• Lifestyle

by vhiguera

February 20, 2020

Aetna Medicare Plans for Your Healthcare Needs

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Aetna Medicare Plans Go Beyond Original Medicare

Original Medicare is a federal health insurance plan that consists of Medicare Part A (hospital insurance) and Medicare Part B (medical insurance). To qualify, you must be 65 or over, and in most cases, you’re automatically enrolled in Part A and Part B once you’re eligible. In addition, individuals under 65 who receive Social Security disability insurance may qualify for Medicare.

Original Medicare coverage includes many health care services, yet some enrollees find that the plan isn’t sufficient enough to meet their needs. As a result, they end up spending a lot of their own out-of-pocket money. Original Medicare doesn’t include a prescription drug plan, nor does it include coverage for many other healthcare services such as vision or dental.

If you need more than what Original Medicare can offer, it’s time to explore Medicare plans offered through the private health insurance company Aetna.

To make sure you’re getting the most out of Medicare, here’s a look at some Aetna Medicare plans, which could be a better fit for your needs.

Is Aetna Medicare Supplement Insurance Right for You?

Since Original Medicare doesn’t cover all healthcare expenses, many people end up paying a lot for deductibles, copayments, and coinsurance. The good news is that there is a way to save money and reduce some of your upfront costs.

What is Aetna Medicare? To reduce your out-of-pocket Medicare expenses, you can purchase a Medicare Supplement insurance plan through Aetna. This is optional coverage, but well worth the cost because supplement insurance pays some of the healthcare costs that Medicare doesn’t.

Medicare Supplement insurance includes several plans with varying coverage amounts based on where you live. To learn about available plans in your area, search for Aetna Medicare supplement insurance in your state or speak with a licensed insurance agent to get a free, personalized Medicare Supplement quote.

An example of Medicare Supplement insurance plans offered through Aetna includes:

Is Aetna Medicare Advantage (Part C) Right for You?

If you’re looking for Medicare coverage outside the federal government, an Aetna Medicare Advantage plan could be what you’re looking for.

Medicare Advantage plans are also referred to as Medicare Part C. As a basic rule, any Medicare plan sold by a private insurance company must offer the same benefits as Original Medicare. For this reason, Medicare Part C automatically includes the benefits of Medicare Part A and Part B. In addition, you’ll receive benefits that Original Medicare doesn’t offer.

For example, several Medicare Advantage plans offered through Aetna also include prescription drug coverage. This is known as Medicare Part D. As people age, their healthcare needs change and certain medications might be needed on a regular basis.

Without prescription drug coverage, you would pay for many prescriptions yourself. Having a Medicare Part D plan, however, can reduce what you pay out of pocket for medication.

Keep in mind that some Medicare Advantage programs don’t include Part D as a benefit. So make sure you research plans carefully and then choose one that offers the coverage you need.

If you currently have Original Medicare, you may not pay a monthly premium for coverage. This isn’t the case with a Medicare Advantage program. Since Aetna is a private insurer, you may have a monthly premium, which can vary by plan and location.

Key points of an Aetna Medicare Advantage plan:

• Depending on the plan, you might be required to use doctors and hospitals within a specific network.
• These plans include additional healthcare benefits (dental, vision, hearing, non-emergency transportation, fitness programs).
• Coverage isn’t usually available outside the U.S.
• Some plans may have copayments, coinsurance, and deductibles. These are your out-of-pocket expenses for covered services.

You can enroll in Medicare Part C when you initially become eligible for Medicare. The Initial Enrollment Period is three months before the month of your 65th birthday and ends three months after your 65th birthday.

You can enroll later if you don’t enroll at this time, but only during annual Open Enrollment Periods.

How Does Aetna Medicare Part D (Prescription Drug Coverage) Work?

You don’t have to enroll in an Aetna Medicare Advantage program to get Medicare Part D prescription drug coverage.

While Medicare Part D is included as a benefit in some Medicare Advantage plans, there’s also the option to purchase Part D coverage alone.

If you purchase Medicare Part D as a standalone policy, you may pay a monthly premium for coverage. In addition, your plan may include a deductible and copayments.

Purchasing a standalone policy is beneficial if you have Original Medicare, which doesn’t automatically include prescription drug coverage. Ignoring or thinking you don’t need this type of coverage can be a costly mistake. Some prescription medications are inexpensive, but others can cost hundreds of dollars each month. According to Aetna, it’s estimated that approximately “40% of people over the age of 65 take five or more medications per day.”

