Medicare Annual Enrollment Period (AEP) 2023 is underway. If you have questions about your current plan or you want to learn about a different plan, now is the time. We represent several different carriers and would be glad to help you find a plan to best meet your needs for 2024. If you would like to meet one on one, in person or virtually, please call 317-426-0609 to schedule an appointment.
Retirement is a major life event and it’s important for seniors to be prepared for it. There are several key steps seniors should take to ensure a smooth and comfortable retirement. Here are seven of the most important ones:
1. Create a budget: Before retirement, it’s essential to have a clear understanding of your monthly expenses and income. This will help you create a budget that works for you and ensure that you have enough money to cover all of your essential expenses in retirement.
2. Save aggressively: It’s never too early or too late to start saving for retirement. The more you save, the more you’ll have to live on in retirement. Consider increasing your contributions to your 401(k) or IRA, or starting a new savings account specifically for retirement.
3. Pay off debt: Debt can be a burden during retirement, so it’s best to pay it off as soon as possible. This includes mortgages, credit card debt, and other loans. The less debt you have, the more money you’ll have to live on in retirement.
4. Plan for healthcare costs: Healthcare costs can be a major expense in retirement, so it’s important to plan for them. Consider enrolling in Medicare or a supplemental insurance plan to help cover the costs. You may also want to consider a long-term care insurance policy.
5. Consider downsizing: Downsizing can be a great way to free up some extra cash in retirement. Consider selling your current home and moving to a smaller, more affordable property. This can also reduce your monthly expenses, including utilities, property taxes, and maintenance costs.
6. Stay active and engaged: Retirement is a great time to try new things, travel, and stay active. Consider taking up a new hobby, volunteering, or joining a club to stay active and engaged. Staying physically and mentally active can help you enjoy a longer, healthier, and happier retirement.
7. Seek financial advice: Finally, seek financial advice from a professional. They can help you create a comprehensive retirement plan and ensure that you’re on track to meet your retirement goals. A financial advisor can also help you make informed decisions about investments, taxes, and other financial matters.
In conclusion, retirement is a major life event that requires careful planning and preparation. By taking the seven steps outlined above, seniors can ensure a smooth and comfortable retirement. Don’t wait until it’s too late – start preparing for retirement today!
The Annual Election period is just a month away and you are probably already starting to get lots of information in the mail as well as getting lots of phone calls and sales solicitations. It can be overwhelming! So let’s break down some of the most frequently asked Medicare Annual Election Period questions as we move into this important 2022 enrollment period.
Q. When can I change my plan?
A. You are allowed to change your stand alone Medicare Part D drug plan or Medicare Advantage Plan between Oct. 15th and Dec. 7th. Any plan changes made during this period will go into effect on January 1, 2022.
Q. Do I need to re-enroll if I want to keep my coverage?
A. No! If you take no action you will remain enrolled in the same plan that you are currently enrolled for 2022.
Q. How do I know if I should change my plan?
A. Look for your Annual Notice of Change document in the mail this month from your insurance company. This document will outline any changes that are being made to your plan for 2022. For example: changes in premium, co-pays, covered drugs, etc.
Q. Is this is time to change my Medicare Supplement Plan?
A. This Annual Election Period does NOT apply to your Medicare Supplement Plan (Plan G, Plan N, Plan F, etc.). Medicare Supplement (Medigap) plans can be changed year-round and will typically be subject to medical underwriting. We recommend waiting to change your plan until around your policy anniversary date or when your company sends you a rate increase notice.
Q. Is Medicare going to raise my premiums or deductibles for 2022?
A. Medicare typically raises the Part B premium and deductible in January and they usually release that information in November.
AEP 2020 is quickly coming to an end. You only have one week left to make your to select the Medicare coverage you will have for 2021. It’s not to late but you only have until December 7th to make your selection. If you are still unsure which Medicare plan to choose during AEP 2020 contact us right way. As an Independent Agency we offer all of the major Medicare plans available in Indiana. Don’t let AEP 2020 pass without making sure you have the right plan to meet your Medicare coverage needs. Call or email today. 317-426-0609 info@IndyInsuranceSolutions.com
There is only one month left to select your Medicare plan during AEP 2020 (Annual Election Period). You will want to make your decision regarding your Medicare selection for the coming year before December 7th. If you are still unsure which plan is the best fit for you contact us right away. As an independent insurance agency we offer all of the major Medicare plans that are available. We will be glad to go over the options and help you select the best plan to meet your needs for the coming year. Call us at 317-426-0609 or email us today.
