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Medicare Blog | Medicare News | Medicare Information

Mutual of Omaha: New Montana Med Supp Rates

Posted by www.psmbrokerage.com Admin on Tue, Nov 12, 2019 @ 10:40 AM

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Tags: Medicare Supplement, mutual of omaha

Mutual of Omaha: Just in time for AEP business - HOT new Med Supp rates in VIRGINIA

Posted by www.psmbrokerage.com Admin on Tue, Nov 12, 2019 @ 10:25 AM

Additional Updates:
 

Tags: Medicare Supplement, mutual of omaha

Why Sell Capitol Life's New Medicare Supplement Plans?

Posted by www.psmbrokerage.com Admin on Thu, Oct 31, 2019 @ 10:59 AM

Why Sell Capitol Life's New Medicare Supplement Plans?

Additional Updates:
 

Tags: Medicare Supplement, Capitol Life

Selling Mutual of Omaha Med supps during AEP just got easier

Posted by www.psmbrokerage.com Admin on Tue, Oct 29, 2019 @ 09:43 AM

Selling Mutual of Omaha Med Supps during AEP just got easier

Additional Updates:
 

Tags: Medicare, Medicare Supplement, Mutual of Omaha Medicare Supplement

Medigap FAQs: Answers to Your Questions on Plan F Closure

Posted by www.psmbrokerage.com Admin on Mon, Oct 28, 2019 @ 11:51 AM

Medigap FAQs: Answers to Your Questions on Plan F Closure

Additional Updates:
 

Tags: Medicare, Medicare Supplement

Scheduled Maintenance For HealthCare.gov

Posted by www.psmbrokerage.com Admin on Thu, Oct 10, 2019 @ 01:37 PM

Scheduled Maintenance For HealthCare.gov


CMS released its
scheduled maintenance windows for HealthCare.gov for the impending open enrollment period. As in recent years, open enrollment is 45 days long; from November 1 to December 15.

Maintenance for HealthCare.gov is scheduled for pre-dawn on November 1 (final prep ahead of  open enrollment) and each Sunday from midnight to noon, EST, except on December 15.

Federal officials selected Sunday mornings because it’s when the website receives the least amount of traffic. During any website downtime, HealthCare.gov will be unavailable.

As in prior years, CMS anticipates actual maintenance periods will be much shorter. Despite the allocation of 60 hours for maintenance last year, the website was down for only 
34.5

Photo by Freepik

 
 

Tags: Medicare Advantage, Medicare, Medicare Supplement, Medicare Part D

Medicare Pays for 1/3 of U.S. Prescription

Posted by www.psmbrokerage.com Admin on Tue, Oct 08, 2019 @ 03:02 PM

Medicare Pays for 1/3 of U.S. Prescription

The majority of Medicare voluminous prescription drug spending is for drugs covered under Part D, although Part B also covers medicine; this spending accounts for 30 percent of national retail spending on drugs, and nearly $1 out of every $5 in total Medicare spending. 

medicare drug spending chart


Prescription drugs are an important component of health care for Medicare beneficiaries, which includes more than 60 million older adults and people with long-term disabilities.

The majority of Medicare prescription drug spending is for drugs covered under Part D, the outpatient prescription drug benefit. Medicare Part B also covers drugs that are administered to patients in physician offices and other outpatient settings.


A majority of Americans favors allowing the federal government to negotiate prescription drug prices on behalf of Part D beneficiaries;
the practice is prohibited under current law.


View Full Article

 
 

Annual Enrollment Period (AEP) Checklist

How To Decide what To Write On Your Insurance Blog

14 Ways To Generate Medicare Leads

Tags: Medicare Advantage, Medicare, Medicare Supplement, Medicare Part D

It's Time to Help and Guide Beneficiaries

Posted by www.psmbrokerage.com Admin on Tue, Oct 08, 2019 @ 10:32 AM

It's Time to Help and Guide Beneficiaries

are you ready for aep-1


The Annual Enrollment Period (AEP) is the time of year when your clients may switch between original Medicare and Medicare Advantage and when they’re able to re-evaluate their prescription drug coverage – whether it’s a stand-alone Part D or wrapped into an Medicare Advantage plan.

Research by the Kaiser Family Foundation found just 11% of Medicare Advantage beneficiaries voluntarily switch plans annually; another study found only 13% of Part D beneficiaries switch voluntarily, yet nearly half (46%) of those who did cut their premiums at least 5%.

For 2019, most Medicare Advantage beneficiaries (88%) are in plans including drug coverage, and more than half (56%) pay no drug premium beyond the Part B premium.

And don’t forget those who prefer Medicare Supplement plans: they vary by design greatly by region – but often it’s possible to cap out-of-pocket costs at a lower level than what’s available in Medicare Advantage plans.

