What Is Medicare Supplement Insurance?

                      *repost: https://www.medicare.gov/supplement-other-insurance/medigap/whats-medigap.html               What's Medicare Supplement Insurance (Medigap)?

A Medicare Supplement Insurance (Medigap) policy, sold by private companies, can help pay some of the health care costs that Original Medicare doesn't cover, like copayments, coinsurance, and deductibles.

Some Medigap policies also offer coverage for services that Original Medicare doesn't cover, like medical care when you travel outside the U.S. If you have Original Medicare and you buy a Medigap policy, Medicare will pay its share of the Medicare-approved amount for covered health care costs. Then your Medigap policy pays its share.

A Medigap policy is different from a Medicare Advantage Plan. Those plans are ways to get Medicare benefits, while a Medigap policy only supplements your Original Medicare benefits.

8 things to know about Medigap policies 

1. You must have Medicare Part A and Part B.
2. If you have a Medicare Advantage Plan, you can apply for a Medigap policy, but make sure you can leave the Medicare Advantage Plan before your Medigap policy begins.
3. You pay the private insurance company a monthly premium for your Medigap policy in addition to the monthly Part B premium that you pay to Medicare.
4. A Medigap policy only covers one person. If you and your spouse both want Medigap coverage, you'll each have to buy separate policies.
5. You can buy a Medigap policy from any insurance company that's licensed in your state to sell one.
6. Any standardized Medigap policy is guaranteed renewable even if you have health problems. This means the insurance company can't cancel your Medigap policy as long as you pay the premium.
7. Some Medigap policies sold in the past cover prescription drugs, but Medigap policies sold after January 1, 2006 aren't allowed to include prescription drug coverage. If you want prescription drug coverage, you can join a Medicare Prescription Drug Plan (Part D).
8. It's illegal for anyone to sell you a Medigap policy if you have a Medicare Medical Savings Account (MSA) Plan.

Medigap policies don't cover everything

Medigap policies generally don't cover long-term care, vision or dental care, hearing aids, eyeglasses, or private-duty nursing.

Insurance plans that aren't Medigap

Some types of insurance aren't Medigap plans, they include:

• Medicare Advantage Plans (like an HMO, PPO, or Private Fee-for-Service Plan)
• Medicare Prescription Drug Plans
• Medicaid
• Employer or union plans, including the Federal Employees Health Benefits Program (FEHBP)
• TRICARE
• Veterans' benefits
• Long-term care insurance policies
• Indian Health Service, Tribal, and Urban Indian Health plans

Dropping your entire Medigap policy (not just the drug coverage) 

If you decide to drop your entire Medigap policy, you need to be careful about the timing. For example, you may want a completely different Medigap policy—not just your old Medigap policy without the prescription drug coverage. Or you might decide to switch to a Medicare Advantage Plan that offers prescription drug coverage.

You have to pay a late enrollment penalty when you join a new Medicare drug plan if:

• You drop your entire Medigap policy and the drug coverage wasn't creditable prescription drug coverage, or
• You go 63 days or more in a row before your new Medicare drug coverage begins

To learn more about the costs of MediGap: https://www.medicare.gov/supplement-other-insurance/medigap/costs/medigap-plan-costs.html

Long Term Care Awareness Month

LTC Awareness Month >>>
Eight Things People Should Know

*REPOST* Brought to you by: Mutual of Omaha

November is LTC Awareness Month – time again to devote your efforts to helping people understand the importance of planning for their future long-term care needs.

This can be challenging...especially for those who find it hard to see themselves needing help with the most basic daily activities, like bathing or dressing. Yet, taking accountability for their future care and planning for that day is something everyone should do.

Here are eight things they should consider when developing a plan for long-term care:

