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Medicare 101 The Map

Finishing Well / Hans Scheil
The Truth Network Radio
September 25, 2021 8:30 am

Medicare 101 The Map

Finishing Well / Hans Scheil

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September 25, 2021 8:30 am

Feeling lost when it comes to medicare? Be lost no longer as Finishing well presents, medicare 101 the map. It's a guide to show you the way.

Don’t forget to get your copy of “The Complete Cardinal Guide to Planning for and Living in Retirement” on Amazon or on CardinalGuide.com for free!

 

You can contact Hans and Cardinal by emailing hans@cardinalguide.com or calling 919-535-8261. Learn more at CardinalGuide.com.  Find us on YouTube: Cardinal Advisors.

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Not cuticle off the Russian nightmare know the devil's nightmare here from it's time to man up challenging men step into their true manhood. Your chosen Truth Network podcast is starting in just a few seconds. Enjoy it, share it, but most of all, thank you for listening to the truth. Podcast network. This is the Truth Network welcome to finishing well brought to you by Cardinal guy.com certified financial planner longs at Shiloh best-selling author and financial planner helping families finish well for over 40 years on finishing well will examine both biblical and practical knowledge to assist families in finishing well, including discussions on managing Medicare IRA long-term care life insurance and investments and taxes. Now let's get started with finishing well, finishing well is a general discussion and education of the issues facing retirees.com are no advisors. I'm sure I'll see if Pete insurance this show does not offer investment products or investment advice. I'm really excited about today's show is working. I refer to it as Medicare 101 the map. In other words important to know where you're going, you often need a map and when things are confusing. You know the more you kinda need that and so it interestingly and in Psalm 119 verse 19 there's this beautiful verse working. David the Psalmist said you know I'm a stranger on the earth.

Hide not your commandments from me and you love that may seem confusing, and in one of those things as you begin to think through Medicare and all the different moving parts.

Just picture King David as he was looking at the Scriptures right that their 613 of those commandments from the Jewish perspective.

At that point in time. Fortunately what Jesus did was add huge clarity to that map for King David, because here he was saying I'm lost. I need a map right I don't hide it from me and what Jesus did this was all this down to all of that is to commandments love the Lord your God with all your heart, with all your soul and all your strength and your neighbor as yourself and all the sudden you kinda take something that seemed beyond comprehension and boiled it down to some okay now I can navigate that as I begin to work on those two things and so were hoping today in our map through the Medicare for that we can kinda do that same thing right on yeah Medicare annual enrollment. Coming up and create even more friendly people are trying to do.

Clarity a bit unclear or confused about Medicare and all the TV commercials start start on October 1 and on October 15.

You can actually do one of these enrollment and you can do that all the way up till December 7. TV your mailboxes to the goal of flyers you could have your church and there have in a seminar you know humanity put on a seminar there educational seminar to specific meeting at the senior center minutes all over the place. Joe Namath is on TV. I see him all year long. That really ramped up on October 1 and 1613 commandments is actually Catalano I think. More than that in the Medicare certainly seems like that and that what we are going to do is working. Create a map to talk about this whole problem and talk about this.

What it means to you and really to do that people are in different places and Morgan have to end a sentence in a preposition is a where you at you to figure out where you are, where where, how are you receiving your Medicare right now so that is make this whole thing makeable sent you have little experience with this Medicare misinformation fusion Ronnie Siano is kind of funny.

