News & Updates For Medicare Beneficiaries
The first two articles explain the purpose and content of two important documents--the Annual Notice of Change (ANOC) and 2021 Guide To Medicare--that Medicare beneficiaries receive at the end of September. Agents cannot discuss 2021 Medicare plans until the Annual Pre-Enrollment period, which runs between October 1 and October 14, nor can they take applications during this period. The Annual Enrollment Period, which is the period in which agents can take applications, runs from October 15 through December 7 for a January 1, 2021 enrollment date.
The last article discusses Medicare Medical Savings Account (MSA) plans, which are a different kind of Medicare Advantage plan that combines a Medical Savings Account to which the government deposits a set amount and a high deductible health plan that pays for Part A and B of Medicare expenses after the plan deductible amount is met. These plans by law have $0 premiums and do not include Part D prescription drug plan coverage.
Beneficiaries must enroll in separate, stand-alone Part D drug plans in order to obtain coverage for outpatient prescription drugs.
Read the newsletter here: https://conta.cc/34HHhCc
Monthly Life, Disability and Long Term Care Insurance News
This month’s lead article contains data concerning why it’s important to consider obtaining long-and short-term disability insurance and contains an explanation about what each type of coverage provides. While disability coverage is most often obtained through employers, there are carriers who specialize in the individual market and we can provide quotes on these types of coverage. Self-employed individuals and employees of smaller companies who can’t afford to offer this type of coverage have a need to purchase these types of coverage, and interest in this protection has heightened because of the pandemic.
The second article includes video and text explanation about why it is worth it to purchase life insurance.
The last article contains a video that explains the major provisions of the SECURE Act. We published a summary of the provisions in a past edition of this newsletter, but we’ve been asked to furnish a simpler explanation. This video was produced last December but is still accurate and does an excellent job of explaining the law’s major provisions.
Read the newsletter here: https://conta.cc/3jkgGPR
Monthly Individual and Family Health Insurance News
We’ll be offering Affordable Care Act plans from all carriers except Florida Blue in 2021 and have made arrangements with our former general agency to service our clients who desire to retain their Florida Blue policies. No details on premiums or plan provisions have been announced, but our carriers will be introducing new plans, improving their networks, and we project they'll be very competitively priced in 2021.
The second article contains an explanation and videos of Health Matching Accounts, which are an interesting and attractive alternative to Health Savings Accounts.
Individual Coverage Health Reimbursement Arrangement (ICHRA) programs began to be available effective January 1 of this year and can be offered by employers of all sizes in lieu of providing group insurance coverage. Availability of ICHRAs mean that in many cases employees will have more options in choosing programs to meet their healthcare needs.
Together with our outside consulting partner, we can assist employers establish and administer compliant ICHRA programs and also help employees enroll in individual and family health insurance OR medical cost sharing programs.
Read the newsletter here: https://conta.cc/34Pupub
MYEMAIL.CONSTANTCONTACT.COM
ACA Open Enrollment for 2021
Monthly Individual and Family Health Insurance News
In previous years we’ve only been able to offer Florida Blue ACA policies and have referred people who desired other carriers to other agencies. Because of price competitiveness of the other carriers and improvements in their networks, plans and coverages, we’ve decided to terminate our Florida Blue contracts. We’ll be able to explain how our former Florida Blue clients can renew their policies for 2021 and can refer them to our former agency if they want to make changes to their policies. Read the first article for information about the new carriers we’ll be offering in 2021.
Approximately 2 million Americans are obtaining their medications from overseas sources either because they can’t afford to buy medications under their health insurance coverage or because they can’t afford such coverage at all. There are significant safety and quality concerns about buying medications overseas. While we can’t guarantee safety and quality, we’ve identified Canadian and other sources that we believe have good safety and quality protocols, but we encourage individuals who buy such medications outside the U.S. to perform due diligence before buying such them.
The use of telemedicine has expanded exponentially because of temporary rules that have permitted the expansion during the pandemic. We expect regulative and legislative authority to permit expansion of telemedicine in ACA plans in 2021 but won’t know specific details until September or October when new plans are announced.
National General, our primary short- term health and supplemental insurance carrier, is being purchased by Allstate, which is interested in expanding their offerings through the independent agent channel, and the deal is expected to close in 2021. We don’t expect this to impact any current offerings and anticipate this will provide National General with increased financial resources and more opportunity to introduce new products.