With regard to Medicare Part D enrollment, experts agree it’s best to enroll in a plan when you initially become eligible for Medicare. Your Initial Enrollment Period is also the three months before your 65th birthday and three months after your 65th birthday.

You can enroll after your Initial Enrollment Period during open enrollment but you may pay a higher premium for coverage.

When is Aetna Medicare Open Enrollment?

The best time to enroll in an Aetna Medicare plan is when you are first eligible. If you choose to enroll at a later time, you can only do so during open enrollment, which is every year from October 15 to December 7.

During open enrollment season, you can enroll in Medicare for the first time, switch from Original Medicare to Medicare Advantage Part C, as well as switch to a different Medicare Advantage program. Open enrollment is also when you’re eligible to sign up for Medicare Part D and a Medicare Supplement insurance plan.

Understanding how Medicare works and its different parts is how you’re able to get the most out of your coverage. Medicare is not one size fits all, so a plan that works for someone else might not work for you. Do your homework, ask questions, and work with an expert to choose an Aetna Medicare plan that will meet your individual healthcare needs.

• Health and Wellness

by vhiguera

January 30, 2020

Mutual Of Omaha Medicare Plans

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A Mutual of Omaha® Medicare plan is a great option if you’re looking for additional Medicare coverage to meet your healthcare needs. Founded in 1909, Mutual of Omaha was one of the first carriers to offer supplemental Medicare insurance to consumers. As of January 2019, A.M. Best Rating Services gave Mutual of Omaha an A+ (Superior) rating. 

Medicare Part A (hospital) and Part B (medical insurance), also known as Original Medicare, only covers about 80% of medical costs and doesn’t include a prescription drug plan. Without a more comprehensive health insurance plan through a private insurer like Mutual of Omaha, you could end up paying a lot of your healthcare costs out-of-pocket. 

Mutual of Omaha Supplement Insurance Plans

Although a Mutual of Omaha Medicare Advantage plan offers comprehensive benefits, you might prefer to remain enrolled in Original Medicare. If so, consider enrolling in a Mutual of Omaha Medicare Supplement insurance plan, also known as a Medigap plan, to work alongside Original Medicare. 

As one of the first insurance companies to offer Medicare Supplement or Medigap plans, Mutual of Omaha now offers a variety of plan options with benefits that include: 

• Lower Out-of-Pocket Expenses. Medicare Supplement plans pay some of the costs that Original Medicare doesn’t, such as copays, coinsurance, and deductibles. 
• No Referrals Needed to See a Specialist. You can see any doctor without a referral, including specialists, as long as the provider accepts Medicare. And, you don’t need to worry about finding in-network providers with Medicare Supplement.
• Nationwide Coverage. You can use your plan anywhere Medicare is accepted, including outside your home state and outside the country. 
• Guaranteed Renewable. 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.

There are 10 standardized Medicare Supplement insurance plans, each with differing amounts of coverage:

While the details of plan coverage will vary by state, Mutual of Omaha’s most popular Medicare Supplement plans include: Plan F (may no longer be offered after 2020), Plan G and Plan N.

Medicare Supplement Part G:

• Offers lower monthly premiums than many other supplement plans
• You pay the Part B deductible
• Increasing in popularity as Plan F is phasing out

Medicare Supplement Part N:

• Often the choice of individuals on a budget, with lower monthly premiums than Part G
• You pay the Part B deductible
• As a tradeoff for lower premiums, you are responsible for some copays ($20 for doctor visits and $50 for emergency room visits)

You can only purchase a Mutual of Omaha Medicare Supplement insurance plan if you have Original Medicare. You cannot combine it with a Medicare Advantage plan. 

Mutual of Omaha Medicare Advantage Plans

A Medicare Advantage plan, also called Medicare Part C provides an alternative to Original Medicare. Medicare Advantage plans replace Medicare Part A and Part B, including all of the same coverage as Original Medicare while offering additional benefits, too. 