I am most everywhere I go I hear these conversations about Medicare and when I try to chime in like I don't think you have that client right in fact I went. I was of the Bible study this weekend and this couple was going on and on. When I tried to chime in there like you don't know what you said will ease a radio show about it every week and I and I arrived I just sat there and marveled at how much you know people were just zealous about this misinformation that they had and I you know it's a difficult situation if you don't really know where you're at. Yeah so what I would yeah or you would not too difficult for you, go to my YouTube channel that you would just under Cardinal advisors a DVI or or you just go on our website Cardinal guy.com and just send me a message with your email or something or email on the Cardinal guy.com and tell me you'd like a copy of the Medicare video and I'll just send you a link on you to really be helpful for you to watch this thing when I got to hold or just lay out all test again looking at something visually it's it's helpful because you have to board but also the kind of get people where they are in one of the first questions seemed like always in my on regular Medicare MI and met Medicare advantage, especially when it comes to this whole idea of an annual enrollment. Right most people survey difficulty telling me the answer that question either or. So if you're on Medicare past 55 did sign up for. You are one of two places ureter on original Medicare part a and part B go to the doctor you shown your red white and blue card and then most likely you have a probably call plan G plan after plan and to go along with that. So that's one place you can be the other place is you're on Medicare part C Medicare advantage and what that is is you chose at some point to leave original Medicare and go and receive your Medicare from a private insurance company like Humana or like United healthcare ARP like at like Blue Cross Blue Shield and so you're not getting your health insurance directly from the government for Medicare you're getting it from a private insurance company and if you're in that situation, not only do you not have. You can't have a manager stop because it the two don't work together. You're in one place. The and that the start of the confusing people as commercial or you listen to people talking. They're in a different place narrator on original Medicare supplement, and you might be on advantage plan and you're listening to them for the trouble they had or whatever wisdom that they had put in their body were your own original Medicare supplement you got the benefits of that thereon. Medicare and they're telling you a bunch of rules or what to do that. That's a big point of confusion so we can figure out which situation you're in for you and we can do that individually will meet you, then this whole explanation of the home map and some tests for me. I know I am on regular Medicare. That's what I chose to do because I wanted my own doctors and will get into some of those details and glad chose that, but nonetheless since I'm on regular Medicare. And since I'm on a Medicare supplement. The annual enrollment fee program.

Excuse me annual enrollment program really has nothing to do with my regular Medicare but it does have to do with my drug point so now all your original Medicare part a and part B, you are and you have a supple which you are you haven't made people do have. You still have a little bit to do with annual enrollment. Because your part D plan is coming up for annual enrollment and you don't really have to do anything you could get your plan will automatically renew so you can just sleep right through the whole which you may want to do and I know what you're gonna do, but just somebody like you out there. You may want to have us take a look at your particular drug plan and see if it's working the best for you weather might be making a change and you have the opportunity to do that from October everybody on Medicare and then the change will take effect January 1 while you're doing comparing drug plans. You can also take a look at your Medicare supplement and see if the change in that to a different company might save you a bunch of money but you don't have to do that during this October 15 to December 7.

A lot of people think that they can't change their Medicare supplement. During this period, and that's not correct. We can change at any time a year Medicare supplement only the drug plan that has to be done during this period, finance is actually the case for me to the other side of the break is I've been actually kinda looking forward to the annual enrollment. Because I've been studying this thing and I think I can save some money and probably not hurt my my personal healthcare situation by switching to Americare advantage in saving some money, and so we got a whole lot coming up on this map of Medicare today and again that weird since we talked about Medicare.

It's all there in Hans's book the complete Cardinal guide to planning for and living in retirement, which is Artie mentioned Cardinal guy.com is where you can find out about that. And of course we want to recommend that video on Medicare. They just released their Cardinal advisors on YouTube so I will be right back a lot more on this Medicare. Hans and I would love to take our show on the road to your church, Sunday school, Christian or civic group. Here's a chance for you to advance the kingdom through financial resources and leveraging Hans expertise and qualified charitable contributions veterans aid and attendance IRA so security care and long-term care.

Just go to Cardinal guy.com and contact Tom to schedule a live recording of finishing well, your church, Sunday school civic contacts on Cardinal guy.that's Cardinal guide.com welcome that finishing well, a certified financial planner Hans Island today show.

