Changing your Medicare Plan - Should I Stay or Should I Go?

by Marc Manor

For a number of reasons you may be asking yourself if you should make a change to your Medicare Insurance or Prescription Drug Plan.  I am often asked, “what do you think about this company” or “which company is best”?  Because of Centers for Medicare and Medicaid Services (CMS) regulations, I am not allowed to impart my personal opinion in answering these types of questions.  Agents are only allowed to state the facts when it comes these questions and besides, the question should be which plan is best for you in your situation based on your doctors, ongoing medical concerns, and the prescription drugs you are currently taking.  When it comes to Medicare Insurance Plan performance, it’s all in the stars!

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Each Medicare Advantage (Part C) and Prescription Drug Plan (Part D) are assigned a star rating by CMS each year.  That is the objective criteria we as agents can use to let you know how that company performs.  The star ratings are assigned using a system of surveys that are compiled using information that is obtained from providers and members, among others.  But star ratings alone are not the only indicator of whether you should make a change or not.  Here are some things to think about before making a change:

What does $9.95 buy in 2019?

By Marc Manor

I was thinking of what I subject I should tackle on this blog and just like a gift from

heaven above, it fell right into my lap.  The TV was on and I heard a familiar celebrity

making a pitch for Life Insurance. His contention was that “price” was the most

important aspect of this guaranteed issue Life Insurance product for which you

“could not be turned down.”  Every example he gave came with a monthly premium

of only $9.95.

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I thought this would be a good subject

because, I have had many people trying

to get Life Insurance to cover final

expenses and they are shocked when

I tell them what their monthly premium

would be for $10,000 to $20,000 of

insurance.  Some will say, “I think I’ll

look elsewhere. Mr. Celebrity said

I could get insured for only $9.95”. So, I

decided to run a quote on their website

to see what $9.95 would buy me (using

my age and zip code) to protect my

family in the event of my demise:

$1,214.00 of insurance!  Yes, I would

only have to pay $9.95 but how far would

that $1,214 go?

Let’s take a look at average funeral expenses

according to the National Funeral Directors Association (NFDA) for 2017:

Be Prepared for Long-Term Care with Clear Communication

By Marc Manor

Most of us are horrified as the prospect of being in a position of no longer being able to care for ourselves.  We are horrified for two reasons:  First, we don’t like the idea of not being able to carry out our own “Activities of Daily Living” (commonly known as ADLs) which are those activities required for one to adequately take care of themselves (bathing, bathroom, mobility, dressing, self-feeding etc.); and secondly, we really don’t like the idea of our spouse or children changing our diaper!  

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It is hard to imagine ourselves getting to the point where we cannot function on our own, but assisted living and nursing homes are full of people who probably felt the same way just a few short years ago.  The reality is we are all just one accident or illness away from that horrible reality.  Some of us think about how we will handle the possibility of requiring long-term care, yet others don’t seem to think of this as a priority.  As someone who has dealt with this situation for both of my parents, I highly recommend discussing the possibility with those you love and trust and have a plan in case long-term care becomes a reality.  Some of the most well thought out financial and estate plans have been derailed because of long-term care requirements.  Here are some things to consider: