How To Handle Insurance If You’re Satisfied

October 28, 2024

Question: I looked at my insurance for 2025, it looks good and I don’t want to change my plan. Now what do I do? Answer: I spend a lot of time talking about changing your insurance coverage. But there are many individuals with Medicare who are looking at their coverage for 2025 and are finding it to still be a good and a useful product to them. The Medicare Annual Open Enrollment Period is well underway and we are hearing this from some individuals. The 2025 year has been a big year of change and there are many insurance plans that will not be available in the new year (at least 12 ...

Sorting Through The Deluge Of Insurance Mail

September 23, 2024

Question: I have been getting so much mail about insurance coverage and different plans. What is happening? Answer: There is so much insurance information flying around, it is hard to know what to pay attention to. What information is accurate and complete, and what is information just sent to you, so that you call and ask questions, so they can convince you to change your coverage? This question is similar to one I answered a couple weeks back, but a slightly different take on the issue. Each year between October 1 and December 7th everyone with Medicare gets slammed with mail from ...

Time Is Coming To Learn What Medication Will Cost Next Year

August 26, 2024

Question: I know what my medications cost me this year, but how will I know how much it will be next year? Answer: Each year we have insurance, the cost structures change. It doesn’t matter if we have employee health insurance, retiree coverage, Medicare coverage or a Marketplace plan. Insurance almost always changes year to year. As we approach the last quarter of 2024, we all begin looking to 2025 with anticipation. I want to focus on Medicare, since that is my specialty. In 2025 there are some major changes to Medicare Part D Standard Coverage. These changes have been widely ...

What To Keep When Cleaning Out A Wallet

August 12, 2024

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

August 5, 2024

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

July 22, 2024

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 ...