MYM Podcast 38: 2016 Edition Released

The 2016 Edition of Maximize Your Medicare is available NOW. Is a new edition really necessary? Yep.

Subscribe to the Maximize Your Medicare Podcast click HERE.

MYM Podcast 29: Radio Interview, Annual Election Period Edition

Radio Interview, Annual Election Period
I have been doing a lot of radio interviews recently, New York, Los Angeles, Pittsburgh, et al. Art Lewis and I have spent over 6, 1-hour sessions together. Our latest was this past Saturday, and we discussed the Annual Election Period.

Listen to the podcast here.

Subscribe to the Maximize Your Medicare Podcast here: Click here to Subscribe

MYM Podcast 26: How to Get Started on Medicare

FREE Android App Available Now
If you don't know where to start, or are too embarrassed to ask, or want to help someone in your life, then start with this free Android app.

Simple as You Like....
You enter your date of birth, and answer some questions about your existing coverage (employee, retiree, married, etc). No personal information stored. Ever.

You get your personalized calendar and your questions answered (even if you didn't know what to ask)...
Your Medicare Open Enrollment Dates
Is it Annual Election Period?
Can I make changes now?
Personalized Report, based on your answers to simple questions

Who Can Use This? 
The obvious: those that are turning 65, those that don't know when Medicare begins, those that don't know when to enroll, those that don't know what their rights/options are, those that are married with full-time working spouses, those....get it? Pretty much anyone, anytime.
The not-so-obvious: those with senior parents who don't know how Medicare works, caregivers that need to have background information about Medicare for their patients/clients, those that have employer coverage changed or cancelled, those that pay many hundreds of dollars a month to continue with employer-based retiree plans, those...get it?

Why?
a. Many people aren't asking, when they should be....
b. Many people think they are "stuck," when they aren't....
c. Many people want to help their senior parent, but their senior parents can't / won't talk about getting older....
d. Many people think they cannot "afford it," when there are many options available...
e. Many people don't want to feel "dumb"...Medicare is confusing to almost everyone.
The app is free and you can use it as many times as you want, so that you are on the right path, so that you have an idea about what to consider, so that you can avoid unintended consequences resulting from uninformed choices.

Get it here:
A. Scan this QR code into your Android app (Google Play app):

B. Click here.

MYM Podcast 23: Just the FAQs

"I Don't Know Where to Start"
If you are turning 65 years old,

If you have a Medicare-eligible parent that you want to help,

If you face healthcare costs you don't understand under Medicare,

If you need information that you can use, in language that you can understand,

"I'm All Set": Probably Wrong

a. Employers change (or eliminate) retiree benefits
b. Medicare Advantage and Medicare Part D (Rx) change every year
c. PPACA means that pre-Medicare family members can get private insurance
This is just for starters...

Monday, June 16, 5PM EDT

I have conducted this program everywhere (libraries, senior centers, conferences, senior programming at colleges), with all types of audiences.

You can see a short list on other pages of this blog.

I will leave my phone number on during the broadcast, and you can bring me your questions. 

$2.99 PPV Webcast
Just click here to register.

I need to charge because the host charges me, and I want to keep the spammers out.

Listen to me speak about the webcast:

Subscribe to the Maximize Your Medicare Podcast here: Click here to Subscribe

MYM Podcast 18: Radio Interview WNPV with George Toth, CFP

Radio Interview, April 21, 2014
Every financial planner has his/her own perspectives. You can listen to my comments on Medicare here. The focus is on correct enrollment, and the penalties that can occur.

You can listen to this episode here.
You can subscribe to this podcast here.

MYM Podcast 7: Can I Still Sign Up for Medicare Part B (Yes) and....

Let's Say You Never Enrolled in Medicare Part B

Let's Say You May Want to Switch from Medicare Advantage to Medigap.

Your time is coming up soon, January 1, 2014. You don't have that much time to decide, so it is best that you know your options beforehand.  You can listen to details here.

Subscribe to the MYM Podcast:
iTunes
Everything else

MYM Podcast 4: Observation Status Correctly Explained

Outpatient Hospital Rules Have Changed

For some unknown reason, newspapers and local TV stations continue to report that this is a problem. Don't get me wrong, it remains to be the source of confusion. HOWEVER, the story should be that the rules have improved substantially, and that if you stay over two midnights, then you will be presumed to have "inpatient" status, thus avoiding much of the controversy. Click here to listen.

Medicare ABCs Webinar/Q&A Dec 2 7PM EST

Monday, December 2, 2013: 7PM EST

Register by clicking here.

If you don't have the time, you will be sent the recording anyways (I will send it out to all those that purchase the session). The drawback: you won't be able to send in your questions. I will also be answering questions via Skype during that time.

You May Already Understand Medicare, but....

I promise that someone you know very well doesn't, like a spouse (!), friend, relative, neighbor. This is not the typical social/financial issue. When your neighbor doesn't understand Medicare, doesn't protect him/herself, then YOU will be a payer at some point in time. One reason that healthcare costs challenge the nation: the financial risk to the system is made much worse when people cannot pay their medical bills. This is, in many cases, avoidable. Medicare is the single best value for the money for those that are eligible: the pricing of Obamacare-compliant plans is revealing that very fact. The point? 