We are talking Medicare 101. The map kind of itself and and so to drive into you know what's on the board of this video is is really kinda critical information. Hans right Medicare or part part a part B doctrine, outpatient part B pays 80% of your expenses that it has part C, which is just another way of receiving the benefits that you get under part a and part B so if you're on part C: Medicare advantage plan what is it with a private insurance companies that are no longer getting your insurance for your Medicare insurance directly on the government you're receiving it by your election from a private insurance company like Humana are United healthcare at work now Blue Cross somebody like that and you get all your benefits and you get the added benefit, then there's a part D and D is and if you're on a Medicare advantage. Part C plan.

Most of those include directly so left everybody. We were talking about.

We need to figure out you need to figure out where you're at, make adjustments in the sentence might grandmother be very upset with you where yeah so we discussed before the great where you're at your own original Medicare part a and part B, you have a separate Medicare supplement policy which I sold you about a year ago with Mutual of Omaha plan G and you pay a little over $100 month but you probably just got Ray, and so you have original Medicare part a and part B then you have supplement that you also purchase separate standalone part D plan deeper drugs, prescription drugs, which you pay about 15 to 20 bucks a month for that pace toward your prescription drug any part of the whole game that you possibly have difficulties that arrangement.

It is under the party drug plan because next Saturday radio show is going to be about the part D drug plans were to dig and specifically for your purposes where you're at RA part B original Medicare plus a supplement standalone part D drug annual enrollment period, which is coming up October 15 to December 7. You have the right to do a number of things based upon where you are number one you can change to a different drug plan, you so desire. And we have many people to call in writing and we can just take whatever plan have now look at their drugs and then look at everything else available, may change or you can do nothing in your everything we just use sailing in the next year. One option. The other option is you could make an election go and leave original Medicare part a and part B and to a lack on part C Medicare you can choose from a list of companies that I named earlier made even more and we can go through and look at your doctor look at the networks look at the drug plans that they tacked onto the end, I have a feeling that you said that you have the desired and if you make that change effective the end of the year.

The beginning of the new year you'll dump your Medicare supplement, you have to document you'll dump hundred 20 bucks a month or so and there is other advantages that are smaller but you know there's a dental plan six possibility of a payback of some depending on the plan. I look at so there's all kinds options that at least I'm going to explore, click, plan, most of the many of these Medicare advantage plans zero lot about the way they can do that is checked behind the scenes every month from the government to take Robbie out very quickly now. You changed to United healthcare night out. Get a paycheck every month to take you on and then they provide Medicare you with lower deductibles and lower copayments and you have an original Medicare.

They're doing it at zero premium arriving in some of actually having to get back to your party. So I don't want to get too focused on any of these extras because that doesn't know the details in wave met with Medicare advantage.the whole picture and what's best for you, but we figure out where yeah and where you can possibly go now.

The next place that many of you are probably Artie there is, Your Honor, Medicare advantage plan already, you have an opportunity to do several things.

October 15 to December 7, and during this annual enrollment. In one of those things that you could just change from the Medicare advantage plan you're on drug plan benefits you can change from that to you could go from United healthcare AARP to Humana, you could go from Humana that we can sound look at all of them look at the networks look at the extra benefit and then you could make an election change from this to that and that I want to hear thing it would take effect January 1 and so I think were people get confused. Is there listening to all these messages and some of them don't apply to them or what their desires are doing to get all hung up on, such as they think they can only change their Medicare supplement during the seven-year Medicare supplement felt have anything to do with this annual enrollment. October 15 and know whether you want to do all those things that really can't depending on your personal situation then what we work on doing.

I do that my video is pluses being on a Medicare management plan and leaving original Medicare and then there's negative and vice a versa. There's pluses being on original Medicare plus a supplement there's -1 of the negatives of pan- African that Microsoft we have many clients about the last 15 years and they have anything to do with Medicare management or supplement premium is now got to be 300 bucks a month or 270 a month and they say I'm ready to look at us with. Now this is the time you can do. I want to make this easy on people like if you would like our consulting or one of my representatives.

We just have 11. Cardinal and I'm one of the 11 but if you want to make it a little bit easier on us and moved to the front of the line you could do a couple of things.

One, you could go on Cardinal guy.com and you could just type the message of the messaging is who I am.