Read the newsletter here: https://conta.cc/302Mnq4
*Monthly Life, Disability and Long Term Care Insurance News*
The first article in this month’s newsletter describes the True Freedom Home Healthcare Plans that we have recently introduced. These plans (there are four different choices of lifetime maximum hours) are an attractive option for those who can’t afford or can’t qualify for long-term care insurance. The plans are described in the article, and a brochure, rate sheet, and terms and conditions for joining the plans are included.
Life Insurance Awareness Month (LIAM) normally occurs in September, but because of the pandemic this year’s theme is “Reality Check: The time for life insurance is NOW," and the normal timing for LIAM has been moved up accordingly. LIAM says,“Life changes quickly and priorities shift. Life insurance can help you protect your loved ones financially—now and for the future. Get it today."
According to an article in CBNC News, the coronavirus pandemic has led—at least temporarily and possibly long-term--to a reduction in spending habits and increase in savings for retirement, emergency funds, and children’s education.
Read the newsletter here: https://conta.cc/3jSgPeg
*News & Updates For Medicare Beneficiaries*
A report issued by AHIP on July 7 concerning Medicare Supplement enrollment trends and demographics indicates that about 80% of all Medicare Supplement members are enrolled in Plans F, G, and N. See the first article for more details.
Approximately 2 million Americans are obtaining their medications from overseas sources either because they can’t afford to buy medications under their Medicare Advantage Prescription Drug (MAPD) or Part D drug coverage or because they can’t afford such coverage at all. There are significant safety and quality concerns about buying medications overseas. While we can’t guarantee safety and quality, we’ve identified Canadian and other sources that we believe have good safety and quality protocols, but we encourage individuals who buy such medications outside the U.S. to perform due diligence before buying them.
The use of telemedicine has expanded exponentially because of temporary rules that have permitted the expansion during the pandemic. We expect regulative and legislative authority to permit expansion of telemedicine both in Original Medicare and in Medicare Advantage plans, but won’t be able to provide specific Medicare Advantage plan details until October 1; likewise we can’t provide details of any changes in Original Medicare until rules or legislative changes are made, as applicable.
Read the newsletter here: https://conta.cc/3jI70j9
Monthly Life, Disability and Long Term Care Insurance News
This month’s newsletter is about the basics of life insurance.
First, watch Brooke Shields’ important video message about life insurance.
Then, read an article about the ten ways to get more affordable life insurance.
Finally, go to the third article that explains how inexpensive it can be to obtain life insurance. This article contains a list of factors that can affect the cost of life insurance. It also contains materials from Life Happens’ most recent Insurance Barometer Study, and it also contains a Life Insurance Calculator. Finally, it contains a link to an article about ways to get coverage.
Read the entire newsletter here: https://conta.cc/35Zh5Uj
News & Updates For Medicare Beneficiaries
The first article explains what are called the Pre-Annual Enrollment Period and the Annual Enrollment Period, which begin today and October 15 respectively. It also contains a short general summary of program changes for 2021.
The second article summarizes major changes to drug plans [whether stand-alone or included in Medicare Advantage Prescription Drug Plans (MAPD)] for 2021.
The third article lists three important publications and contains links to two of them. You should retain all three of these publications.
Read the entire newsletter here: https://conta.cc/3iZZOye
MYEMAIL.CONSTANTCONTACT.COM
Pre-Annual Enrollment Starts Today And Annual Enrollment Starts October 15
News & Updates For Medicare Beneficiaries
2021 star ratings have been issued. Read this article to learn the importance of star ratings and to expect that you will be provided the current star ratings for 2021 when you meet with an agent beginning October 29.
Medicare premium increases; changes in Medicare Part A deductibles and copays and the Medicare Part B deductible; and increases in the Part B and D IRMAA schedules are expected to be announced in November, and we plan to summarize these changes in our December newsletter. Read this article for some preliminary information.
NCD (formerly called National Care Dental) and Ameritas offer attractive dental insurance plans to Medicare beneficiaries, and carriers like Delta Dental have continued to offer such plans. These plans are popular with Medicare Supplement policyholders as well as Medicare Advantage beneficiaries who need additional coverage than that provided by their Medicare Advantage plan. The NCD dental plan is particularly attractive to those who have had PPO dental coverage within the last 30 days.
