Health Insurance Blog

Blue Cross Blue Shield of Florida offers many seminars throughout the state to the public as well as members to get out valuable information on their Medicare and Medigap programs.  Through these often times free seminars and senior expos Medicare beneficiaries can ask any questions and get clarification on the often times complicated Medicare plan.

Blue Cross Blue Shield Medicare supplemental insurance is also discussed in these seminars and interested consumers can obtain pamphlets of information in addition to asking questions to a live representative.  One of the most recent events was held at The Courtyard Fort Lauderdale to educate those interested specifically in Medicare Advantage (HMO, PPO, PFFS), medicare supplements, and Medicare Part D plans for 2010.  This event was open to the public free of charge.  Understanding your Medicare health insurance quotes can prove very beneficial as you shop around in the very competitive market.

A complete calendar of events is available on BCBSFL’s website which includes dates, times, locations and what will be covered at the seminar.  If you are a medicare beneficiary or will be soon, it’s worth your time to see if there are any available events in your area.

According to the article “Covering the Bases: Possible Options If You Miss Open Enrollment” by Amy Rubino on hometownglenburnie.com, there is no annual open enrollment period for Medicare Supplement Insurance medigap plans, similar to purchasing individual health insurance.

Medicare Part D and Medicare Advantage Plans have certain times you can enroll but it’s a little different for Medigap plans, which are designed to fill in the missing pieces of Original Medicare.  The article points out that the best time to think about enrolling in a Medigap plan is within the first 6 months that you are both age 65 or older and enrolled in Medicare Part B.

The reason this is the best time is because during this 6 month period the health insurance company that sells you the Medigap policy cannot refuse to sell you a plan and cannot charge you more because of pre-existing conditions.  There are also some other specific situations that would grant you guaranteed right to purchase a Medicare Supplement Insurance plan regardless of your health conditions.

State Farm health insurance has teamed up with Humana in an alliance to offer Medicare Prescription Drug Plans, also known as Medicare Part D.  Humana’s Medicare Prescription Drug Plans offers guidance on how to save money on your prescriptions.  They make it easy for you to keep track of prescription costs.  They offer a SmartSummary RxSM statement which shows what you bought and the varying costs.

It’s benefits like these that make State Farm and Humana Medicare supplement insurance plans unique.  Humana offers 3 stand alone Medicare Prescription Drug Plans to help balance your health insurance budget.  In today’s economy and so many pinching pennies, this benefit proves extremely valuable.

State Farm and Humana have joined to market Medicare Advantage plans as well.  This type of plan combines the benefit of prescription drug coverage with the Medicare health coverage in one convenient plan.  They offer additional benefits when compared to Original Medicare.

The WhiteHouse.gov website has information on the new health care reform bill.  They specifically discuss the changes being made to Medicare.  To pay for the health care reform bill there needs to be $313 billion in savings to create a deficit for an overall neutral plan.  The article says that America has the most expensive health care system in the world but points out that we do not get the best results.  Something new is needed to change this.

The majority of the savings which will help pay for the new bill comes from savings in the Medicare and Medicaid system.  There are 3 main points to saving in Medicare which include incorporating productivity adjustments into Medicare payment updates, reducing subsidies to hospitals for treating the uninsured as coverage increases, and pay lower prices for Medicare Part D drugs.

The pharmaceutical industry has committed to slowing the rate of increase of health care costs.  This will also help keep health insurance quotes down as most Americans will be required to carry health insurance coverage.  The Administration is continuously working with Congress to develop the best ways to achieve the necessary savings.

On AARP’s website they have what is called a “Doughnut Hole Calculator” which has been designed for the 2010 Plan to avoid falling into a gap for Medicare Part D coverage.  It’s a four step tool that is very useful for saving you money on your health insurance quotes.

The Doughnut Hole Calculator is easy to use.  First, gather your medications and drug plan cards and go onto AARP’s website.  Enter the name of each drug, dosage, and how often you take it.  Then you can view a chart to determine if you are going to hit the “doughnut hole” for Medicare Part D.  The calculator will give you a list of alternative drugs that are similar to the prescribed drugs but they can dramatically reduce expenses and stretch your AARP Medicare supplements coverage.  They supply a form letter you can print out and show your doctor to ensure the drugs will suit your needs.

