How about you try New Home Improvement after your Retirement

How about you try New Home Improvement after your Retirement

When still in the work force, you will agree with me that home improvements in next to impossible. There are a number of reasons why we may not be in a position to improve our homes while we are still working. The first of these reasons is that most of our time is spent on raising kids, paying school fees and settling recurrent bills. These are some of the things that makes us unable to do home improvements. Secondly, day to day employment and work may not give us enough time to save for home improvements or even do home improvements on our own. There are a number of reasons, therefore, why home improvements is possible after retirement. Plan for the future of your healthcare and get a supplement plan from https://www.medicaresupplementplans2020.com/

Settling at home after retirement offers extensive free time

Retired individuals are found at home or spend more time at home more often than anybody else. In fact people will get up early hurry up for work but a retiree will have time to spend around home. Considering that we have time to spend back at home, we retirees need to do home improvements. If you once worked in a construction company, home improvements will be a source of pass time and this is where you will need to start doing some home improvements.

Home improvement is a source of satisfaction and fun

Satisfaction in old age comes with those things that we love doing. If you have just retired and feel like your home is not what you have always wanted, then you need to consider doing something about it. What you need to do is gather materials slowly, and when they are enough to do the job, it is time to do home improvements with your own hands. How do you feel when you do something exquisite with your own hands? There is always that feeling of satisfaction within you.

Home improvement gives you an opportunity to learn some basics

Learning does not stop when you retire or when you stop going to work but it is something you will encounter till your last minute on earth. Home improvements is a source or a school where you can learn something new. You can actually learn something like painting, refinishing furniture as well as assembling parts of your new house. Considering that you will not be in the rush to go to work, I am certain that you will learn quickly and a lot.

Seniors at the age of 60 and beyond can actually start a Side Business

Seniors at the age of 60 and beyond can actually start a Side Business

It is a dream to many to start a business after they retire. You will agree with me that you have ever dreamed of starting your own business as soon as your retire. Seniors who have started a business after they retire are not actually greedy or love money more than anyone. If you have just retired, then you have a reason to start your own business. People have reasons for starting a business. However, there are a number of reasons why you should start a business after you have retired.

A side business will save your pension money

Starting your business means that you are investing a portion of your money so that you can earn some income from profit. Whenever you earn some income from your business, you will certainly use that money to cover your day to day expenses. Whenever you earn some income from your business, you will agree with me that you will stop making daily trips to the bank to get some money so as to cover your expenses. The income that you will accrue from your business will help you reduce the rate at which you use your pension money. Your pension money will be used during that time when you will not be able to run your business.

Starting a side business is a source of satisfaction

Doing something that you love is a source of satisfaction. If you are an investor in the making, then make sure that you invest in a side business. The satisfaction will be enhanced when your business grow in terms of size and in terms of the returns that it will give you. For some seniors, the stability of their business is their source of satisfaction. It is therefore important to make sure that you start a business if it is what you love.

A side business is an important part-time

Sometimes you will wonder how to spend your time after you retire. The best thing to spend your time is to start a business. A small business is good in keeping you busy for the rest of the day. That is the reason why it is called ‘businesses. It is a place where activities of trying to look for extra money makes you busy. Start a business and enjoy your retirement. That is all I can say. Enrollment for 2020 supplement plans is easy at https://www.medisupps.com/medicare-supplement-plans-2020/

 

When Can Medicare Be A Second Contributor?

When Can Medicare Be A Second Contributor?

Payments from Medicare typically work perfectly. Generally, you pay a co insurance or co payment and do not have to worry about submitting a Medicare claim. If you have other health insurance apart from Medicare, Medicare could be a secondary contributor. Let’s see how that works.

What does being a secondary contributor mean?

If Medicare (or a Medicare insurance option, such as a Medicare Advantage policy) is not your only health insurance, Medicare and your other insurance company will decide on the coordination of benefits to determine who will pay first.  The principal contributor (i.e. the one who pays first) pays first his share of the medical expenses reimbursed. Then, the secondary contributor pays its own share of what the primary contributor has not paid. Sometimes there is also a third contributor. You may have to pay the balance of what insurers, including Medicare, have not paid.

