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What To Keep When Cleaning Out A Wallet

Question: I remember you did an article about cleaning out your wallet? Could you do that one again and help me with this wallet? Answer: I would love to update that information and let’s get into that wallet and see what interesting stuff is in there! This advice applies to BOTH men and women. So pull out those wallets and purses. First, clear off a spot on the table then dump or take everything out of your wallet/purse. Next sort out the things you must carry; your driver’s license or ID; your insurance cards; your cash; your credit cards (that you are currently using); your ...

Proposed Premium Rate Isn’t Set In Stone Quite Yet

Question: I just got a letter from my Medicare Supplement Plan and the letter says the monthly premium rates are going up by 20%. Answer: Well, I have to say that I have heard this from a lot of people recently on this topic. Each year at about this time, the insurance companies send a letter to all their enrollees informing them of the proposed rate increase. The letter you received states that this increase has been submitted to the New York State Department of Finance Services, so it is not the final word. The final announcement of the actual price increase will come to you later ...

Price Isn’t The Only Way To Compare Health Plans

Question: My sister in law has a $0 premium HMO, and I have a PPO plan which costs a little bit more for the premium. She thinks I am getting ripped off because I have to pay the company money each month and she doesn’t. What do you say? Answer: I want to say right up front, that the price of the premium is not the only criteria you should measure the value of the plan to buy. You need to evaluate your physicians, your medications, where and how often you seek medical care, are just some of the criteria I would recommend using when choosing your coverage. Both you and your ...

Why Are Some Medications Not Costing Anything?

Question: I just picked up my medication and the cost was $0? Did they charge me the right price? Answer: A little more than a year ago, I wrote an article talking about how Medicare Part D was going to change in 2024. I am beginning to talk with individuals who are benefiting from that change we talked about a year ago. Medicare Part D has four phases of coverage: Deductible, Initial Coverage, Coverage Gap and Catastrophic Coverage. The retail cost of your medication moves you through those phases of coverage. The amount you pay is different in every phase. The Inflation Reduction ...

Question: I recently got a phone call from someone who said they were from Medicare to talk about my insurance. How can I protect myself from Scammers? Answer: In response to that particular question, that individual was definitely not from Medicare. Staff from Medicare (Center for Medicare & Medicaid Services- CMS) will not call you ever, unless you have called CMS and they are calling back to address your situation. In that case, you will be expecting the call. In response to your question, how can you protect yourself from Scammers, I want to talk about an upcoming event that will ...

Do I Need Welcome To Medicare Medical Exam?

Question: I got information about a “Welcome to Medicare” medical exam. Do I have to do that? Answer: Medicare provides for the “Welcome to Medicare” preventive visit with your primary physician when you first enroll in Medicare. This physical is offered to you in the first year (12 months) of your Medicare Part B enrollment. The idea behind this program is that some individuals have not gone to a physician or the same physician with any regularity. Medicare knows that if you find out about medical problems early on, they are easier to treat. This physician visit may find some ...