If you are looking for supplemental medical coverage, you may be considering purchasing Medigap. If this is the case, you should be aware of the best time to sign up for Medigap and what limitations are place for the signup process. Your friend in the signup process is open enrollment. This 6-month window that starts when you turn 65 gives you enormous benefits to the rates you can receive. During open enrollment insurance companies are legally obligated to sell you Medigap.
They cannot give you an increased rate based on your preexisting medical conditions either. This easily makes open enrollment the best time to sign up for Medigap. But what happens if you want to purchase medical insurance at any other times? Well you can apply for Medigap whenever you like but you are not guaranteed policy approval. Insurance companies may turn down your application because they see you as too much of a medical risk and don’t believe they will be able to make their money back. If you are turned down by insurance companies because you do not meet their minimum medical requirements, you may be eligible for a select form of Medigap.
This select policy comes with an exit window of 12 months. If during this time you decide to change your mind and switch to a regular form of Medigap, you may do so without penalty. It is important that you plan for Medigap before you turn 65. That way you can shop around different insurance providers and find the rate that works best for you. No matter which provider you go with, their coverage will always be the same for each of the plans of Medigap.
For women age 65 and on Medicare, there’s quite a bit that needs to be considered when it comes to buying additional insurance. After all, Medicare doesn’t pay everything and you need to determine how any additional expenses such as co-payments, deductibles, and coinsurance will be paid for.
Other considerations outside of Medicare would be items such as dental and vision care. If you have problems now, they’re likely to only get worse as you age. This makes it’s even more vitally important to do your homework and choose wisely.
Choosing a supplement plan for Medicare doesn’t have to be hard. If you follow a good plan you’ll end up with great coverage for a low premium.
Do research into the different plans and choose one that fits your needs. If you’re relatively healthy than perhaps you don’t need the very best plan out there which is Plan F. For those who almost never visit their doctor this is likely to be too much coverage. Instead you might want to choose a Medigap Plan N.
Once you’ve decided on one of the Medigap Plans it’s extremely important to get Medicare Supplement rates from many different insurance carriers. All companies offer the very same coverage, however their monthly premiums are all entirely different for the exact same thing! You could end up overpaying by as much as 65% or more if you don’t choose wisely and get quotes.
Apply for the plan you like with the company that looks the best and has a great rate. You have 30 days to think it over after you purchase a Medicare supplement plan, and if you are not satisfied you can call the company during this time and get your money back.
Over the years the amount of people unemployed seems to go up and down. It seems that the upward swing is higher than the downwards swing. According to unemployment statistics from 2007 the unemployment rate averaged 4.4 percent. While the average for 2012 was 8.07, almost double of what is was in 2007. The problem with the statistics is that it only counts the people who are applying for unemployment income. It does not take into consideration the ones who have exhausted their claim or are not eligible for unemployment.
According to the Department of Labor the private sector has added almost 200,000 jobs since the beginning of 2013. This supposedly has caused the rate of unemployed go down to its lowest since the end of 2008. The private sector has added around 176,000 jobs while the public sector had to lay off 11,000 employees. It seems that the while private companies are generating employment, the government has to lay off workers.
While more jobs have been created the number of hours an employee works has decreased. The average work week is 34.4 hours a week. This is a sign that while the economy seems to be recovering it is not recovering the way it should. With employees working fewer hours this means less money to spend causing even more of a cutback.
The job economy is expected to slow down because of fiscal tightening in Government. While payroll taxes have been increased, congress is creating spending cuts. The cutbacks in government have a direct impact on the public job sector. It is has been said that if it was not for the government the job economy would actually be stronger.