• Health and Wellness

by amorton

January 23, 2020

Blue Cross Blue Shield Medicare Health Plans

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The Right Blue Cross Blue Shield Medicare Plan for You

Looking for the right health insurance plan? Medicare health plans offered are for:

• U.S. citizens age 65 and over, or
• Citizens under 65 with certain disabilities or medical conditions

Medicare has different parts: A, B, C, D. Each part is designed to help cover different healthcare costs. While Medicare Part A and Part B (Original Medicare) provide coverage for many health care costs, there are limitations and out-of-pocket expenses. Because of these limitations and out-of-pocket expenses, many individuals choose to enroll in a Medicare Part C (Medicare Advantage) plan or a Medicare Supplement (Medigap) plan. 

Original Medicare Plans

Medicare Part A and Part B are also known as Original Medicare.

Part A covers (with certain limitations):

• Inpatient care offered in hospitals or skilled nursing facilities
• Inpatient mental health care
• Hospice care for the terminally ill

Part B covers (with certain limitations):

• Doctor services
• Outpatient care
• Medical supplies
• Durable medical equipment
• Preventive services

Now, let’s take a deeper look at Blue Cross and Blue Shield Medicare’s Advantage and Supplement plans.

Blue Cross Blue Shield Medicare Advantage Plans

Medicare Part C plans, also known as Medicare Advantage plans, cover everything included in Part A and Part B and also provide additional benefits. Medicare Advantage plans are offered through private health insurance companies, like Blue Cross Blue Shield who contract with the government and are approved by the Centers for Medicare & Medicaid Services (CMS). 

Medicare Advantage plans include health maintenance organizations (HMOs), preferred provider organizations (PPOs), regional PPOs, and private fee-for-service plans. 

In addition to the coverage found in Original Medicare, Medicare Advantage plans offer additional benefits and coverage, such as:

• Wellness programs
• Hearing aids
• Vision services

Most Medicare Advantage plans also provide prescription drug coverage.

How Can I Enroll in a Blue Cross Blue Shield Medicare Advantage Plan?

You must first enroll in Medicare Parts A and B before signing up for a Medicare Advantage plan. 

You have the option to enroll in a Medicare Advantage plan or change Medicare Advantage plans during the the Annual Election Period (AEP) which occurs each year from October 15 – December 7. During AEP you can:

• Join a Medicare Advantage plan
• Leave your Medicare Advantage plan and return to Original Medicare (Part A and Part B)
• Switch from one Medicare Advantage plan to another
• Add or change your prescription drug coverage (Part D) plan if you are in Original Medicare

If you are already enrolled in a Medicare Advantage Plan, you are also able to change your plan during the Medicare Advantage Open Enrollment Period (MA OEP) which occurs annually from January 1 – March 31. MA OEP is a new enrollment period which began in 2019. During MA OEP you can:

• Leave your Medicare Advantage plan and return to Original Medicare (Part A and Part B)
• Switch from one Medicare Advantage plan to another

Blue Cross Blue Shield Medicare Supplement (Medigap) Plans

If you have Medicare Part A and Part B coverage, Medicare Supplement (also called Medigap) plans can help you pay for out-of-pocket costs, such as coinsurance, copayments, and deductibles.

Like Medicare Advantage plans, Medigap plans are offered through private insurance companies. 

How Can I Enroll in a Blue Cross Blue Shield Medicare Supplement Plan?

You must first enroll in Medicare Part A and Part B before joining a Medigap plan. 

The Open Enrollment Period for Medigap is the six-month period that starts the first day of the month you turn 65 or older and are enrolled in Original Medicare. Your ability to opt into a specific Medigap plans depends on which state you live in.

Once you’re enrolled in a Medigap plan, it renews annually as long as you pay your premium and the plan is available.

Medicare Prescription Drug Coverage (Medicare Part D)

Medicare Part D, also known as the Medicare prescription drug plan, is offered by private health insurance companies and covers your prescription drug costs for covered medications. 

