Should I Let My Medicare Part C Plan Automatically Renew?
Medicare Part C, also known as Medicare Advantage, is set for automatic renewal when you sign up
Medicare Supplements are available to individuals who receive Medicare. This type of supplemental insurance is also known as Medigap. Medicare Supplement Insurance helps members of Original Medicare to ‘fill in the gaps’ of their coverage.
Many people have questions about whether Medicare has any dental, vision, and hearing plans. The unfortunate reality is that Medicare doesn’t cover basic examinations for any of them. What’s worse is that Medicare doesn’t cover copays that deal with the health of your ears, smile, and eyes. So, it is important to seek out coverage for these essential health costs.
And there are plenty of affordable policy options available.
Individual health insurance policies are those that you buy on your own. They are not part of employer health plans. These plans can cover a single person or an entire family.
The landscape of Individual health insurance policies changed in 2014 with the passing of the Affordable Health Care Act (ACA). The ACA standardized and increased the benefits provided by these policies and offered Americans more policy options. This law also guaranteed coverage for individuals and offered subsidies to help people afford the insurance coverage they deserve.
Cancer plans can literally be a lifesaver.
Being diagnosed with cancer is accompanied by many unexpected expenses, including examinations, medical care visits, and expensive treatments. So, while you and your family face severe emotional challenges, financial stress often adds to this trying situation.
Cancer is a growing problem around the world. And cancer treatment is extremely expensive.
Final expense insurance, also known as burial insurance, provides your loved ones with peace of mind after your death. Money is paid to your beneficiary that can be used to pay for funeral expenses or whatever needs arise.
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Medicare Part C, also known as Medicare Advantage, is set for automatic renewal when you sign up
Medicare Supplement (Medigap) Plan B is not the same as Medicare Part B, which is part of Original Medicare (along with Medicare Part A).
Medigap Plan B serves to fill in the gaps in coverage left by Original Medicare, Part A and Part B. Original Medicare coverage may leave you with out-of-pocket expenses such as deductibles, copayments and coinsurance. You may have the option to enroll in a Medigap plan that helps cover the remainder of these expenses. Medigap Plan B specifically covers:
The best time for beneficiaries to enroll in Medigap Plan B may be during their Medicare Supplement Open Enrollment Period. This enrollment period is not the same for everyone.
This period begins on the first day of the first month that you are both age 65 or older and enrolled in Medicare Part B, and lasts for six months. During this time, private insurance carriers may not use medical underwriting to assess a beneficiary’s health condition.
This means that if you’re enrolled in Medicare Part A and Part B and live within a Medigap plan’s service area, you can enroll in that Medigap plan without fear of being denied coverage or charged higher premiums based on a pre-existing health condition, however waiting periods may apply.
If you miss your open enrollment period, you have the option of applying for Medigap Plan B (or any Medigap plan available to you in your area) at any time during the year, but you may be subject to coverage denial or higher premiums.
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