Choosing a Medicare Plan… There’s a LOT to Consider!
There is a lot to consider, like: What insurance do you have now? Does your employer offer any options when you retire? How does your choice affect your spouse/partner? What medications do you take and what will they cost on a Medicare plan? Do you have any upcoming...
Original Medicare Part A and Part B Enrollment
Initial Enrollment Period when you’re turning 65. Your enrollment in Medicare might not be automatic. Drawing Social Security? Not Drawing Social Security? Do I need to sign up or will I be automatically enrolled? Medicare start day is always the first day of the...
Know What You Don’t Know
At MediBearCare, we believe that choosing a Medicare plan should be the by-product of a thoughtful process. We have helped more than a thousand of your neighbors find their best solution, and we can help you, too. In our experience, most people don’t want to become...
Medicare Part D: Prescription Drugs
Stand Alone Drug Plans vs Advantage Plan Drug Costs. Prescription Drug Plans are available as stand alone Part D or as part of a Medicare Advantage Plan. Drug plan premium is not the only consideration. You must also consider co-pays. TOTAL COST IS KING! (Premium +...
Medicare Advantage Plans Considerations
Managed Care Systems HMO (local) PPO (regional) Premium? Medical Deductible? Co-Pays? M.O.O.P.P. (Maximum Out Of Pocket Protection Limit) Ancillary Benefits: SOME include hearing, vision, gym membership, transportation to and from facilities, etc. (vary) There is a...
The “Sunk Cost” Trap
“I’ve put this much into it, so I’ve got to hold on to it until it pays off” is the Sunk Cost Trap. A Medicare supplement was once the only option for protection against the holes that Original Medicare leaves behind if beneficiaries have just Original Medicare and no...
MYTHS about Medicare Advantage Plans
There is a lot of confusion regarding Medicare Advantage plans. We have heard many myths and cleared up many misunderstandings for our clients. We hear things like: “You do not have coverage if you travel” “you get what you pay for,” “it’s too good too be true” and we...
How Medicare Part B Giveback Plans Work
How do giveback plans work? The insurance company reimburses a portion of your Part B premium, so they’ll take less out of your check every month. Part B Givebacks are coordinated through your Social Security and Medicare Part B premium payments. Part B giveback plans...
Secondary Insurance (aka Supplement or Medigap)
Secondary Insurance Medicare supplements (Medigap or secondary) insurance plans are available in a standard format based on alphabet letters. The Plan Letter = Benefits (All Plan Gs, for example, regardless of the company offering the plan, have exactly the same base...