You can select a Medicare prescription drug plan (PDP) in addition to:

• Original Medicare (Part A and Part B)
• Original Medicare (Part A and Part B) with a Medigap Plan

Medicare Part D coverage is included in most Medicare Advantage (Part C) plans.

Blue Cross Blue Shield Medicare Coverage FAQs

Q: Can I have the Blue Cross Blue Shield Medicare Advantage plan and a Medicare Supplement plan at the same time?

A: No. You must pick between the Medicare Advantage plan (Part C) or a Blue Cross Blue Shield Medicare Supplement plan. It is against federal law for someone to be enrolled in both plans at the same time.

Q: How is Medicare different from Medicaid?

A: Medicaid is a state-based health insurance program that helps low-income individuals and families, people with disabilities and older individuals.

Medicare is a federal health insurance program designed primarily for people 65 and older as well as for people under age 65 who have disabilities and/or certain medical conditions.

Medicaid eligibility differs from Medicare eligibility. Certain rules apply for individuals eligible for both Medicare and Medicaid.

Blue Cross Blue Shield and Your Health Care Needs

Getting Original Medicare is a good start for basic health care coverage. But you also have additional options with Blue Cross Blue Shield Medicare to help cover more of your health care needs.

Medicare Advantage plans focus on providing additional health care services, including prescription drug coverage. Medicare Supplement or Medigap plans focus on helping to keep your out-of-pocket costs for health care affordable.

To learn more about Medicare Advantage, Medicare Supplement, and prescription drug plans, you can obtain a free, personalized quote.

• Health and Wellness

by amorton

January 18, 2020

Get the Protection You Need With a Mutual of Omaha Medicare Plan

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Enrollment in Medicare, a U.S federal health insurance program, can provide you with coverage for hospitalization, doctor appointments, preventative care, labs, and medical tests. You’re eligible for Original Medicare at age 65, which includes Medicare Part A (hospital) and Medicare Part B (medical insurance).

But while original Medicare adequately meets the healthcare needs of many older adults, it doesn’t offer extensive coverage. It only covers about 80% of medical costs, and it doesn’t include a prescription drug plan. As a result, you could end up paying a lot for health care out of pocket. A health plan with comprehensive benefits can prove more cost-effective as you approach retirement. For this reason, you should look into a Mutual of Omaha Medicare Advantage or Medicare Supplement plan.

How Does Mutual of Omaha Medicare Advantage Work?

A Medicare Advantage plan is Medicare offered by a private insurance company. These plans include the same basic coverage as Original Medicare, in that they offer Medicare Part A and Medicare Part B. However, these plans offer additional coverage, too. 

Mutual of Omaha’s Medicare Advantage plan functions as all-in-one medical care. You’re covered for hospital stays (with the exception of hospice, which you’ll get under Original Medicare), skilled nursing facilities, doctor’s visits, preventative care, labs, medical tests, and other health care. 

Other coverage included in a Mutual of Omaha Medicare Advantage plan:

1. Medicare Part D Prescription Drug Coverage 

One feature that separates Mutual of Omaha’s Medicare Advantage plan from Original Medicare is that the latter doesn’t include a prescription drug plan (PDP). Medicare Advantage plans include coverage for prescription medication — generic or brand prescriptions. Under Medicare Part D, you’ll pay a low copay for medications, helping you save money.

2. Dental and Vision Coverage 

In addition to regular doctor visits with a specialist or primary care physician, Medicare Advantage plans include dental benefits that extend beyond basic coverage to protect your teeth and gums. You’ll also receive coverage for routine eye examinations, contact lenses, and eyeglasses at no extra charge.

3. No Copays for Lab Tests

Copays and coinsurance for lab tests can be expensive, so you may delay scheduling a recommended test. When you sign up for Mutual of Omaha’s Medicare Advantage plan, you won’t pay a copay for most labs or tests.

4. Free Enrollment in the Silver Sneakers Fitness Program

Being physically active is an excellent way to maintain a healthy weight and promote heart health. Through Mutual of Omaha’s Medicare Advantage plan, you’ll also receive a free gym membership through the Silver Sneakers Program.

