Medicare News & Updates

prescription drug, weekly pill container

What is the Medicare Donut Hole?

By Medicare

For older Americans, the Medicare program is one of the most successful in history, but this healthcare delivery system is not without its flaws. While Medicare has long helped senior citizens get coverage for routine doctor visits, specialty care, and hospital stays, until recently prescription drugs were not part of the mix. That all changed when Medicare Part D was introduced. As the name implies, Medicare Part D was designed to assist senior citizen beneficiaries with the high cost of prescription drugs, so they could stay healthier and improve their medication compliance. Even so, the Medicare Part D program is far from perfect, and one of the biggest obstacles to quality care is the so-called “donut hole.” The Medicare donut hole is actually a potentially costly coverage gap, a period of time during which Medicare beneficiaries can incur thousands of dollars in uncovered medication costs. We can help you choose…

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fitness center

What is SilverSneakers and Am I Eligible?

By Making the Most of your Medicare, Medicare

When you were young, staying healthy and active seemed like second nature. From biking to and from work to running around with your friends every weekend to chasing after the kids at the local park, it seemed like you were always on the move. But as you got older and your lifestyle changed and slowed down, staying active became a much bigger challenge. The good news is that you are not alone. Many seniors share these same challenges, finding it harder and harder to maintain the active and healthy lifestyle they once enjoyed. The bad news is that this lack of activity can have a negative impact on your health, leading to obesity, heart disease, and other chronic lifelong conditions. What is SilverSneakers? Gym memberships are nothing new; they often spike in January as New Year’s resolutions are made and new fitness enthusiasts work hard to keep their promises. But…

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Transitioning Insurance After Retirement

By Medicare

Retirement should be a time when you finally get to do the things you’ve always wanted to do with the people who mean the most to you. At Steinlage Insurance Agency, we don’t want worries about your healthcare coverage to keep you from enjoying this new chapter in life. That’s why we are dedicated to helping people transition their healthcare coverage after retirement. There are several options for maintaining healthcare insurance after retirement. If you retire before you are 65 years old—before you qualify for Medicare—you’ll need to bridge the gap so that you don’t go without coverage. Fortunately, there are several options, including COBRA, private insurance, your spouse’s insurance plan, and the public marketplace. If you are 65 or over, Medicare will cover a large portion of your medical expenses. However, there are a myriad of supplemental plans that you’ll need to navigate in order to make sure your…

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Helping Clients Understand Medicare, Steinlage Insurance Agency

Open Enrollment vs. Annual Enrollment: What Does it Mean?

By Medicare, Medicare Advantage

It may seem lately that it’s impossible to turn on the television or listen to the radio without hearing something about Medicare open enrollment and annual enrollment. The worst part is that the terminology can be confusing. “Fall enrollment period,” “annual election period,” “annual enrollment,” “Medicare Advantage enrollment period,” “AEP,” and “OEP” are just a few of the terms that get tossed in the mix. There are two types of enrollment periods for Medicare: annual enrollment and open enrollment. Though they are sometimes called by different names, it all boils down to these two timeframes and what you can and cannot do during each. So what do they mean for you? Medicare Annual Enrollment (AEP) Annual enrollment, often referred to as AEP, takes place in fall, October 15 through December 7. This is the time when you can make changes to your Medicare plan to make it work better for…

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