligibility into a supplemental plan as well as rules …

October 27, 2008

Category: Medicare Supplements

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The bankruptcy of General Motors Corporation has forced the cancellation of health insurance coverage for many retirees. The changes will be effective January 1, 2008 for former employees. The good news for G.M. retirees over the age of 65 is that they will be in a “guaranteed issue” period for Medicare supplement and prescriptions Part …

October 16, 2008

Category: Medicare Supplements

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When researching Medicare supplement insurance policies, you may have questions about the various ratings classes. There are three to choose from: Attained Age, Issue Age and Community Rated. We will examine all three and discuss the nuances of each below. It’s important to note that each class has it’s own pros and cons. There is …

March 12, 2008

Category: Medicare Supplements

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Your Medicare open enrollment period is a seven month window. It includes the three months prior to, the month of and the three months after your 65th birthday. It is advantageous to consider purchasing a supplemental plan during this window of time. That might be a Medicare Supplement, Part D drug plan, or Medicare Advantage …

February 14, 2008

Category: Medicare Supplements

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Medicare Advantage plans are relatively new products in the insurance marketplace. In a nutshell, they allow consumers to opt out of traditional government provided Medicare coverage, forgo Medicare Supplement coverage and enroll in a Medicare Advantage plan with a private insurance company like Anthem Blue Cross, Aetna, Humana or United Health Care. Advantage plans are …

December 6, 2007

Category: Medicare Supplements

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Currently there are only a few states allowing insurance companies to offer Medicare Supplements to those under the age of 65. Due to legislative changes, California, Georgia, Florida, Illinois, Missouri, Pennsylvania, Texas, and Tennessee are such states. Just like those reaching age 65, those who qualify for Medicare due to disability will have an open enrollment …

August 22, 2007

Category: Medicare Supplements

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Yes, you should consider all of your options when turning age 65. However, if you have group insurance through work, you may be able to defer your Medicare and supplemental enrollments until retirement. Your group size matters here. When you enroll in Medicare Part B, consider secondary insurance too. You’ll want to supplement what Medicare …

November 10, 2006

Category: Medicare Supplements, Retirement Planning

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