When can Medicare pose as a secondary contributor?

When you have signed up to Medicare, Medicare will then coordinate benefits with other insurance you may have. Whether Medicare is the second or the main contributor will depend on your situation. Below are some situations when Medicare could be a secondary contributor:

You are insured by an employer group policy, for you or your spouse, and the employer has a minimum of 20 employees. Medicare is usually the secondary contributor. You are below 65 and is retired, and have a disability that is not ESRD. Perhaps your spouse is still working and you are insured with your spouse’s group policy. Your spouse’s employer has at least 20 employees or a group policy for multiple employers.

You are qualified for Medicare due to an end-stage renal disease (ESRD) and are insured by a group policy. There is a coordination time of approximately 30 months after you qualify for Medicare when Medicare is the second contributor. Get a Blue Cross Blue Shield Advantage plan at https://www.medicareadvantage2019.org/bcbs-medicare-advantage-plans-for-2019

When is Medicare the main contributor?

You are below 65 years and are retired, and you have a disability that is ESRD. Perhaps you are insured by your former employer’s health insurance.  If you still work and your employer employs less than 100 people, Medicare usually pays first. Medicare can however be the second contributor if your employer participates in group insurance for multiple employers. If you are still working and your employer has less than 20 employees, Medicare usually pays first. However, Medicare can be the second contributor if your employer participates in group insurance for multiple employers.

You are eligible for Medicare because you have end-stage renal disease and are insured by a group policy. After a coordination period of approximately 30 months, this Medicare is usually the main contributor.  Is Medicare the secondary contributor? That depends on your insurance.  Keep in mind that there are many different situations in which you have other insurance besides Medicare. The examples listed above are just some examples.  If you have any questions or wish to report changes to your health insurance policy, contact the Medicare Coordination and Recovery Benefits Center between 8:00 a.m. and 12:00 p.m. at 1-855-798- 2627 (TTY: 1-855-797-2627) Monday through Friday at 8:00 PM EST.

Make sure to take Advantage of Discounts from Hotels and Air Companies for seniors

Make sure to take Advantage of Discounts from Hotels and Air Companies for seniors

It is indeed a blessing to be old and it is a blessing for you to retire. Why am I saying so? It is simple. My argument is based on the fact that they are always respected and given priority over the others. For example, if you will go to a big Hotel in Indonesia, you will discover that they have reserved about 40 percent of the rooms for seniors and that does not change even if there is a boom in tourist business. This tells you that seniors are always respected. That is also the reason why they are always given discounts whenever they book a room in a hotel or even whenever they book a flight to their travel destination.

Why utilize the discounted services at hotels and flight companies?

There are a number of reasons why you need to take advantage of the discounts you may receive during your travel spree. The first reason is that it saves you money. Your retirement benefits are very important basically because once exhausted may not be recovered. You therefore need to take advantage of those discounts meant for the elderly so that you can save more and use whatever you have saved elsewhere. It is possible to make use of the discounted period so that you can spend less during your travels.

Secondly, you need to take advantage of the discounts because they are meant for you. Considering that old is gold, the discounted prices at the hotels or by the airline companies should not be mistaken for charity. Those airline companies are not giving you anything for free but they are simply appreciating you for coming and for using their services. That is why I am saying that as a retiree, you always need to take advantage of the discount period. At https://www.medicaresupplementplans2019.com enroll in a medicare supplement plan for 2019.

Thirdly, the discounts are a reward and in most case, they may be services that are of high quality and more than we could afford on our own. With that idea in mind, it is important to take that chance and experience the luxury that comes with discounted period. Accepting such discounts is also a basis of showing whoever is offering it that you love what they have given you and that you appreciate it too. Far from saving you money, discounts are also a source of extra luxury for free.

What Is New In Medicare Part D In 2018?

What Is New In Medicare Part D In 2018?

If you have Medicare Part D (i.e. prescription drug insurance) or policy to enroll in a separate Medicare Part D prescription drug policy, you may be interested in several trends related to costs in 2018.

