© 2010 Deinlein and Company LLC. All rights reserved.
In the News
Medicare Advantage Costs on the Rise
Many of you will experience an increase in costs for your benefits in Medicare Advantage plans for next year. The number one question I get is why does this happens every year. For next year there are multiple reasons for changes to benefit levels, but here are 3 that are common to all of the plans.
1. In 2014 each company will be required to pay a "tax" to medicare based on the total number of Medicare Beneficiaries that it has enrolled. The estimated costs for all companies will be in the Trillions of $$$$. The only way to recoup these taxes is in the form of premiums and/or increased copayments from you.
2. Reduced reimbursement from Medicare. Insurance companies' reimbursement rates are now based on the Star Rating system. The higher they rate, they more they get paid. However, many would argue that the system is skewed against the Insurance Companies. Many of the ratings are based on them being able to get you to do certain Wellness Based criteria. If you get a physical, their rating goes up. If you don't, it goes down. If you take youre medicine correctly, it goes up. If not it goes down. So their performance is based on how successful they are at getting you to take care of yourself. As we all know, we do not always do what is in our body's best interest.
3. The Insurance Companies are paying an increasing amount for your prescription medications in the Coverage Gap. 3 years ago, they were not required to pay anything. Each year the percentage that they contribute increases to help offset your costs.
LIKE OUR PRODUCTS?
Give us a call at
(317) 372-0846
DID YOU KNOW?
A Medicare Beneficiary cannot be enrolled in an individual ACA Exchange Policy.
The vast majority of Medicare Advantage members do not reach their Maximum Out of Pocket Cost
Medicare Part D-Prescription Drug plans are gradually increasing the amount of coverage that you receive in the coverage gap (donut hole)
Affordable Care Act Exchanges
to Open Shortly
October 1 is the Magical Date!!
In just a few days the Federal Exchanges for the State of Indiana will be turned on. Policies effective January 1, 2014 will be available to be quoted for all Indiana Residents who are not Medicare Beneficiaries. With a program this large and complex, we should expect a few hiccups. Millions of Americans nationwide will be trying to get information and quote policies all at the same time. No one knows how many, but in reality, probably more than any computer server can handle at one time.
The good news is that you have until the end of March, 2014 to get a new policy if you need one. The first couple of weeks will be hectic to be sure, but expect things to become faster and easier as bugs are worked out. To help you, Deinlein and Company LLC, will have a Quoting Engine to allow you to play with quotes on your own. Not interested in going it alone!! Don't worry. Deinlein and Company will be here as always to help you.
Deinlein and Company LLC.
Your Needs: Your Insurance