1. Planning for long-term care is important. Most people will tell you they plan to live a long life. But with age comes the need for help with some of the things they always did for themselves. According to the U.S. Department of Health and Human Services, 70 percent of people who reach age 65 will need LTC services at some point in their lives
2. LTC services are expensive. Mutual of Omaha’s cost-of-care survey revealed that just one year in a nursing home can cost nearly $80,000 (based on national averages). Home health care is less expensive, but people still can expect to pay over $36,000 per year on average for care they receive at home.
3. You can’t rely on Medicare. Many people mistakenly believe their LTC needs are already covered. In reality, Medicare only covers services for a short time – typically just long enough to help people get back on their feet after an illness or injury.
4. Medicaid isn’t for everyone. It’s true. Medicaid does cover LTC services. But it’s important to remember that Medicaid is a program for people with low incomes and limited resources. That may mean your clients would have to spend down their assets just to qualify. Not an attractive option for people who want to protect the assets they worked a lifetime to accumulate and leave a legacy for their children.
5. There’s a hidden cost to family caregivers. It’s easy to say, "My family will take care of me." But a spouse may not be physically able to provide all the care that’s needed. And children have their own family and career obligations. The fact is family caregivers frequently suffer from stress and illness themselves. Not to mention lost wages if they have to give up a job or reduce work hours.
6. The best time to start planning is now. How will you pay for the care you need? Where will you live? Who will take care of you? These are questions people need to ask themselves now while they’re young and in good health. The need for LTC services can arise at any time. Having a plan in place when that day comes can help alleviate the emotional strain many families face. It also can help ensure your clients get to make the important decisions about the care they receive and the setting they prefer.
7. The cost of waiting can be high. The ability to obtain an LTCi policy is based on age and good health. So it’s important for people to understand that if something happens to cause a change in their health status, they may not be able to purchase LTCi at any price.
8. Some coverage is better than none. Many people who think they can’t afford an LTCi policy neglect to consider what would happen if they didn’t have one. Without a policy to help pay the bills for LTC services, they may have to liquidate assets, sell stocks, dip into savings or retirement accounts or sell property to come up with the cash they need. Even a modest LTCi policy offers some protection for their important assets.

Read More @: http://www.mutualofomaha.com/yourchoice/tips-tools-training/article-eight-things-people-should-know.php

Manage your Medical Bills

MANAGING YOUR MEDICAL BILLS

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*Repost* Brought to you by Cigna: http://www.cigna.com/healthwellness/hw/medical-topics/managing-your-medical-bills-abo3249

Topic Overview

Medical bills. They can be confusing and stressful. But with some basic know-how and organization, you can manage them—and avoid overpaying for your health care.

After you receive a health care service, you get:

• A medical bill from your provider. If you have no health insurance, this is the amount that you pay. If you're insured, you will likely pay less than the provider has billed you for.
• An Explanation of Benefits (EOB) from your insurer. This insurance statement shows how much of the bill you will need to pay.

This may sound simple. But when you get a bill, then an insurance statement, then a revised bill based on the statement or a payment you've already made, things can get confusing.

Organize

Take these simple steps to keep your medical bills in order. You can organize paper bills and statements, or electronic versions on a computer.

• Keep a calendar of your medical appointments. Jot down each appointment, including the provider and the care you've received. Also record the dates you've paid for prescription medicine.
• Organize your medical bills by date of service. If you have bills for more than one family member, keep a separate file for each.
• Pair medical bills with insurance statements. Sometimes an insurance statement will be about more than one medical bill. Keep those papers together. If you can, make a copy of the statement and match it with each separate bill it mentions. Include any payment receipts and updated statements about those bills.
• Create a list or a spreadsheet—whatever works for you. Across the top, label columns that best fit your health insurance. Include these types of headings:
  • Date, type of service, and provider
  • Billed amount
  • Allowable amount (see your insurance statement)
  • Amount insurance pays (see your insurance statement)
  • Amount I pay (see your insurance statement)
  • My payment/date paid
  • Amount I still owe
  • Amount I've paid toward my deductible (see your insurance statements or website)
  • Notes

Update your list or spreadsheet with each bill and insurance statement you receive and with each payment you make.

Don't be surprised if you get several bills for the same care. For example, for a surgery in a hospital, you might get bills from the surgeon, the anesthesiologist, and the hospital. Or for an X-ray, you'll get bills from the imaging facility and the radiologist who reads the image.

Compare your medical bill and insurance statement

Read carefully through your medical bill and insurance statement. Make sure that:

• The date, provider, and type of medical care are correct on both.
• You understand how much of the bill you need to pay. This is the amount that your insurer says you owe.

If you have questions about any part of a bill, call your provider's billing office. And for questions about what's on your insurance statement, call your insurer.

Fix errors

Billing mistakes can happen. Before you pay anything, be sure to read your billing paperwork carefully. Look at your health insurance policy.

