Recovering From a Medicare “Wrong Turn”

By Marc Manor

Much of what I do is problem solving.  Frequently, the problems relate to “wrong turns” through the streets of the Medicare “Metropolis”.  By wrong turns, I mean when someone that has been enrolled in Medicare Part A and Part B beyond their initial enrollment period finds themselves outside the traditional open or annual enrollment periods and wants to transition to or from Original Medicare.  Sometimes the constraints of the Medicare “system” prevent immediate relief. However, there are solutions in many cases depending on when and how the “wrong turns” occurred.

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Under the Medicare system, there are two basic paths: 1) Original Medicare and 2) Medicare Advantage (or Medicare Part C).  You can only be on one path or the other.  Typically, the path you choose occurs at the time you initially enroll fully into Medicare Parts A and B.  The choice initially of which path you take is very important so is necessary to give some basic information about these choices:

Employee Group Plans vs. Medicare; When to Cut the Cord.

by Marc Manor

If you are coming up on age 65 and you are still working and are using an employee group health insurance plan you may be asking yourself if you should dump the employer plan to take advantage of your Medicare benefits.  If you thought that, you are not alone.  This situation comes up frequently and as an agent, I can only really answer by making a recommendation that you seek assistance from your company benefits advisor.

Seeking assistance from your benefits advisor is really the only answer because they should be the most knowledgeable about the group plan benefits.  Human Resource professionals earn their living managing employee benefit plans.  So, as you ask yourself the question of whether to part ways with your employee group plan to join Medicare, you need to go to HR.  You may be fortunate and get the HR professional that provides you with all the information you need to make an informed decision; or you may just be handed a form and be left on your own to make the decision.

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Either way, you need to know the questions to ask just in case you aren’t presented with enough information to make a determination best suited for your situation.  Here are some tips:

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:

Save $ with the right “Pharm” Team

By Marc Manor

Please forgive me, but as a lifelong sports fan, I always try to squeeze in a sports analogy or pun when I can. If you have seen the movie “Money Ball” and/or you are a baseball fan, you know the importance of a good “Farm” Team System. Major League Baseball teams find young talent and sign them to Minor League Farm Teams to develop them as opposed to signing high priced free agents to help their team win. This is good business for professional baseball and the same holds true for Medicare beneficiaries. In this blog I will explain how Medicare beneficiaries can save money by using the right “pharm” (pharmacy) system to put together a winning team in the medicine cabinet!

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Beneficiaries using Medicare Part D benefits have a vast landscape of plans they can choose from. Many Medicare Advantage Plans have Part D Prescription Drug coverage included. So how does one go about choosing the right plan? There are a number of factors, not least of which has to do with what pharmacy they use.

Medicare Prescription Drug Plans frequently contract with certain pharmacies for discounted prices for their prescription drugs. This can make a big difference with how much a beneficiary pays for their drugs on a recurring basis. Usually there are three categories to consider:

Juvenile Life Insurance: The Gift That Keeps Giving!

By Marc Manor

Very few people I talk to insure their children and it can be an uncomfortable subject to bring up. The very thought of losing a child is almost unthinkable. We all know children have lives that can end tragically, but fortunately they rarely do. Because the death of a child is so rare, it makes for the perfect opportunity to insure them. No child I know can pay the premiums, but if their parents or grandparents, take the initiative, they can open a door to financial security for a lifetime.

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Now I'm sure little Johnny or Janet would rather see a toy or a puppy under the tree at Christmas. But a life insurance policy stuffed in the stocking can bring an immeasurable amount of happiness throughout their lives. And it is so inexpensive, they can probably still enjoy those toys under the tree from Santa! So, let me tell you why I think Juvenile life insurance is the perfect gift!