5. Medical Transportation Benefit

If you need assistance getting to and from your doctor appointments, this plan includes a transportation benefit to cover the cost of travel to appointments. Depending on your diagnosis or condition, it may also cover non-emergency ambulance service to and from your doctor.

6. Over-the-Counter Allowance

Each quarter, Mutual of Omaha’s Medicare Advantage plan gives you an allowance toward over-the-counter health-related items. Covered items range from bandages to non-prescription medications.

How to Enroll in a Mutual of Omaha Medicare Advantage Plan

If you feel that a Medicare Advantage program through Mutual of Omaha is the right fit for you, enrollment is during the seven-month period when you initially become eligible for Medicare. This period begins three months before your 65th birthday and ends three months after your 65th birthday. 

To enroll at a later time (or switch plans), the Open Enrollment Period occurs each year from October 15 to December 7. If you enroll during the annual open enrollment, your coverage doesn’t begin until January 1. You might be eligible to take advantage of special enrollment periods if you move to a different area, or if you lose your health insurance coverage at work.

If you have health insurance through work, speak with your employer first to see how enrollment in a Medicare Advantage plan will affect your coverage at work. Otherwise, speak with a licensed insurance agent who can guide you on choosing a plan that is right for you.

Do You Need Mutual of Omaha Supplement Insurance?

But while a Mutual of Omaha Medicare Advantage plan is necessary for some seniors due to the extra benefits, you might be okay with Original Medicare. In this case, consider enrolling in a Mutual of Omaha Medicare Supplement insurance plan to pay costs that Original Medicare doesn’t cover (copays, coinsurance, and deductibles). 

One benefit of getting a Mutual of Omaha Medicare Supplement insurance plan is that you’re able to use your plan anywhere Medicare is accepted, including in different states and when traveling internationally. 

There are 10 basic standardized Medicare Supplement insurance plans, each with varying coverage amounts that vary by state. You’ll need to review these plans and then determine which one is right for you. 

Another benefit of supplemental insurance is that your plan can never be canceled, as long as you continue to pay your premiums. Also, you can’t be denied for pre-existing health conditions if you apply during open enrollment. This period starts once you turn 65 and enroll in Medicare Part A and Part B, but it only lasts for six months. 

Keep in mind that Medicare Supplement insurance can only be purchased if you have Original Medicare. It cannot be combined with a Medicare Advantage program. You can, however, purchase a standalone Medicare Part D prescription drug plan to accompany your Mutual of Omaha Medicare Supplement insurance.

Even though there are 10 standardized Medicare Supplement insurance plans. Mutual of Omaha’s most popular plans include: Plan F, Plan G, and Plan N.

Final Word

Whether you’re interested in learning about enrollment in Medicare, or just looking for a Medicare Advantage plan or Medicare Supplement insurance, Mutual of Omaha has a Medicare solution to help reduce your out-of-pocket costs. Speak with Mutual of Omaha to learn more about these Medicare plans and request a quote.

SOURCES:

“The Official U.S. Government Site for Medicare.” Medicare. Accessed January 16, 2020. https://www.medicare.gov/.

“How Original Medicare Works.” Medicare. Accessed January 16, 2020. https://www.medicare.gov/what-medicare-covers/your-medicare-coverage-choices/how-original-medicare-works.

“What Is Hospice?” Hospice Foundation of America. Accessed January 17, 2020. https://hospicefoundation.org/Hospice-Care/Hospice-Services.

How To Choose A Credit Card In 7 Easy Steps 

A credit card is a lot like a relationship, it can be full of fun and excitement, but if you aren’t careful it can end in heartbreak. When choosing a credit card, you’ll most likely be in a long-term relationship. Understand your options and ask yourself the right questions. As your matchmaker, I will help you create a beautiful life with your credit card with these 7 easy steps. 

1. Decide On The Primary Use Of The Card

The most important step in your decision-making process is to pinpoint why you want to get a credit card. Do you want to be able to travel more often? Do you want to get more out of your daily spending? Do you need debt consolidation or business funding?

If you want to travel, a card with travel rewards would be best for you. If you require debt consolidation or business funding, look at cards with low-interest rates or credit cards specifically for businesses.

