Wrongful Enrollment, Drug Price Legislation and Softbank

Wrongful Enrollment, Drug Price Legislation and Softbank

Wrongful Enrollment, Drug Price Legislation and Softbank 

DON’T FORGET THIS, spaces are limited: Medicare ABCs, Virtual Event, October 5, 1PM ET
Here’s the link: https://maximizeyourmedicare.com/ask-jae/medicare-abcs-virtual-info-only-session/ 

In this podcast:
  • What can happen when enrollment goes wrong (an agent enrolled someone wrongfully #%#%R!!)
  • The new drug price regulation now has some real teeth (now it’s a big deal)
  • Softbank, what happened, and why it matters to you. Here’s a simple description of what happened: https://www.nytimes.com/2020/09/08/business/dealbook/softbank-stock-market-options.html
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Individual Health Insurance and Medicare in 2021: My Preview

Individual Health Insurance and Medicare in 2021: My Preview

Surprise, I actually like this video!

DONT’ FORGET THIS, spaces are limited: Medicare ABCs, Virtual Event, October 5, 1PM ET Here’s the link: https://maximizeyourmedicare.com/ask-jae/medicare-abcs-virtual-info-only-session/

In this video:

  1. NY Times reports that people are receiving huge medical bills despite the President’s promise that uninsured people will not be charged.
  2. Hurricane Laura brings a Special Enrollment Period under Medicare
  3. Individual Health Insurance will be better in 2021. 4. Medicare will be even more competitive in 2021.

Biden Proposes Lowering Medicare Eligibility Age and See Me After Class

In This Episode:

1. Presidential candidate Joe Biden proposes lower Medicare eligibility from 65 to 60. That means different things to different group: existing Medicare beneficiaries, those between 60-65, and those who want to plan ahead. The age at which Medicare planning (part of financial planning) would become more complicated, and sooner than prior beliefs.

2. See Me After Class. Barron’s Article “Older Investors Are Seen as Patient. In Market Downturns, They’re Anything But.” can leave people with the entirely wrong message.

Medicare & Dialysis; Life Insurance Ads: Important Stuff Isn’t Included

Don’t Forget to Register for Medicare ABCs, a Virtual Info-Only Event! https://bit.ly/2CG6OQN
In This Episode:
  • Dialysis and Medicare: ESRD patients will be able to freely enroll in Medicare Advantage in 2021
  • Life Insurance Ads: The important, value-added information, isn’t included in the ads (grrr)
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Medicare ABCs: Register for the Virtual Online Info-Session https://bit.ly/2CG6OQN
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Get your free Medicare consult: https://wp.me/P5AUnb-Vd
Official website for the book: www.maximizeyourmedicare.com
Feedback, questions: jae@maximizeyourmedicare.com

COVID-19 and Medical Identity Fraud

COVID-19 and Medical Identity Fraud

COVID-19 is affecting the Medicare population, with people greater than 60 years old representing a significant high-risk category. With the public health concern associated with COVID-19, Medicare beneficiaries have been specifically targeted with offers of COVID-related tests or supplies.

While your Medicare card no longer displays your Social Security number, there are other fraud schemes that can still use your medical identity. Medical identity theft can result in unlawful claims, treatment, prescriptions or medical devices, under your name. It can be very time-consuming and costly to resolve medical identity theft: the protections against credit-card charges are limited to $50, there is no such limit under fraudulent charges that result from medical identity theft.

The bottom line is that Medicare will not place an unsolicited call to you. That means:

  • Beneficiaries should be cautious of unsolicited requests for their Medicare or Medicaid numbers.
  • Unsolicited offers of COVID-19 tests or supplies should be treated with suspicion. While your Medicare card no longer displays your Social Security number, there are other fraud schemes that can still use your medical identity.
  • A physician or other trusted healthcare provider should assess your condition and approve any requests for COVID-19 testing. Medicare will cover COVID-19 testing, but only those accompanied by a healthcare provider’s order. If Medicare or Medicaid denies the claim for an unapproved test, the beneficiary could be responsible for the cost.
  • Do not give your personal or financial information to anyone claiming to offer HHS grants related to COVID-19.
  • Legitimate contact tracers will never ask for your Medicare number or financial information.

During this extraordinary public health situation, it can be tempting to accept offers to help, but you should use your common sense and remember that unsolicited requests for personal, private information should be handled with great caution.

COVID-19, Volatility & Insurance Pricing; And then, I Curse (first time ever)

COVID-19, Volatility & Insurance Pricing; And then, I Curse (first time ever)

It’s An Early Release
In this episode:
  • ESRD Patients Will Welcome 2021 Because Medicare Advantage Will Be Available
  • Deep dive into financial options, insurance, and the effect that COVID-19 will have. 
  • I finish with a rant against the way that financial products are explained to people by “experts”
Please subscribe and rate (5-star please) on Apple Podcasts, Spotify, wherever you listen to podcasts!
 
Medicare ABCs: Register for the Virtual Online Info-Session https://bit.ly/2CG6OQN
Buy Maximize Your Medicare on Amazon: https://amzn.to/2HsnMBv
Get your free Medicare consult: https://wp.me/P5AUnb-Vd
Official website for the book: www.maximizeyourmedicare.com
Feedback, questions: jae@maximizeyourmedicare.com

Register NOW for Medicare ABCs, Virtual Event

Register NOW for Medicare ABCs, Virtual Event

Spaces Limited: October 5, 1PM ET

I don’t think there will be more than one of these in the public this year. Once the registration limit has been met, I will have no power to increase it.
I don’t think that my schedule will allow further sessions. Here is a sample of my speaking schedule heading into autumn (subject to change, I have ongoing discussions with certain organizations).

If you cannot see it on this email, here’s the link: https://maximizeyourmedicare.com/ask-jae/medicare-abcs-virtual-info-only-session/

Big Deal, Little Deal, No Deal

Big Deal, Little Deal, No Deal

Little Deal: Trump Signs Executive Orders On Drug Prices
This affects prescriptions covered by Part B, not Part D. So while this is something, the scope of this is limited. There are other complicated clauses, but there are conditions set, that are unlikely to be met, so therefore meaningless. (link)

Little Deal (for now): Pre-authorizations Begin for Certain Medicare Part B Services
This doesn’t sound great. There is a new process for a limited (for now) list of outpatient procedures. This is a limited list, it remains to be seen if it expands.
Medicare Advantage policyholders can face this now, for a much wider list of procedures. For Medigap, this would be new. This can easily become a very Big Deal.
The complete list of procedures that require Pre-Authorization is here. (link)

Big Deal: Medicare Advantage Will Be Available for End-Stage Renal Disease Patients (!)
This is a big deal. In the past, ESRD patients could not enroll in Medicare Advantage (there are exceptions for those who had grandfathered plans). That changes in 2021.

This will:

  • result in a HUGE decline in out of pocket expenses for ESRD patients, and especially for those pre-65 Medicare beneficiaries, who qualify for Medicare due to SSDI.
  • result in pressure at Medicare Advantage carriers, who are not going to be compensated by the full expected cost of new ESRD patients.

Number of those in the US: 500,000. (link)