• If you think you have found an error, call your provider's billing office or your insurer. Ask to review the statement on the phone.
• If your insurer won't cover a service that your policy says should be covered, file an appeal. Ask your insurer about the appeal process. For information about health insurance appeals, see the U.S. government website at www.healthcare.gov/using-insurance/managing/appealing-denials/index.html.

If you have payment problems

Not paying a medical bill can ruin your credit rating. Talk to the provider's medical billing office. This is one key to keeping your account from going to a collections agency.

• If you realize you've missed a due date for a bill, call the billing office right away. Pay on the phone if you can.
• If you can't pay a bill in full, ask to arrange a payment plan. Many providers are happy to do this, as long as you stay in touch and agree to make small, regular payments.

Current as of: November 20, 2015

Author: Healthwise Staff

Medical Review: Adam Husney, MD - Family Medicine & Kathleen Romito, MD - Family Medicine

This information does not replace the advice of a doctor. Healthwise, Incorporated, disclaims any warranty or liability for your use of this information. Your use of this information means that you agree to the Terms of Use . Learn how we develop our content .

This information is for educational purposes only and is unrelated to health plan benefits or coverage. Services addressed may not be covered under your health plan. If you have questions about your coverage, please refer to your benefit plan document or call the number on the back of your health plan membership ID card.

To learn more about Healthwise, visit Healthwise.org .

© 1995-2016 Healthwise, Incorporated. Healthwise, Healthwise for every health decision, and the Healthwise logo are trademarks of Healthwise, Incorporated.

Apply for Social Security

1. WORK & JOBS

Social Security

How to Apply for Social Security

Here's how to make sure you're maximizing your benefits

by AARP, October 2016|Comments: 4

If you know what to expect, applying for Social Security can be a smooth experience. — Istock

Applying for Social Security benefits is a big step, but it can be a smooth one if you know what to expect and have the right information at your fingertips.

Depending on the benefit you want, you may have the option of applying in person, by phone or online.

• Applying in person. This can be easy but it might take time. Tip: Call 800-772-1213 to make an appointment at the Social Security Administration (SSA) office nearest you (and call when phone lines are least busy — typically later in the day, later in the week and later in the month). You can find the nearest office by going online to ssa.gov. Click on Search, type in "find an office," and when the office locator pops up, enter your zip code.

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• Applying by phone. You can call the SSA toll-free at 800-772-1213 (TTY 800-325-0778), Monday through Friday, 7 a.m. ET to 7 p.m. ET. If you call outside those hours, you can still get some information about benefits, eligibility and online services.
• Applying online. You can apply online for some, but not all, Social Security benefits. In some cases, you may begin your application process online but will complete it in person or over the phone. Go to ssa.gov/applyonline to get started. The online application system is available Monday through Friday, 5 a.m. ET to 1 a.m. ET; Saturday, 5 a.m ET. to 11 p.m. ET; and Sunday, 8 a.m. ET to 11:30 p.m ET. On federal holidays, the system is available on the usual hours for that day of the week.

See also: How to Start the Social Security Benefits Flowing

Here are some basic guidelines on applying for widely sought benefits.

• Retirement benefits. You'll need to gather information about your recent earnings, marital history, military background, whether you qualify for a federal pension, and possible eligibility of any family members for Social Security benefits based on your own work record.

Required materials include your Social Security number; birth certificate (original or certified copy) or a religious record of your birth, such as a baptismal certificate before you were age 5; Form W-2 earnings statements from each of your employers or your tax return from the prior year if self-employed; military discharge papers; and proof of U.S. citizenship or lawful alien status.

Where to file. File in person, by phone or online.

• Survivor benefits. Get hold of the Social Security number of the deceased, your own Social Security number and those of any dependent children, your birth certificate or acceptable religious record, Form W-2 earnings statement or tax return if self-employed, death certificate of the deceased, and your marriage certificate or divorce papers.

Where to file. File in person or by phone (as early as the month the covered worker or retiree dies).

• Disability benefits. You may file for disability benefits as soon as you become disabled (and be aware that it can take a while to make your case). Dependent family members may file for auxiliary benefits based on the record of a disabled worker.You generally will need the following information and documents: your Social Security number and the Social Security numbers of your spouse and minor children, birth certificate or an acceptable religious record, contact information for your medical providers, dates of your health care appointments related to your condition, your prescription information, medical records related to this condition, a summary of your work history, your most recent Form W-2 earnings statements or tax return if self-employed, military discharge papers, and information on other disability claims filed with insurance or workers' compensation.

