I have seen Medicare Part D and Medicare Advantage plans for 2021. My preview videos are posted on the YouTube Channel.
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/
- 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
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:
- NY Times reports that people are receiving huge medical bills despite the President’s promise that uninsured people will not be charged.
- Hurricane Laura brings a Special Enrollment Period under Medicare
- Individual Health Insurance will be better in 2021. 4. Medicare will be even more competitive in 2021.
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.
Personally, I have no idea whatsoever why someone would enter into government service. That is doubly true, given the social media attention to every uttered word or gesture, real or imagined. It’s much safer to opine with y’all.
Click on the image below and the book will open (voila!)
- 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)
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.
- 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”
I am a regular expert contributor to Bob’s subscription site. I am interviewed here, discussing the BENES Act, as it appears on thestreet.com (Booyah!)
Thanks to Bob Powell, as always. You can follow him on Twitter: (https://www.twitter.com/@RJPIII). You can check out his subscription site: https://www.thestreet.com/retirement-daily/
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/