The Medicare Part D premium may decrease

In their August 2017 press release, the Centers for Medicare and Medicaid Services announced that they expect a slight decrease in the average monthly Medicare Part D premium for 2018. The premium for Part D of Medicare 2018 is estimated by CMS to be at an average of $ 33.50 per month, compared to $ 34.70 per month as reported in 2017. This premium reduction will be the first since 2012 for Medicare Part D.  However, keep in mind that your independent Medicare Part D in 2018 may not be $ 33.50 per month. This is because the premiums depend on where you live, the policy you choose, and whether you qualify for the payment of your Part D premium.

Deductible limits from Medicare Part D to $ 405

Individual Medicare Part D policies for prescription drugs can charge an annual deductibles. The federal government sets a deductible for Medicare Part D every year. By 2018, a Medicare Part D policy cannot impose a deductible of more than $405, which is $5 more than the maximum deductible for Medicare 2017.  Bear in mind that many independent Medicare Part D prescription drug policies do not set the maximum deductible, i.e. $ 405 by 2018. Some policies have a lower deductible. Other policies may not have a deductible.

The insurance gap in Medicare Part D shrinks

If the total cost of your prescription attains a given amount, which the federal government sets each year, you pay more for your prescriptions. This is the Medicare Part D insurance gap, also known as the “uninsured period.” If you and your policy spent $ 201 in prescription drug costs, you are in the insurance gap. (That’s $ 50 more than 2017).  Visit www.medisupps.com/medicare-supplement-plans-2019/ to enroll in a medicare supplement plan to plan for the future.

At this point, you pay 35% of the cost of brand name prescription drugs and 44% of the cost of generic drugs until the total cost of your insured drug is $ 5,000 (i.e. $ 50 greater than the amount of 2017). If you reach this limit, you will pay a small amount for your insured prescription drugs for the rest of the year. The Medicare Part D insurance gap has been reduced every year since Congress passed the Affordable Care Act in 2010. The pension gap will close in 2020.

What does Medicare Part D insure?

Medicare Part D helps in the treatment of prescription drugs. Each policy has its own formulas or a list of medications that the policy insures, so not all policies necessarily insure the same medications. The formulas of a policy can change at any time. If necessary, you will receive a notification from your policy.  Each fall, your Medicare Part D prescription drug policy will provide you with an annual insurance statement that will tell you about any changes in next year’s insurance.

What Is New About The Medicare Card In 2018?

What Is New About The Medicare Card In 2018?

If you enrolled for Medicare, you can get a new Medicare card. From April 2018 till April 2019 next year, the Centers for Medicare and Medicaid will send new Medicare cards to more than 60 million Medicare beneficiaries. Since this shipment takes a while, you may not receive it the day your friend does. However, you must receive it before April 2019 if you have updated your address with the Social Security Administration. Find a 2019 medicare supplement plan at www.bestmedicaresupplementplans2019.com/ to obtain adequate coverage for your healthcare.

What is brand new about the new Medicare card?

The brand new Medicare card will not display your Social Security number anymore. Instead, it will specify a Medicare Beneficiary Identifier on your new Medicare card which is unique to you. By using an MBI to replace your social security number, Medicare protects you against fraud and identity theft, which CMS opines is an issue among American citizens of all age group.

What will remain the same with the new Medicare card?

Your benefits from Medicare will not alter due to your new MBI. The brand new Medicare card will show the Part A and B insurance and the date your insurance begins. Even if you have a Medicare Advantage policy card, you must have your new Medicare card with you.

How do one obtain the new Medicare card?

You do not need to request for a new Medicare card. It will be sent to you via mail. You do not have to make any payment for the new Medicare card.  If you are participating in a Medicare Advantage policy or a Prescription drug of medicare part d  policy, you can generally keep using your policy member card as before. Your Medicare Advantage policy and/or the Prescription drug of medicare part d  policy will send a new Medicare card to you showing your MBI if the policy currently uses your Social Security number.

When do you use your new Medicare card?

