Cell Phones Star Trek and Medicare

Mar 142012
 

A recent article in the New York Times entitled Monitoring Your Health with Mobile Devices by Peter Wayner describes how the future in medical treatment will most likely involve your cell phone.

For those who are not aware of just how smart a smart phone has become consider that many are now more powerful than entire computers were just a few years ago.  With the ability to now connect medical devices to them it seems those long ago days when doctors made house call will soon come again.  The Doctors will just be visiting through your cell phone.

So what does this mean to Medicare and hopefully Medicare supplemental insurance?  Better treatment at a lower cost.  The article states that these devices will help give people real command over many diseases, provide people much needed information, and enable them to make smarter decisions in real time.  If these devices help to lower medical cost then that translates into Medicare being able to provide better services to seniors.

As the Baby Boomers are just starting to hit the Medicare Age, Medicare will need every edge to provide for them.  Peter Wayner’s article states that Johnson & Johnson has also spoken publicly about developing similar devices. The ultimate goal would be to replicate the full-body diagnostic “tricorder” from the TV show “Star Trek”.  That goal is being encouraged by a $10 million prize put up by Qualcomm, the smartphone chip maker, through the X-Prize Foundation.

We don’t have “tricorders” yet, but we do have Medicare supplement insurance.  If you are turning 65 be sure to protect yourself from the gaps left in Medicare.  It would be a shame to have your bank account “beamed-up” by some heavy hitting medical bills.  When you turn 65 you have a six month open enrollment period during which the insurance companies have to sell you a plan.  So don’t miss it!

When you get your quotes through us we will find the lowest priced Medicare supplemental insurance in your area.  The money you save may very well cover the cost of your next smart phone!

Click here to read the article Monitoring Your Health with Mobile Devices

Medicare Supplement Quotes If you are shopping for Medicare supplemental insurance please click here. One of our agents will pull Medicare supplement quotes for you and email them to you.

Approaching 65? Make Sure You Register For Medicare

Feb 242012
 

Turning 65 MedicareApproaching 65?  Make sure you register for Medicare coverage even if you are planning to continue to work. You should contact Social Security about three months before your 65th birthday to sign up for Medicare.  When you delay you may end up paying a higher rate as a penalty for Part B for the rest of your life. If you have a company plan you will need to understand how it will interact with Medicare.

Fidelity, EBRI, and HealthView Services have estimates that range from $230,000 a couple to $369,000 a person will be needed to cover 17 to 20 years of retirement healthcare cost. These numbers do not even include the cost of long term care.  Does this seem high?  In 2010 insurance costs alone averaged around $3,300. When you add in deductibles, co-pays, over the counter drugs, glasses, and dental care, the out-of-pocket costs can easily exceed $5,000 a year. It can be much worse if you have health issues.

With our government so in debt the trend to shift more costs to the consumer is likely to continue. A little retirement planning can help protect you from some of the daunting expenses. Purchasing a Medicare supplement and Medicare Part D coverage is one way to do that.

When you turn 65 and first start receiving Medicare Part B coverage you have a six month window during which insurance companies have to sell you a Medicare supplement plan if you want it.  During this initial enrollment period you cannot be charged anymore for your Medicare supplement than anyone else regardless of any preexisting condition.  Once you are in a plan then it is guaranteed renewable as long as you pay your monthly bill.

Medicare Part D is a prescription drug plan.  The first step to finding a plan is to get your prescription information together and use the tool at Medicare.gov (medicare.gov/find-a-plan/questions/home.aspx) to find a plan that best matches your needs.  It is important to review your Medicare D coverage annually to see if a different company can provide lower cost coverage.

Health care is expensive and retirement can be too, but that doesn’t mean that turning 65 and retiring cannot be a great experience.  Understanding some of the potential cost and planning for them will make the experience even better.

Florida Medicare Supplement Quotes If you would like to see who has the best priced Medicare supplemental insurance in your area please click here. One of our agents will pull some Medicare supplement quotes for you and email them to you.

Changes to Medigap coming?

Aug 022011
 

There are many discussions on reducing government spending by targeting Medicare. Often these plans revolve around ways in making seniors pay more for their medical care so they will be less inclined to use the health benefits they have. Several plans have been proposed to force seniors to pay less for their Medicare supplement insurance (a.k.a. “Medigap”). Paying less may sound like a great idea but Continue reading »

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