Mutual of Omaha Medicare Advantage plans include the following all-in-one coverage and benefits:

• Medicare Part D Prescription Drug Coverage. One feature that separates Mutual of Omaha’s Medicare Advantage plans from Original Medicare is that they include a Medicare Part D prescription drug plan. Many Medicare Advantage plans have coverage for prescription medication—generic and brand. With a Mutual of Omaha Medicare Advantage plan, you’ll have a low copay for medications, helping you save money.
• Dental Coverage. Along with regular doctor visits, Mutual of Omaha’s Medicare Advantage plans include dental benefits. This coverage extends beyond basic coverage to protect your teeth and gums. 
• Vision Coverage. You’ll receive coverage for routine eye examinations, contact lenses, and eyeglasses and no extra charge.
• 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.
• Free Enrollment in the Silver Sneakers Fitness Program. Being physically active is an excellent way to maintain a healthy weight and heart. Through Mutual of Omaha’s Medicare Advantage plans, you’ll receive a free gym membership.
• Medical Transportation Benefit. Mutual of Omaha’s Medicare Advantage plans include a transportation benefit to cover the cost of travel to doctor appointments. Depending on your diagnosis or condition, it may also cover non-emergency ambulance service to and from your doctor.
• Over-the-Counter Allowance. Each quarter, Mutual of Omaha’s Medicare Advantage plans provide an allowance for over-the-counter health-related items. Covered items range from bandages to non-prescription medications.

Mutual of Omaha Medicare Part D Prescription Drug Plans

If you’re enrolled in Original Medicare and need prescription drug coverage, you can sign up for stand-alone Medicare Part D prescription drug coverage through Mutual of Omaha. 

Working alongside your Original Medicare and/or Medicare Supplement plan, Mutual of Omaha’s Part D plans offer the following benefits:

• Reduced out-of-pocket costs for generic and brand prescription medications. 
• Low monthly premiums.
• Low copays on commonly prescribed drugs.
• Low deductibles.
• Preferred pricing at more than 24,000 pharmacies nationwide.

How to Enroll in a Mutual of Omaha Medicare Plan

Mutual of Omaha has provided financial solutions and insurance protection since 1909. Whether you’re looking for a Medicare Advantage plan or Medicare Supplement insurance, this company offers several options for reducing your out-of-pocket costs and increasing your available benefits. 

To be eligible for Medicare Advantage, and a Mutual of Omaha Medicare plan, you must be 65 and enrolled in Original Medicare. The initial open enrollment period for Medicare Advantage and Medicare Part D begins three months before your 65th birthday and ends three months after your 65th birthday. 

To enroll at a later time (or change plans), open enrollment 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.

If you’re thinking about enrolling in a Mutual of Omaha Supplement insurance plan, you must first enroll in Original Medicare. Also, you must sign up for Medicare Supplement insurance during the six-month window starting the month you turn 65, to avoid medical underwriting.

Operating a small business takes money — sometimes, a lot of it. But while some small business owners rely on business loans, lines of credit, and (gulp) even their home equity, these aren’t the only ways to get your hands on much-needed cash. The same way you can use a credit card for personal use, you can also use a credit card for business use. In fact, a survey conducted by the Federal Reserve found that more than half of small business owners used a credit card for operations on a regular basis. A business credit card can be extremely valuable if used correctly. Here’s our step-by-step guide on how to get a business credit card.

• • Why Apply For A Business Credit Card
  • Step-By-Step Guide To Getting A Business Credit Card
  • Application Tips

WHY APPLY FOR A BUSINESS CREDIT CARD?

Applying for a business credit card isn’t required to be a legit business owner. But it has its advantages. You can conserve cash when buying equipment and supplies. Plus, a business card can establish your company’s credit score.

Having a business credit score allows you to apply for financing using only your business credit. It’s also an excellent way to separate your business credit from your personal credit.

Yet, some business owners feel that their company is too small to apply for a business credit card. The truth is, you don’t have to operate a large Fortune 500 company to get a business card. In fact, you don’t even have to be incorporated or an LLC.

Many sole proprietors have business credit cards. And there’s no rule that says you must have employees to qualify. You can be a one-man show, whether you’re a landscaper or a freelancer.

STEP-BY-STEP GUIDE TO GETTING A BUSINESS CREDIT CARD

Not sure where to start? We recommend following these four steps.

1. Decide Which Card Is Right for You

There’s no one-size-fits-all credit card. This applies to personal credit cards as well as business credit cards, so don’t apply for a card at random. Do your due diligence and find a card that fits the needs of your business.

