Seniors, can we talk?
Betty called and asked if she and some of her friends could meet with me – kind of a “lunch and learn”. They each had concerns and questions. Betty’s four (4) friends shared their situations – you may be in the same situation as one of these ladies. Edwina was very concerned because her Medicare Supplement plan had been cancelled. Her bank draft was returned from the bank “unpaid”. How did that happen when Edwina said there was money in her account? Why didn’t she reply to the letters she got from her insurance company? Now she has to answer questions based on her medical history to get another plan. Fortunately she’s still healthy and she now has another Medicare Supplement plan. It irritated Bobbie when her Medicare Supplement premium increased so she cancelled her policy. Now she only has Original Medicare. Two weeks ago she had to go to the hospital and just received a large, unexpected hospital bill. She’s had time to think about this and is very concerned. I encouraged her to ask about options when her premium increases. Bobbie now knows that all premiums may increase, talk with your agent before you cancel anything and ask what options are available that are within your budget. Mary enrolled in a Medicare Advantage plan because the premium was lower than a Medicare Supplement plan and the copays were affordable. The agent told her it was a “good” plan. Ouch! (CMS does not allow an agent to use “good”, “bad”, “better”, etc. when describing a plan.) The first time Mary went to the doctor she found out her doctor does not accept her plan. Another Ouch! So Mary cancelled her plan and only has Original Medicare. Because Mary has medical conditions, the Medicare Supplement plan that she qualifies for now has a premium that will cause her to re-adjust her budget. The plan pays what Medicare does not so at least she knows her monthly insurance expenses will only be her premium. Poor, Sue. When she turned 65 and became eligible for Medicare Part A and Part B, Sue didn’t realize there was an enrollment period during which she could get a Medicare Supplement plan that was guaranteed issue. This initial guaranteed enrollment period meant no medical questions would be asked and that she was guaranteed that a policy would be issued. Fortunately, Sue is in good health and could get a Medicare Supplement policy. Sue was a little nervous thinking about what could have happened if she had not talked with Ruth. Ruth has certainly come a long way since Bob died. She has gone out of her way to talk with Medicare beneficiaries and to try to help them. As she said when she and “the girls” left my office, “Edwina, Bobbie, Mary and Sue, pay attention to your mail, ask questions before doing anything, if it sounds too good to be true, it may be and call Caroline with any questions.” Thank you, Ruth. Originally Published June 2015
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AuthorCaroline Beauchamp specializes in personalized life and health insurance solutions. Archives
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