Read the newsletter here: https://conta.cc/3jBfreT
#healthinsurance #insurance #insurance #lifeinsurance #healthcare #medicaid #medicare #health #medical
Monthly Life, Disability and Long Term Care Insurance News
The first article is the story and video about a young mother who made sure her family’s future was protected with life insurance.
The second article communicates to our readers that we’ve recently been appointed by two specialty short- and long-term disability insurers who specialize in the self-employed market.
The third article reports the results of a survey taken by Lincoln Financial Group from July 17-19.2020 and reported as a blog in Life Happens on September 25, 2020.
Read the newsletter here: https://conta.cc/34Amv7q
Monthly Individual and Family Health Insurance News
Affordable Care Act open enrollment has begun and will run through December 15 in states (e.g. Florida) that participate on the Federal Exchange (also referred to as the Federal Facilitated Marketplace) for a January 1, 2021 effective date.
CMS (Medicare) projects that ACA premiums will decrease 2% nationally for 2021. Premiums are not being adjusted for the effects of COVID. However, premiums will differ between state, county, and carrier. The second article describes some of the plan changes and expansions that will be occurring in Florida for 2021.
The third article explains that short-term health insurance and medical cost sharing may be the least costly alternative for people without significant health conditions and who are not receiving tax subsidies (or significant tax subsidies). Please call us at 877-734-3884 or 561-734-3884 for additional information.
Read the newsletter here: https://conta.cc/2TsIZki
News & Updates For Medicare Beneficiaries
The first article in this month’s newsletter identifies four questions that you should be asking about your 2021 plan. Please call us at 561-734-3884 or 877-734-3884 to discuss any questions or problems you might have about your plan (whether you've kept or changed plans).
The COVID-19 vaccine is covered by Medicare and there is no cost for the vaccine, but scammers are already calling and asking for the member’s Medicare number to receive access to the vaccine. Do NOT give out your Medicare number to anyone who asks for it to provide you with the COVID-19 vaccine and don't agree to pay if you're offered the opportunity to receive earlier vaccination opportunities or placed on any special lists to receive the vaccine.
The third article contains a link to a portion of the medicare.gov website that contains information about getting care and drugs in disasters or emergencies.
Read the newsletter here: https://conta.cc/2KNNfKh
Latest News and Updates
The first article in this month's newsletter indicates that ACA enrollment on healthcare.gov increased 6.6% after adjusting for states that left the federal marketplace in the last year. The article also suggests that President-elect Biden will re-centralize some ACA functions and may create a special election period for people who have lost jobs because of COVID. He’s also been exploring methods for increasing premium tax credits and subsidies. He's named a new Secretary of HHS who is favorably pre-disposed towards the ACA.
The second article explains what people must do to qualify to enroll for an ACA plan outside of open enrollment (which ended on December 15 on the federal exchange). Readers can use the links in this article to contact us for help in determining if they're eligible for a plan and, if so, to obtain quotes.
The third article discusses short-term health insurance, which can be a low-cost alternative for many people who can't afford to buy ACA coverage and/or didn't enroll during open enrollment.
Read the newsletter here: https://conta.cc/2L44XZK
Monthly Life, Disability and Long Term Care Insurance News
Due to the pandemic, global life insurance premiums decreased 4.5% in 2020, but trend growth is expected to be 3% in each of the next two years.
The second article explains the trend in no-exam life insurance policies as replacements for the traditional policies which required paramedical exams. These policies are still considered as being underwritten because carriers check prescription histories with the Medical Information Bureau and also utilize other databases as well.
The third article from Life Happens explains why buying life insurance is worth it.
Read the newsletter here: https://conta.cc/3hyLfBO
Monthly Life, Disability and Long Term Care Insurance News
The first article explains the ten advantages of hybrid life insurance policies, which combine life insurance with long-term care.
The second article details the immense transfer of wealth that is on the horizon as baby boomers move deeply into retirement.
Finally, the third article explains how health savings accounts can be used to fund retirement.
Read the newsletter here: https://conta.cc/3pWF5PD
Monthly Individual and Family Health Insurance News
Affordable Care Act open enrollment ends on December 15. Because systems are usually extremely overloaded the last five days of open enrollment, we encourage prospective enrollees to enroll by December 10.