• • Will you regularly purchase supplies or equipment? If so, look for a business credit card that pays you with cash back rewards. 
  • Will you travel frequently for business? In this case, choose a card where you earn points or miles redeemable for airfare, hotels, free baggage check, and more.

Keep in mind that while some business credit cards have higher credit limits than personal credit cards — which makes them attractive — they also tend to have annual fees and higher interest rates.

2. Compare Credit Card Rates And Fees

Before settling on a particular business credit card, calculate the cost of being a cardholder. Sure, you might like a credit card brand and its rewards, but what are you getting for your money?

Bottom line: A card’s perks should be worth any annual fee, and make sure you know the annual percentage rate (APR). The lower your APR, the better. You won’t know your actual rate until after you’re approved. The application, however, will have APR ranges. This provides an idea of where you might fall on the scale.

3. Check Your Personal Credit Score

Always, always, always check your personal credit score before applying for a business credit card.

Since your business has yet to establish credit of its own, it’s commonplace for credit card issuers to base approvals on an applicant’s personal score.

They’ll pull your credit report, check your score, and review your payment history, debts, and the length of your credit history. This is how they gauge whether you’re an ideal candidate for a business credit card. You don’t need perfect credit to qualify. If you check your score and feel it’s too low to qualify for a business credit card, you can: 

1. 1. Look into a secured credit card to help build your credit
   2. Take time to boost your score. Pay off your personal credit card debt, pay your bills on time, and dispute errors on your credit report.

4. Calculate Your Income

When filling out an application for a business credit card, you’ll also need to provide annual income information. Not just income from your business, but income from other sources, too. Some people operate a small business while continuing to work part-time or full-time with an employer. If this applies to you, don’t forget to include this income.

5. Complete The Credit Card Application

Once you’ve narrowed down the right business credit card, it’s time to start the application process. 

Applications vary, depending on the issuing bank. But you’ll be asked to provide your business name, or your name if you’re a sole proprietor. Other information you’ll need includes:

• • Employer identification number (EIN) or Social Security number (SSN)
  • Your role or title in the business
  • Contact information (address, phone number)
  • Number of employees
  • Type of business
  • Years in business
  • Annual income
  • Estimated monthly spend (how much you’ll put on the credit card)

Be mindful that you might have to sign a personal guarantee when applying for a business credit card. Basically, you agree to be responsible for the debt in the event that the business fails. So although the credit card is in your business name, you’re still liable for the balance.

APPLICATION TIPS

Don’t let the application process overwhelm you.

1. Choose a bank that reports to the business credit bureaus

The goal of getting a business credit card isn’t just to have a line of credit for your business. It’s also to build credit that’s separate from your personal credit. For this to happen, though, the bank must report your activity to the three main business credit bureaus (Dun and Bradstreet, Equifax Business, and Experian Business). Having your activity reported is key to building a business credit score, which can make it easier to get future business loans and lines of credit.

2. Apply for a secured business credit card 

In the event that you’re denied an unsecured business credit card — maybe because you have a low credit score or no credit score — don’t lose hope. Another option is applying for a secured business credit card through a bank. A secured business credit card requires a security deposit that acts as collateral. This deposit isn’t a form of prepayment, though. Rather, the bank holds your deposit in an interest-bearing account, and only touches these funds if you don’t pay what you owe. To illustrate how it works: If you apply for a secured card and give the bank a $2,000 deposit, you’ll receive a business credit card with a $2,000 credit limit. Once you demonstrate a history of successfully managing the credit card, the bank may refund your deposit and convert your secured card to an unsecured business card.

3. Get a business credit card from your personal bank

If your personal bank offers business credit cards, this is a great place to start shopping for a card. It might be easier to get approved given your existing relationship.

4. Pay your credit card bill on time

Maintaining a good payment history builds a strong business credit score, and it helps keep your balance low. Always pay your bill on time each month, and whenever possible, pay off your balance in full every month to avoid long-term business debt.

FINAL WORD 

Although you don’t need a business credit card to operate a business, getting one has its benefits. You’re able to buy equipment and supplies without tying up your cash, you can establish a business credit score, and you can separate your business credit from your personal credit.

So whether you’re a self-employed freelancer or own a small business with employees, a business credit card can boost your company’s purchasing power and streamline finances.