You can learn more about avoiding a gap in your Medicare coverage on AARP’s website.  You can also read and share experiences with the Doughnut Hole Calculator to see what other people are dealing with.  There is an online community available to members which many find extremely valuable.

The article “How Do You Choose the Best Medigap Policy” found on Todaysseniors.com, shares some helpful information for today’s senior citizens when choosing Medicare suppplement insurance.

There are dozens of Medigap plans out there, from UnitedHealth Care’s Secure Horizons, to AARP so it’s hard to tell what is the best value.  The good thing to know is that with each Medicare supplement plan, benefits are the same with each company.  Salesmen may try to imply otherwise, but this is mandated by the government.  Premiums can vary significantly though, so it’s important to shop around. 

The most ideal time to shop around for a Medicare supplement insurance plan is during the first 6 months after enrolling in Medicare Part B.  This is the time where insurance companies have to accept you regardless of any pre-existing conditions.  Paying a high rate for a standardized Medicare supplement plan will not get you anything more.  Their benefits are the same and so are their claim filing requirements.  Familiarize yourself with each of the different plans, understanding that Plan A has the fewest benefits with the lowest cost whereas Plan J has the most benefits and is the most expensive.

According to the article “Overhaul of Health Care Bad for Seniors” by John Fanning on summitdaily.com, many senior citizens are losing their health insurance coverage in 2010 as many insurers have reduced medicare supplement plans or have increased premiums drastically. 

Many seniors are currently struggling to get by and paying for health insurance is just another worry on their plate.  If the current health care bill passes in Congress, advantage plans may be dismantled and seniors will need to find a prescription drug plan for MedicareD.  This can add an additional $25-$50 to the cost of their health care.  With many senior citizens living off of only social security this can be disastrous, especially since there is no SS increase for 2010. 

Over 12 million Medicare benficiaries are enrolled in Medicare Advantage Plans which represents 23% of the total Medicare population.  Many use Medicare supplement insurance as well.  Medicare pays about 11% more for a beneficiary to have a Medicare Advantage plan than for original Medicare on average. 

Blue Cross Blue Shield of Florida (BCBSF) has introduced a new Medicare Advantage plan to its portfolio of health plans for seniors.

BlueMedicare Regional PPO joins a senior health insurance portfolio which already included HMO, PPO, Fee-for-service, Medicare Part D, and traditional Medicare Supplement Plans.

BlueMedicare Regional PPO is available across Florida for a $45 monthly premium.  Benefits include the ability for members to choose theit own doctors ans hospitals with no referrals required, as well as both in-network and out-of-network coverage.

More information about Florida health insurance and Medicare Advantage Plans.

After April 1, Medicare beneficiaries will be locked into their current plan through the remainder of 2009.  If you are enrolled in a Medicare health plan and unhappy with it, don’t procrastinate shopping for a new plan.

According to Paul Precht from the Medicare rights Center, below are the changes that can be made before April 1.

• A Senior who is enrolled in a Medicare private health plan with drug coverage (like an HMO or PPO) can switch to another Medicare plan that also offers drug coverage. They can also switch to “original Medicare” with a stand-alone drug plan.
• If someone has original Medicare with a stand-alone drug plan, they can switch to a Medicare private health plan with drug coverage. However, they cannot,  add or drop the Medicare drug benefit (Part D) and they cannot switch from one stand-alone prescription drug plan to another one. Most people with Medicare will not be able to change their health plan again until 2010.

More information about senior health insurance options

New details have been released regarding Blue Cross Blue Shield of Michigan’s plans for rate hikes. The insurer is requesting that the Michigan Office of Financial and Insurance Regulation allow them to increase their premiums. Changes BCBSM is requesting would have an impact on many people

• Individual health insurance policies would be, on average, 56% more expensive.
• An average cost increase of 31% would hit seniors with Medicare supplements.
• Group conversion plans, which are for individuals transitioning out of employer-sponsored coverage, would be set to increase by 42%.