Set a goal and do your research to decide what card options would be best for your desired use.

2. Analyze Your Credit

Do you have good or bad credit? Be honest and realistic with yourself when choosing a credit card. The best credit cards require good credit scores. The better your score, the higher the chance you have of being approved for a card with better rewards.

Other factors can also play a role in qualifying you for a credit card. You might be declined for a credit card even though you have a great credit score and pay your balance on time. Contributions that can lead to credit card denial include the length of time you’ve had credit, your debt-to-income ratio, and having too much debt. 

Free resources to check your credit score:

• • Free FICO score from credit card issuers
  • Credit Bureaus (Equifax, Experian, and TransUnion)

If your credit score doesn’t warrant preferable credit card options, don’t freak out. There are ways to improve your credit, from modifying your spending habits to making consistent on-time payments. Also, consider getting a secured credit card if your credit needs improving. This card requires a cash security deposit, making them a good option for people with less satisfactory credit scores.

3. Look At Your Spending Habits

Do you plan to pay off the credit card every month or hold a balance? Are you only using it for “rainy day” emergencies or will it be used daily? Consider your spending habits when choosing a credit card, especially if you’re not planning to carry a balance. This means finding a credit card that you can use to your advantage.

• • If you plan to carry a balance, look for a card with the lowest interest rate possible. 
  • If you’re going to pay the bill every month, look for a card with no annual fee. 
  • If your card will be used daily, look for a card with a generous rewards program and credit limit. 
  • If your card will be used for “rainy day” emergencies, look for a card with minimal fees and a low-interest rate. 

Many cards give bonus rewards points and cashback for specific purchases. Think about your frequent purchases and the card that will complement your lifestyle. Some cards provide rewards for:

• • Gas
  • Groceries
  • Travel purchases, such as hotels and airline tickets
  • Business purchases 
  • Restaurants 

4. Research The Credit Cards Available To You

Once you decide on how you will mainly use the card, research the specific types of cards within that card category. Card categories include: 

• • A travel credit card 
  • A balance transfer credit card 
  • A business credit card
  • A cashback credit card
  • A card with 0% APR 
  • A secured credit card  
  • A premium credit card

5. Narrow Down The Best Rewards 

After pinpointing your card category, make a list of the cards that make the most sense. It’s important to get a card with rewards you will use. 

What card will give you the best value for your current lifestyle? If your goal is to save money on groceries and shopping, earning points on those purchases might be ideal. If you’re planning multiple trips for upcoming holidays, a card that rewards you in travel mileage and hotel stays might be best.

Credit card options are vast, so to prevent yourself from becoming overwhelmed, create a list of 3-5 cards and narrow it down from there.

6. Compare Offers And Conditions 

Key features of a credit card to pay attention to include: 

• • APR: The interest you pay on a card when you carry a balance. Many cards advertise 0% APR for the first 12 to 18 months, then interest goes up. 
  • Balance: The total amount owed on a credit card, including fees. Interest, and purchase charges. Higher balances lower your credit score. 
  • Sign-up Bonus: A special bonus for meeting certain requirements. Gives credit card users a way to earn rewards quickly. You have to meet spending requirements within a specific time frame. 
  • Credit Limit: The maximum balance you can hold on a credit card at one time. You may be charged a fee for exceeding your credit limit.
  • Rewards: The points you earn on specific items via credit card spending. These may equal 1-2% of your general spending or specified purchases like gas and groceries. 
  • Annual Fee: Sometimes there is an annual cost to having a particular credit card. 
  • Other Fees: Some cards have a foreign transaction fee if you use your card while abroad. You may also want to look into late fees, balance transfer fees, or fees for cash advances. 
  • Unique Perks: Some cards come with extra perks like concert and movie tickets, roadside assistance, gym memberships, Uber credits and more. 

 7. Apply For A Credit Card 

After you have compiled all your research, pick the card that is right for you. You can apply online and get the answer within a few minutes, depending on your credit history. 

Remember a relationship takes effort and it may not always work out the first time. Every few years, come back to these seven steps and make sure you still have a card that best fits your lifestyle.