Seniors, can we talk?
It’s too late, or is it? I got a phone call December 8th to review a Medicare Prescription Card. Since the enrollment period ended December 7, they were one day late. If you missed this enrollment period, there’s next year October 15 through December 7. As always there are exceptions. You may qualify for a Special Election Period. A few of these exceptions are if you are new to Medicare, leaving employer group coverage, have both Medicare and Medicaid or get Extra Help paying for prescription drug coverage. This is the first year Ruth has gone through this enrollment period by herself – last year Bob handled it. Ruth survived – she reviewed her prescription plan and enrolled in a new one. During the enrollment period several asked if their plan would pay for their dental expenses or if their plan covered glasses. First thing to know is what plan you have. Original Medicare does not cover dental or vision. If you have a Medicare Supplement plan which “supplements” or “fills in the gaps” of what Medicare does not play, your Medicare Supplement plan will not cover dental or vision. To have your “mouth” covered you can enroll in a dental policy that specifically provides dental benefits. Some Medicare Supplement plans do include an annual routine eye exam and provide a small discount on glasses. To have your frames, lenses or contacts covered with co pays and allowances, you’ll need to enroll in a vision plan. If you have a Medicare Advantage plan, this actually replaces Original Medicare. Medicare Advantage plans may provide an annual dental check up. Typically they do cover any other services – those expensive things like crowns, partials, dentures. An annual vision exam may also be covered with a specific dollar amount allowed for lenses, frames or contacts. Even with a Medicare Advantage plan you may want a dental plan – did you know crowns are about $1000! Do you and your friends talk about your insurance plans? Ruth’s lunch group met the other day. Susie, Ruth’s friend, called because someone said their Prescription Plan premium was about $18 a month. Since Susie is paying $41, everyone thought she was paying too much. After talking with Susie, I found that Susie has a Medicare Advantage/Prescription plan – not just a Prescription Plan by itself. If you do not understand what your plan covers, call your agent and ask questions. Don’t make changes without knowing the details. Everyone has a budget and premium/cost is important. Be careful not to enroll in a company based only on price. If the plans are the same (like Medicare Supplement plans) and the premium is a lot lower than other companies, wonder why they can offer such a low rate and other companies cannot? Will you get a big increase in your premium later to make up for that low premium and not be able to change? Got questions or just need to talk? Call me at 870-523-6771 and say “Caroline, can we talk?” Originally Published December 2014
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AuthorCaroline Beauchamp specializes in personalized life and health insurance solutions. Archives
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