What‘s best for each client? That’s your job, your challenge, your knowledge and expertise in action. And, as always, we are here to assist our agents with any challenges they may have during this time.

AEP Resources:

☛  Welcome to your 2020 AEP Headquarters
☛  Sell Med Advantage and PDP Plans online
☛  Solution to Medicare.gov Drug Finder changes
☛  Get your Med Advantage apps issued faster
☛  Co-op marketing dollars available for AEP
☛  2020 AHIP link with $50 discount
☛  14 Ways to Generate Medicare Leads

Helpful Guides:

Our goal is to provide agents in the senior insurance market with the information they need to inform their most important business decisions. We picked a handful of our most helpful articles and placed them all on one page for your convenience.

☛  Check out our PSM Agent Guides page

Contact Us:

Phone: (800) 998-7715
Email: info@psmbrokerage.com

thank you-1

 

 
 

Tags: Medicare Advantage, Medicare, Medicare Supplement, Medicare Part D

Medicare Changes for 2020

Posted by www.psmbrokerage.com Admin on Tue, Oct 08, 2019 @ 09:29 AM

Medicare Changes for 2020

businessman with dominoMedicare and You for 2020 just came out and while we’re still waiting for the updates on any cost changes, here’s are a couple of notable changes coming for 2020.

Medicare Supplement Plan Changes – No More First Dollar Coverage.

As of January 1, 2020, Plans C & F will be not be available for newly eligible Medicare beneficiaries. However, if a beneficiary is enrolled in Medicare Part A by December 31, 2019, they will retain the option to purchase these plans in the future.

Effectively, if a beneficiary aged into Medicare prior to January 1, 2020 nothing changes in regards to Medigap plan availability for them.

Those who enroll in Medicare on or after January 1, 2020, will not be able to purchase a Medigap Plan C or F, and thus will have no Medigap Plans available that cover the Part B deductible.

Plan G will then have the most benefits available, functioning much like a Plan F once the Part B deductible is covered. Guarantee Issue rights once applied to Plans C & F will now migrate to Plans D & G for this second group of beneficiaries.

Additionally, High Deductible Plan F (HDF) is being replaced by a new Medigap Plan, High Deductible Plan G (HDG) which currently includes the same $2300 annual deductible as the previous HDF. Medicare beneficiaries can begin enrollment into HDG on January 1.


The Donut Hole Will Close by 2020

Closing the donut hole 200That’s right, pictures of donuts on Medicare related posts will be a thing of the past in 2020. The Medicare Part D Donut Hole is closing. The percentage beneficiaries will pay in the coverage gap will decrease as the Donut Hole closes.

If they’re in the Donut Hole, they will now get a discount on brand-name drugs and additional savings on generic and brand-name drugs until it’s officially closed in 2020.

The gap is closing because the manufacturers will continue paying large percentages of the drug, while Medicare drug plans will increase the amount they cover. Currently, Medicare pays 56% of the price of your generic drugs while they’re in the Donut Hole.

They are responsible for the remaining 44%. In 2020, the number they will be responsible for is only 25% of the cost. This results in big saving for Part D beneficiaries in the Donut Hole. 

For more information, check out the full Medicare and You 2020 PDF.

 

Annual Enrollment Period (AEP) Checklist

How To Decide what To Write On Your Insurance Blog

14 Ways To Generate Medicare Leads

Tags: Medicare Advantage, Medicare, Medicare Supplement, Medicare Part D

Med Supp Market Survey Results

Posted by www.psmbrokerage.com Admin on Fri, Sep 27, 2019 @ 01:26 PM

 Med Supp Market Survey Results

Gen Re released results of this year’s Medicare Supplement Market Survey, and found:

  • Across all participants, $24.2 billion in total Med Supp in-force premium was reported for 2018, a growth rate of 6.6% over 2017;
  • For companies selling/reporting premium and lives for both 2017 and 2018, sales premium and lives declined by 3.2% and 3.7%;
  • Lapse rates averaged 9.8% for open blocks of business and 14.7% for closed blocks in 2018;
  • Over half of the active companies report selling Med Supp plans on a direct-to-consumer basis (via phone, mail, online or a combination of these methods where a traditional agent receiving traditional paid compensation is not involved), and 10% are looking to develop this capability.

    survey results-1

    In 2018, Plan F was the most widely sold plan. Excluding two companies that sell only in waiver states, all participating companies sold Plan F. Plans G and N were also popular with over 80% of participants selling those plans. 



    survey results-2

    Read The Full Report Here -  Med Supp Market Survey


Additional Updates:

Annual Enrollment Period (AEP) Checklist

How To Decide what To Write On Your Insurance Blog

14 Ways To Generate Medicare Leads

Tags: Medicare Advantage, Medicare, Medicare Supplement, Medicare Part D

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