Once you have received your new Medicare card, you must destroy your old card and use it immediately. When you receive supplies and health services, show it to insurance personnel. The new Medicare card is the cheapest proof of Medicare insurance.

Medicare warns people against the protection of scammers who might try to leverage on the issuance of the new Medicare card. Consider the following points:  You do not have to pay for the card. Whenever anyone calls you and asks you to pay to get your new card, this is a scam. End the call and report the call to Medicare.

If a caller asks for your personal information, such as your social security number or Medicare number, end the call and report the caller as described above. Medicare will never call you and ask for personal information unless you called first (or they promised to call you back). You can also call your Medicare health policy or prescription drug policy and request this information if you are already enrolled in the policy.  Do not give your MBI or social security number to an unknown caller.  As you move, find out how to notify Medicare about your change of address.

What Is The Free Look Period For Medicare Advantage Plan?

What Is The Free Look Period For Medicare Advantage Plan?

What if you want to switch to another Medigap plan, but are you worried that you may get stuck with the new plan which you may not like as much as your previous plan? This is where the free look period of the Medicare Advantage Plan comes into play.

Before we delve into the free look period of Medicare Advantage Plan, let’s start with a brief summary of Medicare Advantage Plan Insurance (Medigap). As you know, Medicare Advantage Planal plans are offered by private insurance companies and are designed to close some of the Medicare coverage gaps i.e. some of your costs out-of-pocket, such as deductibles, co insurance, and co payments from Medicare Part A. You can get more information about Medicare Advantage Planal insurance.

How does the free look period of Medicare Advantage Plan work?

A free look period is a period that last for 30 days within which you have both your old Medicare Advantage Plan plan and the new plan. The free look Medicare Advantage Plan period allows you to try the new plan and see if it meets your coverage and customer service expectations before you decide to hold it. This free look period usually begins when you receive your new Medicare Advantage Plan plan.

Use the free Medicare Advantage Plan look period when you change plans

If you are satisfied with the customer service and coverage you obtain from your Medigap policy and you feel that the premium you paid is worth it, you do not need to take steps to extend your plan. Simply keep your Medicare Part A and B coverage and pay your Part B premium of Medicare (and, if applicable, your Part A premium) and your Medicare Advantage Planal insurance rate to maintain your year coverage year after year. If you are thinking of switching to another Advantage Planary Medicare plan, you can take advantage of the free Medicare Advantage Plan look period.

Get more information about the free look phase of Medicare Advantage Plan

Contrary to what the name suggests, the free look period of Medicare Advantage Plan is not free. Within this 30-day period, you will pay two premiums (in addition to your Part A and/or Part B): one for the insurer that provides your old Medicare Advantage Plan plan and the other for the insurer that will receive the new Medicare Advantage Planary plans.

As the end of the 30-day free look period of Medicare Advantage Plan approaches, you need to decide which of the two Medicare Advantage Plan plans you want to cancel. Should you cancel the new Medicare Advantage Plan plan, some states will permit you a refund of the premium you paid during the free look period. For more information, contact your State Health Insurance Plan (SHIP).  If you are using the Medicare Advantage Plan free search period, you may want to mark your calendar so that you remember to cancel the policy you do not want after the end of the period. You may want to keep your old policy for up to 30 days after receiving the new one. After you have canceled the previous plan, usually you cannot reactivate it.

What Is The Donut Hole?

What Is The Donut Hole?

Beneficiaries of Medicare can get Medicare Part D prescription drugs through a separate Part D prescription drug policy or a Medicare Advantage Prescription Drug Policy. In both scenarios, Medicare Part D prescription drug insurance takes place in 4 phases: the deductible, initial insurance limit, the period without insurance and catastrophic insurance.

Insurance prior to the Medicare donut hole

Deductible: There are some policies for prescription drugs have a deductible period. That is, you pay the full cost of your prescription drugs until you have your Medicare Part D deductible or the Medicare Advantage Prescription drug for the calendar year.  Initial insurance limit: At this stage of your Medicare Part D insurance, you pay co insurance or co payment for each insured drug. The specific amount of co insurance or co payment is usually based on the level (or tier) of your medication. Lower levels are usually less expensive (and could include cheaper generics).

