Maximize Your Medicare Newsletter February 9, 2015 Medicare ABCs: Ann Arbor MI, March 16 2015 What is Different I have given this presentation at a variety of places, always sponsored by another party (e.g. library, etc). At those locations, my comments must be muted to a degree. Of course, I am regulated, so I must follow certain rules, and they will be here, as well. However, there are additional comments that will be important when considering the options that Medicare beneficiaries face. It may seem overwhelming, but it can be clearly explained. Please Tell Someone I haven't commented on why you should share the book, these presentations, or my contact information. You may think that my request is purely selfish. We can debate that for hours on end. Nevertheless, there are important nuances involved. Healthcare cost-planning/Medicare information is different than other financial information. Let's say you know a house is underpriced, and you are interested. You know someone else who is also interested. Telling that person isn't a very good idea, because the additional person can create upward price pressure, and thus, removing the notion that the house would be undervalued.
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From a client: Dear Mr. Jae Oh, My husband and I are so thankful for your help. We were in need of a special insurance program and could not figure out how to meet the government’s December 7 deadline without finding ourselves locked into the same program we had last year. You phoned after I had searched the Internet for an answer, heard my distress, and created a course of action to solve our concern. This was amazing since you know you would not receive any financial reward for this kindness. We are grateful to you. Thank You! Sincerely, Robert and Phyllis Nulty Northville, MI
FREE ANDROID APP: You enter Date of Birth, and check some boxes. Depending on your answer, out comes a checklist of issues to consider. A perfect place to start for those new to Medicare.
Maximize Your Medicare Newsletter January 23, 2015
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Medicare ABCs, Ann Arbor MI, March 16 Medicare is very different. By having fewer unpaid bills systematically, the healthcare system can find the correct prices. Some (not all) of the price levels are the result of unpaid bills. Much of this can be reasonably avoided. There are further feedback effects, many of them academic, and may seem trivial, but the right information can save people money, eliminate unnecessary risks, thereby freeing the beneficiary to pursue other activities. It is financial fact: people don't spend money because they are worried about the medical costs. In many instances this worry is unfounded, or can be largely minimized. IF that person has the CORRECT information (hint).
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Wed, Feb 11, 9AM www.wsgw.com #ProcrastinationStation Two deadlines are coming up quick: A. Medicare Advantage Disenrollment Period (Feb 14) B. Individual Health Insurance Open Enrollment (Feb 15) You can listen online
SEND JAE YOUR PERSONAL QUESTIONS and REQUESTS Jae [at] maximizeyourmedicare [dot]com or CLICK THE ICON FREE ANDROID APP: You enter Date of Birth, and check some boxes. Depending on your answer, out comes a checklist of issues to consider. A perfect place to start for those new to Medicare.
Maximize Your Medicare Newsletter January 23, 2015
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People don’t know how Medicare works. People you know may not discuss it with you for personal and private reasons. This should NOT be mistaken as: “My friend doesn’t talk about it, so he/she get it.” Help them: share this.
Retirees: Supreme Court Can’t Won’t Help M&G Polymers USA, LLC v. Tackett is a case that was recently adjudicated by the US Supreme Court. Seems irrelevant, right? Well...not exactly. The bottom line is that M&G Polymers USA, LLC argued that lifetime healthcare benefits were NOT part of the overall retirement benefits plan under a collective bargaining agreement. Other courts conflicted on this case, so it was pushed up to the US Supreme Court, which ruled that this was a matter of the individual contract, and not something that was to be “implied” in the wording of the contract. Lessons A. Employers, if it isn’t exactly, explicitly stated, do and will exercise the right to eliminate retiree healthcare benefits. This, anecdotally, should be common knowledge: every community has faced this. B. The “fine print,” the “stuff” that you may presume is in proper working order, in your favor, may not be. Bottom Line: retirees will be required (and should) defend themselves. Crazy people write books about this type of thing. Employers have other priorities (like survival), above and beyond retiree healthcare benefits, whose cost is unknown, and who timeframe is lengthening as a result of longer life expectancy. The US Supreme Court simply confirmed that employers have the right to pursue their priorities.
SEND JAE YOUR PERSONAL QUESTIONS and REQUESTS Jae [at] maximizeyourmedicare [dot]com or CLICK THE ICON FREE ANDROID APP: You enter Date of Birth, and check some boxes. Depending on your answer, out comes a checklist of issues to consider. A perfect place to start for those new to Medicare. And...It’s FREE.
Maximize Your Medicare Newsletter January 23, 2015
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People don’t know how Medicare works. People you know may not discuss it with you for personal and private reasons. This should NOT be mistaken as: “My friend doesn’t talk about it, so he/she get it.” Help them: share this.
Wall of Shame: Captive Agents/Agencies Note: this section has extreme bias, which I acknowledge (you didn’t think I had no opinions, did you?) This Happens. Very successful employer is Medicare-eligible. He has been part of an employer-sponsored group plan for decades. Despite asking some pertinent questions over time, the group plan has continued in its existing form. But now...the premium for the employee is over $1000/month. A captive agent could defend himself in one of two ways. A. I didn’t understand Medicare B. You are actively working so you can delay Medicare enrollment. HUH? Neither of these two reasons works. If your advisor, agent, either doesn’t know Medicare, or doesn’t challenge the status quo, then your advisor belongs here, on the Wall of Shame. No one is blameless here, but let’s look at the motivations here. The agent/agency was a captive one, i.e. representing only one carrier. The market has changed greatly. Group plan carriers are competing, hard. The number of alternatives, especially for small employers, have increased dramatically, and the pricing is very competitive. Captive agents don’t have the motivation nor any way to help the employer, in this case. Further, the individual could have enrolled in Medicare. Regulations guard Medicare beneficiaries, aggressively. Medicare Advantage and Medigap follow VERY strict rules. There is no debate about coverage. You may not like the complications (understandable), but it is there, in black and white. You have recourse against Medicare Advantage carriers if there is a debate. Medigap is more obvious (what Medicare doesn’t cover, Medigap does).
SEND JAE YOUR PERSONAL QUESTIONS and REQUESTS Jae [at] maximizeyourmedicare [dot]com or CLICK THE ICON FREE ANDROID APP: You enter Date of Birth, and check some boxes. Depending on your answer, out comes a checklist of issues to consider. A perfect place to start for those new to Medicare.