Medicare: What to expect, what you should know
Detroit Free Press, November 1st, 2009
QUESTION: What kinds of changes are we seeing in Medicare this fall in Michigan?ANSWER:
There are two primary changes. The first is there are fewer plans being
offered and secondly the prices of the plans being offered are
increasing.
Q: Without exception?
A: Almost across the board except for a handful of plans with little change.
Q: Why are prices going up?
A: The insurance companies say the prices are going up to reflect increased prices in the marketplace.
Q:
What do we know about the Medicare choices seniors in Michigan have
made in the past? What percentage is in Medicare Advantage plans and so
on?
A:
In the past, Michigan was pretty lucky because relatively three
quarters of the population were in some type of retiree plan sponsored
through their former employer. However, that trend is changing as many
of the employers are dropping, reducing or changing the structure of
their employee health benefits.
Q: So more people have to purchase their own Medicare plan?
A: Yes.
Q: Is there still a lot of confusion?
A:
Yes. There are some people new to this whole process because their
retiree benefits are changing. But each year there are changes in the
plans, too. Sometimes the plans changing have huge changes or they are
exiting the marketplace. I think there was a misconception in the
public that 'Once I get into a plan, I'm set, if not for life but at
least a few years.' There can be drastic changes.
Read more of this article.Supplemental Medicare Insurance: work with a pre-screened insurer
to find the right Medicare Advantage program for you and your medical
needs.About Reverse Mortgages: Learn all about reverse mortgages at NewRetirement.com
Professional Financial Advisers: Find out what a financial adviser can do for you at NewRetirement.com.