Where to file. File in person, by phone or online.

• Supplemental Security Income. File for these benefits as soon as you need them. Requirements may vary depending on the specific SSI benefit. You may be asked for your Social Security number, your birth certificate or religious record of your birth or other proof of age, documentation on where you live (such as a lease or utility bill with your name on it), financial records including payroll slips and bank statements, details of assets you own (such as property and vehicles), and proof of citizenship or legal residency, possibly including documents from the Department of Homeland Security.
Where to file. File in person or by phone.
For more details on applying for Social Security benefits, go to ssa.gov/forms/apply-for-benefits.html.

Who is Senior Benefit Services?

by: Amanda Westbrook, Marketing Manager | 9/29/16 | Senior Benefit Services, Blog, Life & Health Insurance  | www.sbsteam.net | 800.627.2768

"We are often asked as a company: "What makes you different?" Beyond many things we can list is the underlying fact that we DON'T work for one insurance company - we work for YOU." -David McNerney, Company President

Who is Senior Benefit Services?

Founded in 1975, Senior Benefit Services (formerly known as Barnes Insurance Group) has grown to become one of the largest senior benefit organizations in the nation. We're an Insurance Brokerage that specializes in the Life & Health Industry with a majority of our focus on the Senior Market and people aging onto Medicare (ages 65+). However, with our large portfolio of products readily available, we can also assist anyone in the family with their insurance needs. Our portfolio includes: Medicare Products, Life Insurance, Cancer Coverage, Long Term Care, Dental/Vision/Hearing, Investments & Annuities, and MORE.

What do we do?

We stated that we are an insurance brokerage - but what does that mean? It means that out of all of those top-rated companies that you are familiar with, and may even be insured with, that we represent over 50 of them! Yes, you read that correctly. When we sit down with our clients, we are able to lay out a wide range of over 50 companies with their corresponding portfolio of products, to help figure out which one works BEST for that persons' unique and individual needs. Nobody is the same when it comes to what type of coverage they require - even husband and wife differing at times - so it's very important that we do the research to a have full, comprehensive knowledge of what's out there. 

What else makes us unique? For starters, the average age of one of our independent agents is 25. Some may think that's "too young" or makes them "less knowledgeable." But think about these few things:  1. The insurance market, as I'm sure you're aware, is a constantly changing market place. Therefore, no matter if you've been in the industry for 2 years or 20 years, you can never stop learning or "know enough." 2. Adding on to that - as a brokerage we're constantly required to stay informed on trends and new products, as well as participate in continuing education on a regular basis. We're schooled, trained, and experienced to provide the best services nation-wide. 3. We're here to work with you FOR LIFE. Being the younger demographic that we are, we're able to grow with you, keep you updated each year, and always be the one you can trust when it comes to your decision making and planning. In other words, we're never going anywhere! Some final thoughts: Our services are truly one of a kind. Yes we sell insurance, but that's not our priority. There are over 40 Million seniors in the marketplace and an shockingly low average of around 1,000 agents in each state.  We sit down with too many people that have been taken advantage of, haven't seen their agent for years, or have simply been lost alone in the sea of all this information. We offer our services at no cost to you, so let us come sit down with you and start planning.

We're just one phone call away: 800-627-2768

Visit us Online at: www.sbsteam.net

More on Life Insurance Awareness Month

Life Insurance Awareness Month encourages Missourians to evaluate their life insurance coverage needs

Jefferson City, Mo – 
September is Life Insurance Awareness Month, which creates an opportunity for all of us to consider the impact life insurance has in guaranteeing the financial security of the ones we love.

“A life insurance policy is not about us; it is about protecting those we care about most,” said Missouri Department of Insurance Director John M. Huff.  “This can be a difficult subject to discuss, but we hope Missourians will set aside some time in September to evaluate  their life insurance coverage needs. 

One in three Americans believed the loss of their household’s primary wage earner would negatively impact their family in as little as one month.  Life insurance coverage can help alleviate the burden of funeral expenses, mortgage balances, and even provide money for college tuition. 
There are currently 480 life insurers licensed in Missouri. To help consumers in their search for life insurance, the Missouri Department of Insurance’s website features tools to help users research insurance agents and insurance companies. The website also provides answers to several of its consumers’ most frequently asked questions and features a Life Policy Locator Service, which was designed to help consumers find the life insurance policies and annuity contracts of their deceased loved ones.  

