Limiting Charges and Excess Charges in Medicare
Limiting charges and excess charges are connected concepts with Medicare, but the link can be confusing. What are they and how do they affect your costs in Medicare? One of the benefits of being enrolled in Medicare is that most costs are set by the Centers for Medicare & Medicaid Services (CMS) for anyone that…
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All About Medicare Waiting Periods
Medicare offers comprehensive coverage for many of the important health care services you may need, but there are waiting periods before your coverage kicks in. How long are they, and can you avoid them? All About Medicare Waiting Periods. For most of us, the only waiting we have to do when it comes to getting…
Read articleWhat Does Medically Necessary Mean?
Whether Medicare considers something medically necessary or not can define your coverage and what you’ll be paying out-of-pocket. Here’s what you need to know! When you visit the doctor or receive medical services, it’s often covered by your Medicare plan, at least partially. This is because much of the medical care you receive is considered…
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What to Do If Your Medicare Card is Lost or Stolen
Knowing what to do if your Medicare card is lost or stolen is important. Luckily, getting a replacement Medicare card is easy. Here’s how to get a new Medicare card!
Read articleHow is Medicare Funded?
We talk a lot about what Medicare costs to use, but not how the benefits are financed. Here’s how Medicare is funded, and how we each help ensure enrollees receive affordable health care. There are 61 million people in the United States that are enrolled in Medicare and rely on its coverage to afford vital health care.…
Read articleHealth savings account (HSA)
A health savings account (HSA) can provide a triple tax break: your contributions are tax-deductible (or pre-tax if through your employer). The money grows tax-deferred, and you can withdraw it tax-free for eligible medical expenses at any time. And when you turn age 65. You can withdraw the money tax-free for even more expenses. You have to…
Read articleMedicare and COBRA
Medicare and COBRA. COBRA is the temporary insurance that allows people to remain insured for 18 months (or sometimes longer) after leaving employment. It is designed to give people time to get another job or find a different health plan. Aside from the expense, terminated employees must now pay the entire premium themselves. It works…
Read articleHow to enroll in Medicare if you are turning 65
How to enroll in Medicare if you are turning 65, Most people become eligible for Medicare when they turn 65. Your Medicare enrollment steps will differ depending on whether or not you are collecting retirement benefits when you enter your Initial Enrollment Period (IEP). If you are receiving Social Security retirement benefits or Railroad Retirement benefits, you should be automatically enrolled…
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How to compare Medicare plans using the Medicare Star Rating
Star Ratings How to compare plans using the Medicare Star Rating. Part D drug plans and Medicare Advantage Plans vary greatly in terms of costs and coverage. Each January, plans can change their coverage and costs for the new calendar year. This means that each fall, you should review your plan’s coverage and compare it with other plans in…
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