Libraries, Colleges, Talk Radio, and More

Maximize Your Medicare is part of library systems throughout the country, but the fact is that some people won't read a book (sigh). To some degree, I can understand that a verbal explanation is superior. Then, the problem is that it is very difficult to know who to trust, and to know whether that person is motivated for other reasons, or to know if that person is qualified. 

Simple session, you can make your own determination about the information that I will provide, and the information that you can use. One more thing: I won't be recommending any particular carrier or plan. 

You can click here to see the many places that I have been, and will be, in the coming days and months. There are also links to comments that I have made on talk radio as well. 

Can't Be Free (Sorry)

There is however, a money-back guarantee. I am pretty certain that you will receive your $2.99's worth. The reason for the upfront fee: keep out spammers who will do nothing that send out peculiar messages, pictures, and slow down the connection. No one said anything about multiple viewers in the same room, however....

Happy Holidays to Everyone!

Medicare ABCs LIVE Webinar

Monday, August 29th, 11:00AM (EST)
Some people would rather have a verbal explanation, because a book may create followup questions. Some people don't know where to begin to ask. I wrote Maximize Your Medicare to address this, and the audience is enormous: more than 9,000 will turn 65 everyday in the United States. This will continue for most of the next 2 decades.
You Can Ask Me Questions LIVE
I will go through Medicare and explain its components. I will explain how it differs from health insurance that many have been used to. I have done so at libraries, senior centers, and on talk radio shows. I have heard and seen the level of uncertainty on people's faces and in their voices. Adult-age children need to have this information: you get pulled into the situation, and usually (unfortunately), under unfavorable circumstances. Caregivers face questions continuously regarding what Medicare covers, and what it does not.
Money Back Guaranteed
At $3.99, it is inconceivable (to me, I am biased) that you will not get your money back. There will be information that is not widely known, until it may be too late. Frequently, this could have been avoided. In any case, if you join the Webinar, and find that it isn't worth the $3.99, then I will refund your money. Guaranteed.

$3.99 Medicare ABCs Live Video Webinar

 

 

More information can be found here.

This Happens: Medicare Advantage Cost Sharing Worse Than Original Medicare

Medicare Advantage Plans Are Approved by the CMS

Every year, Medicare Advantage plans of all types are approved by the Center for Medicare and Medicaid Services (CMS).  Every plan must be at least as good as original Medicare, i.e. those plans which include prescription drug benefits needs to be at least as good as Medicare Part A, Part B and Part D.  

"At Least As Good" Means....

Here is the issue.  When the CMS approves plans, these plans must be at least as good as original Medicare, which is defined as the actuarial equivalent.  What does that mean?  It means that statistics are used to determine that the Medicare Advantage plan is at least as good as original Medicare, on average.  That does NOT mean that your Medicare Advantage plan is better than original Medicare for each particular benefit.  You can (rightfully) ask:  What in the world does THIS mean?

Example: Skilled Nursing Facility Care

I am not going to point out insurance companies; it is not the point of the blog, or the book Maximize Your Medicare, to point out specific companies or specific policies.  However, here is a real-world example.

Original Part A Skilled Nursing Facility Care:

0-20 days:  $0.  Medicare pays.

20-100 days:  You pay the first $148 per day in 2013, Medicare pays the remainder.

100+ days:  You pay 100%

Medicare Advantage Example:

0-20 days:  $50/day copay.

20-100 days:  $150/day copay.

This Happens

If you stay at a skilled nursing care facility for 100 days, it is entirely possible that you will pay $1160 more than under original Medicare.  

Get Maximize Your Medicare, Get Informed

These small details seem insignificant, right?  Tell that to the subscribers of this plan in 2013, who are admitted to a Skilled Nursing Facility. I cannot fix this, and neither can you, other than to become informed every year, to check every year, to protect yourself to the best of your ability.  

You want $9.99 of value?  There it is, free, and there are many, many more examples of this in Maximize Your Medicare.

Medicare 2013 Premiums Announced

Medicare 2013 Cost Sharing
The Center for Medicare and Medicaid Services (CMS) has released the cost sharing details for 2013.   The tables in this blog will be updated in very short run.  Here are the highlights.

Part A Deductible: The deductible will increase from $1156 to $1184.  This is the amount per benefit period.  A very important explanation and illustration of what this entails is included in the book, Maximize Your Medicare.

Part A Hospital Stay:  The copay for days 61-100 have increased to $296/day.
Part A Hospital Stay:  The copay for days 101-150 have increased to $592/day.
Part A Hospital Stay:  The copay for days 151+ remains at 100%.  Medicare pays $0.

Part A Skilled Nursing Facility:  The copay for days 20-100 have increased to $148/day.

Part B Premium:  The base rate will increase from $99.90 to $104.90.
Part B Annual Deductible: The annual deductible will increase from $140 to $147.

Note:  Your rate may be higher than this if you make over $85,000 per year.

The table of premiums, copays, and coinsurance can be found here.