It was a cold, fall day and Ruth made chili and cheese dip – just perfect! She treated me along with three (3) friends to a wonderful lunch.
Since it is the Annual Election Period (AEP) for Medicare beneficiaries, the subject of Medicare, prescription drug plans and dental insurance came up. The AEP does cause people to review or think about their insurance. (Including dental insurance which does not have an enrollment period.) It is interesting to listen to the concerns people share that they didn’t have before or issues that didn’t bother them before or changes over the last 12 months. Sarah told us her husband had a heart attack the end of October and is waiting on a quadruple bypass surgery! His medications will change and now they will be able to review and update his prescription plan during this AEP. The drugs a plan covers, the copays you pay for those drugs and whether a pharmacy is preferred (lower copays) or standard changes every January 1. Some people are changing prescription plans because in 2022 their pharmacy will not be preferred, and the cost of their prescriptions is increasing. Peggy said she was concerned for Sarah about the cost of this big surgery. Sarah took a deep breath and said she was thrilled with their Medicare health insurance. Her husband has a Medicare Supplement plan that will pay for everything! When you are concerned about a procedure or your health in general, the last thing you need to worry about is medical bills, right? Ellen said she also has a Medicare Supplement plan that she loves. The benefits are great, and she never has to pay anything. But the premium has increased a little every year so now the premium is difficult to handle in her budget. Someone told her she would have to answer medical questions to change to another Medicare Supplement plan. With her medical history she is concerned she would not be accepted. Someone else told her to look at a Medicare Advantage plan. Ellen likes the low premium but does not like the Medicare Advantage plan because she may have to pay copays, must see a provider in their network and could be out of pocket over $5000 in a year! Good news - there is a company that offers a guaranteed issue Medicare Supplement plan – you cannot be turned down. And the premium is lower than what she’s currently paying. (We met and submitted an enrollment form. Ellen is thrilled that she was accepted and with a premium that is $84 a month less than what she has been paying. Yes, the same coverage.) What else is going on with them? Peggy is having an implant ($2300) and a cover ($1500) – more than the benefits in her dental plan. Now what? Peggy is concerned about all these commercials with free “stuff”. Yes, ask details. What is the “cost” of the free “stuff”? Concerns? Call me at 501-868-6650 and say “Caroline, can we talk?”
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AuthorCaroline Beauchamp specializes in personalized life and health insurance solutions. Archives
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