Once the total annual cost of the drugs, including the cost you have paid and the cost of your Medicare Prescription Drug Policy or Medicare Advantage Prescription Drug Policy, has reached a fixed amount ($ 3,750 in 2018), you will enter to the phase of insurance interruption, also referred to as donut hole. Not all policies have a insurance gap or a period without insurance.

Insurance gap, also referred to as “donut hole”

As mentioned above, this insurance phase does not start unless your policy has a deficit and you and your policy will spend $ 3,750 in 2018. At this stage, you have limited insurance for your insured drugs. In 2018, you will pay 35% of the cost of the Brand Drug Policy and 44% of the cost of the generic Policy until your annual drug cost is $ 5,000. The amounts and percentages required to reach the period without insurance may vary from one year to another. Once you reach the annual drug cost limit for the Donut Hole for the year, you move on to the next phase, called catastrophic insurance.

For more information about your costs in the Medicare insurance gap, also known as the “insurance gap,” visit Medicare website.  Insurance beyond the donut hole of Medicare  Catastrophic Insurance: If you paid $ 5,000 for out-of-pocket drug costs in 2018, you will only have to pay a small co insurance or co payment for insured drugs by the end of the year. There are some beneficiaries who do not spend $ 5,000 on medication costs, so they may never reach catastrophic insurance this year.

Restrictions on the lid with donut hole:

Note: The cost and insurance information only applies to drugs included in the Medicare Part D prescription drug policy or in the Medicare Advantage Prescription Drug Policy (or prescription drug list). If your medications are not listed in the formulary of your policy, this will usually not be insured unless you can obtain a formulary exception. Bear in mind that the forms can change at any time. Your Medicare policy will notify you when necessary.

Medicare Plan F and Plan G Differences

One of the most comprehensive Medicare supplement plans out of the 10 Medigap plans is Plan F. This plan is available in most of the United States. Being a comprehensive Medicare supplement plan, it helps a Medicare recipient to help cover their out of pocket costs after the Original Medicare pays its amount. This being said, this an Aetna Medicare supplement plan may have premiums that will cost more. After Medicare Part A and Medicare Part B pays out the amounts for the hospital facility and physician costs that they allow, those that have Medicare supplement Plan F will probably not have any more health costs to pay.

Benefits of Medicare Supplement Plan F:
Medicare Part A deductible
Medicare Part A hospice care coinsurance or copayment
Medicare Part A hospital care and coinsurance costs up to an extra 365 days after Medicare benefits are gone
Medicare Part B deductible
Medicare Part B excess charges
Medicare Part B coinsurance
First three pints of blood needed in a medical procedure, each year
Nursing facility coinsurance
Foreign health care up to 80%

Medicare Supplement Plan G:
Medicare Supplement Plan G is almost the same as Medicare Supplement Plan F. These two plans will give the most benefits to fit a senior’s medical needs as opposed to the other plans available in other states. The main difference between these two plans is that Medicare supplement Plan G does not cover the Medicare Part B deductible. If you desire this plan, you will be responsible for the deductible. As with other Medicare supplement plans, this plan helps with the 20% remaining medical costs not covered by Original Medicare.

Benefits of Medicare Supplement Plan G:
Medicare Part A deductible
Medicare Part A hospice care coinsurance or copayment
Medicare Part A inpatient hospital coinsurance up to 365 days after Original Medicare benefits are gone.
Medicare Part B coinsurance or copayment
Medicare Part B excess charge
Nursing home care coinsurance
First three pints of blood used in a medical issue for one year
Foreign health care up to 80%
Medicare Supplement Plan F and Medicare Part B excess charges

All the Medicare supplement plans are standardized and they are classified by the letters A-N. These plans are sold by private Insurance companies, such as Aetna, Blue Cross Blue Shield and many others. The plans are the same, but the premiums will vary from insurance company to insurance company. It is important to look carefully at all the plans.