“These resources provide Missourians with the information they need to find a policy that fits their needs and the needs of their families,” said Huff.

For help understanding life insurance policies, finding an insurance agent or company, or using the Life Policy Locator Service, consumers can call the department’s Insurance Consumer Hotline at 1-800-726-7390 or go to the department’s website at www.insurance.mo.gov.

About the Missouri Department of Insurance, Financial Institutions & Professional Registration
The Missouri Department of Insurance, Financial Institutions and Professional Registration (DIFP) is responsible for consumer protection through the regulation of financial industries and professionals. The department's seven divisions work to enforce state regulations both efficiently and effectively while encouraging a competitive environment for industries and professions to ensure consumers have access to quality products.  

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Social Security - Surprising Facts

10 Surprising Facts About Social Security

Check out these little-known facts about one of America's best-loved programs

*repost* by Eileen Ambrose, AARP, September 2016|Comments: 9

read more: 

http://www.aarp.org/work/social-security/info-2016/10-surprising-facts-about-social-security.html?cmp=SNO-ICM-FB-SS-ADV&socialid=594650732

1. Kids get benefits, too.

Your unmarried children under age 18 — or 19 if still in high school — can receive benefits based on your work record if you're collecting Social Security retirement or disability benefits. Grandchildren also are eligible for benefits on a grandparent's record if they are dependents and receive no financial support from a parent.

2. In some cases, so do parents.

Moms and dads who rely on an adult child for at least half of their financial support can receive survivor benefits if that child dies.

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3. You've got time to fix errors.

Mistakes in your earnings record could lead to reduced future benefits. Typically, you have three years, three months and 15 days after the year in which you earned the wages to fix mistakes. Social Security makes exceptions if, say, you have documentation of earnings or the error is obvious.

4. Chances of owing taxes are increasing.

Up to 85 percent of your benefits could be taxed, depending on your income. Because these income limits haven't changed for decades despite rising wages, the chances you'll owe taxes on benefits also have increased. Less than 10 percent of beneficiaries paid federal income tax on their benefits in 1984, the first year benefits were taxed. Now about 40 percent do, and, under current law, that's expected to climb to more than half in three decades.

See also: How to Start the Social Security Benefits Flowing

5. You can change your mind.

Regret taking early — and reduced — benefits at 62? No problem. You have 12 months after starting benefits to withdraw your application — provided you repay all the money received so far. Miss the deadline? Don't worry, you get another chance for a do-over. Continue receiving benefits until your full retirement age, then suspend benefits without having to repay those you already received. Benefits will grow 8 percent annually until age 70, when you can restart benefits to get the maximum payout.

6. Most creditors can't touch.

Your benefits are protected from private creditors. But Uncle Sam can garnish monthly benefits to repay debts such as back alimony, child support, restitution, federal taxes and federal student loans. Be aware, if your Social Security benefits are deposited in an account with other money, the bank must protect two months' worth of benefits from creditors. The bank can freeze the rest of the money, leaving it up to a court to decide whether creditors get the cash.

7. Newlyweds may not qualify.

You generally must be married for at least nine months to qualify for survivor benefits if your spouse dies. Among the exceptions: The spouse died in an accident or in the line of duty while in a uniformed service.

8. You can get a new number.

Under very limited circumstances — if, say, you're a victim of domestic violence or identity theft — you may be able to get a new Social Security number.

9. Your ID is unique to you.

Once a Social Security number is used, it's never assigned again — even if the original owner died. Social Security, which has issued more than 453 million so far, says it has enough numbers to last several more generations without changes to the system

10. Forwarding services have stopped.

For decades, Social Security was the Pony Express for missing persons. The agency would forward letters to people who couldn't be located. Letters could be from relatives notifying the missing person about a death in the family or news of unclaimed property. The service was free if the cause was humanitarian, but cost $35 if it was notifying a person of unclaimed property. Social Security stopped the service in May 2014, though, because of so many locator resources now available for free online.

Eileen Ambrose is a senior editor and writer for the Money Team. She previously was a personal finance columnist with the Baltimore Sun.