AEP 2020 (Annual Enrollment Period) is less than a week away. AEP begins on October 15th and extends through December 7th. During this period you should review your current Medicare Plan to ensure it will meet your needs for the coming year. Want to learn more? Visit our Medicare Basics page: https://indyinsurancesolutions.com/medicare/
If you still aren’t sure, please reach out to us right away. Here at Indy Insurance Solutions, we’re available to answer all of your questions and help make sure you are on the correct plan to meet your needs. As an independent agency, we offer plans from all of the major Medicare insurance companies that are available in Indiana.
Annual Enrollment for 2020 is less than a month away. To prepare you should review your Annual Notice of Change (ANOC) which you should be receiving shortly. This ANOC will detail any changes to your current Medicare Advantage plan which will take effect on January 1st 2021. We aren’t anticipating any significant changes this year but it is always a good idea to review the notice for any changes that don’t suit your specific needs.
As an independent agency we have several insurance companies and plans available and we’d be happy to help you find the plan that meets your specific needs. Give us a call 317-426-0609 or email us info@indyinsurancesolutions.com
It never ceases to surprise and disappoint me to find a senior citizen who has enrolled in Medicare parts A & B only. Medicare parts A & B require the recipient to pay 20% of most covered medical charges with no annual maximum or limit. A senior that enrolls in Medicare parts A & B is left with unlimited exposure to medical expenses each year.
I always ask if the senior has considered a plan that would cover some of their medical expenses and the answer almost always comes ‘Yes, I couldn’t afford it.’ Typically they had taken a look at only Medicare Supplement (Medigap) plans. These plans come with the greatest amount of coverage and the largest monthly premium. However, they aren’t the only option. Another choice would be Medicare Advantage plans. These range in premium starting at $0 and moving up from there. Since all Medicare Advantage plans are regulated by Centers for Medicare Services (CMS) seniors don’t sacrifice any of their Medicare benefits when they enroll.
To learn more about Medicare Advantage plans visit us and watch a brief video explanation or contact us at info@indyinsurancesolutions.
Medicare Annual Enrollment (AEP) is just around the corner. October 15th – December 7th is the AEP for 2021. You should be receiving your Annual Notice of Change (ANOC) letter from your Medicare provider during the next few weeks. Please be sure to read this letter! 90% will be happy with their plan and its minimal changes. If you are not happy with the changes let’s talk about it. As an independent agency we offer a wide range of insurance carriers and plans to meet your needs. Reach out with your AEP questions and we will be happy to assist you.
What’s the difference between Medicare and Medicaid? If you’re not sure, we can help.
Medicare provides health benefits for people over age 65, as well as people younger than 65 who qualify due to a disability. Medicare is a federal program. Medicaid, on the other hand, is managed at the state level. Medicaid provides health benefits for people with low income, but the rules to qualify change from state to state.
You can have both Medicare and Medicaid at the same time.
Some people have both Medicare and Medicaid. If so, they could be “dual eligible.” That’s where dual special needs plans — or “dual” plans — come in. Dual plans combine the benefits of both Medicare and Medicaid into one simple health plan. If you have Medicare and Medicaid, chances are you could qualify for a dual plan.
Dual plans offer extra benefits at no extra cost.
Dual plans go beyond either Medicaid or Original Medicare alone. You’ll still keep the Medicaid benefits you get today. And better yet, with a dual plan, you could get many extra benefits and features than Original Medicare at no extra cost. These extra benefits may include:
As an added bonus, people who are dual eligible can usually enroll for no monthly premium. That makes a dual plan a low-cost choice too.
You can sign up at any time.
You don’t have to wait until the Medicare Open Enrollment Period. People who are eligible for a dual plan can enroll or switch to a new plan at any time during the year.
Need more information? We can help.
We’d be happy to answer your questions, and help you find out if a dual plan may be right for you or for someone you care about.
Call us at 317-426-0609 or email us: info@indyinsurancesolutions.com