The second article explains the minimum and maximum income requirements to qualify for a subsidy (an advance premium tax credit used to reduce the cost of coverage) for 2021. Florida and 11 other states base the minimum on 100% of what is called the Federal Poverty Level (FPL), whereas the other 39 states and District of Columbia base the minimum on 138 % of the FPL. The article also explains qualification for a Cost Sharing Reduction, which, for no additional cost, lowers maximum out of pocket limits, deductibles and co pays of what the law refers to as Silver level plans.
The final article claims that two conservative justices will join with the three liberal justices on the Supreme Court to affirm the constitutionality of all or most of the Affordable Care Act.
Read the newsletter here: https://conta.cc/3q1jBBi
MYEMAIL.CONSTANTCONTACT.COM
ACA Open Enrollment Ends December 15
News & Updates For Medicare Beneficiaries
Social Security benefits will be increasing 1.3% in 2021, and the standard Part B premium will be increasing from $144.60 to $148.50.
The deductible for Part A (hospital) benefits is increasing to $1484. As all Part A copays are based on the Part A deductible, copays for the 61st through 90th day will be adjusted to 25% of the new Part A deductible; co pays for the 90 ”lifetime reserve days” will be adjusted to 50% of the new Part A deductible; and copays for the 21st through 100th day of skilled nursing care will be adjusted to 12.5% of the new deductible. The deductible for Part B of Medicare is being increased by $5. No other changes to Part B are being made because Medicare Part B either has $0 coinsurance (e.g. for preventive care) or 20% (for most other services).
The deductible for HiF and HiG Medicare Supplements, in states where these plans are offered and approved, has been increased from $2,340 to $2,370 in 2021. The out-of-pocket maximum for Plan K has been increased from $5,880 in 2020 to $6,220 in 2021, and from $2,940 to $3,110 for Plan L.
Because of the changes in the standard Part B premium and the introduction of cost of living adjustments to the tables, the Part B IRMAA (Income Related Monthly Adjustment Amount) will be changed for 2021. Because of the cost of living adjustment change, Part D IRMAA will change if an individual changes income levels as a result.
The following articles provide more details about these changes.
Read the newsletter here: https://conta.cc/3m3Q2wx
Monthly Individual and Family Health Insurance News
The first article in this month’s newsletter contains an analysis of what Democratic control of the Senate could mean for healthcare policy making.
The second article contains enrollment statistics for 2021 open enrollment on healthcare.gov and the final article reports that that Allstate has concludedits acquisition of National General.
Read the newsletter here:
https://conta.cc/3qQebsg
#healthcare #healthinsurance #healthinsurance #medicare #medicare #insurance #medicaid #digitalhealth #lifeinsurance
MYEMAIL.CONSTANTCONTACT.COM
What Democratic Control Of The Senate Could Mean For Healthcare
News & Updates For Medicare Beneficiaries
The first article contains links to two excellent articles—one in Kaiser Health News and the other in The New York Times.
The second article contains information on marketplace penetration of Medicare Advantage plans in the 200 most populous counties of the United States.
The third article contains a very useful comparison between Medicare Advantage and Medicare Supplement plans. I’ve updated the article to reflect 2021 information and also expanded upon some of the points.
Read the newsletter here:
https://conta.cc/3qX1JXK
#insurance #healthcare #healthinsurance #medicare #medicaid #digitalhealth #lifeinsurance #insurtech
MYEMAIL.CONSTANTCONTACT.COM
What Can President Biden Do In His First 100 Days Regarding Healthcare?
Monthly Life, Disability and Long Term Care Insurance News
Except for health insurance, early in the year is the best time to do an annual check-up of your life insurance and other policies. (Health insurance policies should be reviewed and decisions made shortly before or during open enrollment so you'll be able to make changes during this period.) The short video gives you facts about life insurance, and the first article gives you tips on choosing life insurance companies. Call us at 561-734-3884 or 877-734-3884 with any questions, help in reviewing your policies, and to make application if you want to make any changes.
Read the newsletter here: https://conta.cc/36iNSTO
#lifeinsurance #healthinsurance #healthcare #medicare #digitalhealth #medicaid #insurance #employeebenefits
