We recently received a phone call from someone in Maryland, and they stated their dad who lives in California that their Medicare supplement Policy was cancelled. I asked what happened and she stated their mom stopped paying on the policy after being covered for nearly 30 years, so she could use the funds for hired help.
The mom had cancelled the policy back in October of 2021 and the kids didn’t find out about it until April 2022. She was concerned as Blue Shield of CA would not reinstate the Medigap plan.
The dad had ended up in the hospital due to complications and they had received a very large bill due to the fact the Medicare supplement plan had been cancelled.
The daughter was told to call a Medicare insurance broker in California for help, as we may have an option. We did come up with a solution now being May 2022, but it is not the most ideal solution to the problem. We will get into that in a little bit.
The last thing anyone wants to find out, is your once fantastic insurance coverage is now cancelled and will not cover 100% of the Part A hospital bill. As a family, we may not find out what our parents or parent has done related to a financial issue. While their intent may have been good, the end result can be catastrophic.
In the instance, the family would have stepped in and helped cover the cost of the Medicare supplement plan. This is what family is for, especially for their 91 year old dad. This is the time when insurance is the most valuable, as we are now heavy users.
Now facing mounting insurance bills, the daughter wanted to find out what could be done. She had appealed to Medicare with no success.
It is critical that you never stop paying into your Medicare supplement plan at all cost. As in this instance they will not be able to obtain another Medigap plan from the traditional marketplace.
In talking with the daughter we need to find a possible solution or a bandaid to our problem. The issue we faced was all of the typically Medicare supplement and Medicare Advantage plan options were not available to us in the month of May.
Open enrollment was closed which means unless there is a qualified event, her dad would need to wait until Jan 2023 to obtain Medicare insurance coverage.
I presented an alternative option known as Medishare. While this is not insurance, it is a christian sharing ministry. As her dad is a Christian he would qualify for this option.
Medishare allows for year around enrollment, and for those who are 65 and older they qualify for their senior supplement program.
Once a Medicare beneficiary has met their \$500 Annual Household Portion (similar to a deductible), 100% of their Eligible Medical Bills will be shared (paid for).
However, because he is enrolling outside of the open enrollment period, any pre-existing conditions will be excluded until January 1, 2023. After this date, all eligible medical bills will be shared.
By obtaining this Medicare supplement solution, he is able to have any new medical condition, covered by Medi-share program guidelines taken care of.
The great news is this will end up costing the dad about half of what he was paying to Blue Shield of CA.
Unfortunately this will not be a perfect solution for him for the next 6 or so months, however, once January 1 2023 arrives it will be a fantastic option. He will be able to continue to see any doctor or medical facility he prefers as he will remain on Original Medicare.
Integrity Now Insurance Brokers, is here to help solve your complicated Medicare problems. While we may not find a solution to every program, we will do our best to be the solution you are looking for.
As a Medicare Insurance Agent, we have the needed expertise our clients are needing. We have a passion to help our clients with finding the right Medicare insurance company and plan to meet their individual needs.
Before you spend countless hours researching, reach out to one of our Medicare insurance brokers for help. They are licensed and certified nationally by Medicare each year.
With our guidance, you can compare quotes and find the best Medicare insurance plan for your needs. We have all the information you need to get started on debt-free and stress-free living.