This is what my email address is my phone number is sitting on your phone numbers or email address and then if you want to go a little further, you could tell us all the drug prescription drugs and you could tell us the name of your doctors and then a little bit about what you got on your mind and or you could email that half the Cardinal guy.com and I sure I get you not get all my emails and then we will respond to you by email and then set up a time to talk if that's what you want or you could just give us a call if you want to give us a call just to all that over the phone for John and you know for me. You don't want them getting back to what we originally talked about like to boil this down with Jesus did from 6/13 to fill his love the Lord your God and your neighbor as yourself is to say that in my destination as I'm looking at this, that the number one priority for me is my healthcare right and and I think that's where people get hung up on all the good digits and gadgets and realize at the end of the day, you know, if I get sick and whatever at the these things you know have got big consequences as to my actual health right you to go back to biblical. We talked in the beginning I think of people lose sight what you just said to me why are you wire why mess with Medicare why I do all this is what I talk about these it keep an eye on the big picture you want to have good healthcare access to good care you want to go broke you want to have a good drug plan that allows you to get drugs that you need and you don't want to have a huge premium notice they can put up a table so that the goal anyone have some peace of mind and not worry like a help, I think that connection. The references were de-oiled ground to command these two commandments, as opposed to just hang up on the 613 Sam is from my mouth and almost every time I talk to her and she's a lid on it breaks my heart to. She says I'm afraid to go to the doctor because I don't have the money for the deductible and and all those things are affected by what she chose in this very area right correct so she has deductibles and copayments on her Medicare without any more information I can assume that she's going to a network and network Dr. but maybe she's not. Maybe she's lined up with a Medicare advantage plan and she's going to a doctor outside the network that will be out of pocket. But even if she's going to a network Dr. that some she could face something to make a decision on years ago and she's living with.

So this is exactly how we want to talk to like details, you know, this annual enrollment period is a perfect time. If you're facing those kinda concerns like it. The most important thing is Ralph writing you be able to to live life and and that's what these things are force It's a really good time to check your map right can't will it is you don't really study the point where you know it so well that you know exactly what you want what you want to do with ranking of people never do and give us a call over here for we can help you figure out where you're at K in if you want to go ahead and tell us a little bit of that if you come into us with an email or a lot of people email me.

Now it's very convenient for me and it's good threatening make a phone call and tell me your heart says like plan G auditor plan and that I can tell where you are because you're run original Medicare part a part in your honor. Supplement and then most likely you have a separate drug plan, part D drug plan yet if you could tell me what that is.

As well, or be ready to tell me that you call in, we can get you in the right place at your Medicare advantage plan, then your part D plan card is good to be the same as your health insurance cartridges because they Humana on United healthcare so that the person were to do with anybody's figure out where you are and then from there you explain it to you little bit and then talk you would drop have enough probably lost a lot of my case I'm just trying to save money but I don't want to do it at the cost of not you know have in my health is so you can see it's a wonderful time of year for those kind of things as as we head into October and and again all this information is they are available.

Cardinal guy.com which is Hans's book the complete cargo guide planning for living retirement as well as it's pretty easy to click and email harms right there.

From his website or if you go on YouTube you can see this whole video that that Hans is done on Medicare that they recently released under Cardinal advisors so great time today Hans thank you so much for sharing all this information you finishing well is a general discussion and education of the issues facing retirees Cardinal guy.com Cardinal advisors upon trial CFP some insurance this show does not offer investment products or investment advice. We hope you enjoyed finishing well brought you by Cardinal guy.com visit Cardinal guy.com for free downloads of the show previous shows on topics such as Social Security, Medicare, IRAs, long-term care, life insurance, investments and taxes as well as constant best-selling book, the complete Cardinal guy to planning for and living in retirement and the workbook once again for dozens of free resources past shows you get Hans book of the Cardinal guy.com if you have a question, comment or suggestion for future shows.

Click on the finishing well radio show on the website and send us a word. Once again that's Cardinal guy.com Cardinal guy.com.

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