By Trish Pearson
Insuring Your Future
As winter subsides (we hope) and spring emerges, we move into the next insurance cycle. The following is a summary of helpful hints, suggestions and new information that is useful when navigating insurance policy and coverage issues.
– Medicare beneficiaries are receiving random calls telling them they are not in the correct plan or if they are turning 65, they need to act immediately or they won’t have insurance. First, it is against Medicare marketing regulations to make calls unless the person gives permission. These are agents from Anywhere USA trying to enroll people in one of their plans. They are not agents with whom the client will have a lasting relationship. If you’re not sure about current coverage, check back with the agent who originally helped you. Do not give out any personal information over the phone.
– Turning 65? Be aware of the timeframe for signing up for Medicare A and B. There is a seven-month window for people to sign up for Medicare: three months before turning 65, the month turning 65 and three months after turning 65. Failure to enroll within this timeframe could result in a penalty unless you have other health insurance, such as from an employer. Waiting until the three months after turning 65 go by means that Medicare Part B may not be effective until the beginning of the next quarter. This is particularly problematic for those who lose coverage unexpectedly and need to enroll after their 65th birthday. Don’t file without asking for help, as it can be tricky. Contact an experience professional or call the local Social Security office.
– Did you receive a Medicare summary after receiving the COVID vaccine or booster, even if you were on a Medicare Advantage plan? While this is not the normal way that claims are handled, it appears that some clinics are submitting to Medicare for payment. Patients will not receive a bill, nor do they need to follow up with their insurance company.
– Good news: Connecticut has released new income limits for the Medicare Savings Program. As of 2022 the individual income limit to qualify for full assistance is $ 2,390, and for a married couple it is $3,220. People in this category will qualify for help with Part B premiums, copays, coinsurance and limits on prescription drug costs. Single individuals whose income is below $2,616 per month or married couples below $3,525 will now qualify for help with the Medicare Part B premium. If you are above these limits but in close range, consult the town outreach coordinator or an insurance agent to see if there may be some help available.
– Finally, here is a fast fact to take away: exercise is not only good for our bodies; it is good for the brain. A UC San Francisco study proves that an active body produces more proteins that enhance neuronal connections. In short, exercise is good for our bodies, bulks up our brains and may be vital to fending off dementia. So let’s get moving.
Trish Pearson is a licensed independent insurance agent and certified long term care specialist. Contact her at 203-640-5969 or email@example.com.