9/21/2018 By Agent Ken CobbBy Agent Ken Cobb
This year in Minnesota, a large percentage of Medicare beneficiaries will be forced to choose a new health plan, because the popular Cost plans with Blue Cross, Health Partners and Medica are ending on 12/31/18 in many Minnesota counties. If you are one of those affected, you can choose to pick a new plan on your own or you can use the services of a broker or agent such as I.
Nearly every Medicare client I talk to tells me how confusing it all is. There are so many things to consider, such as what type of plan or plan combination is best, which carrier to choose and how to find the drug plan that will best cover your prescription needs. In addition, Medicare terminology is just so confusing; it’s hard to know what it all means.
So you’d probably prefer to reach out a local, trusted professional for assistance in simplifying your decision. But you may be wondering, “How much more will it cost me to get the help of an agent?”
I have great news for you. Medicare agents such as I do not charge you anything to help. Instead, we are paid commissions by the plans that we sell. And your Medicare plan will cost exactly the same price whether you buy it through an agent or not.
To a fairly large degree, Medicare plans rely on agents to market and assist people in purchasing their plans; so they factor in the cost of agent commission when setting their rates. Since the rate you will pay for your Medicare plan already covers the service of an agent, you may as well take advantage and reach out to an agent for help in choosing a plan. After all, it’s already paid for.
If you are one of the many losing your current plan at the end of the year, 2019 plan information will be available on October 1, and you can sign up for your 2019 coverage starting October 15. As things tend to get busy around the holidays, a good goal might be to have everything squared away before Thanksgiving. If I can be of help, here’s how to reach me.
As a Minnesota health insurance producer licensed in the state of Minnesota, I offer Advantage, Part D, Cost and Medigap plans through several carriers with whom I am appointed. (I cannot serve residents of other states.) Open enrollment for 2019 Advantage, Part D and Cost plans begins on 10/15/18 and ends 12/7/18. If you are losing your Cost plan, you will also have a special enrollment opportunity allowing you to enroll in one of these plans through 2/28/19, with coverage effective the first of the following month.
About the Author
Agent Ken Cobb
Ken is the owner and principal agent at Pine Country Insurance in Bemidji. Active in the insurance industry since 2000,Ken uses his years of personal insurance knowledge and experience to assist clients in customizing insurance coverage to fit their needs. Ken considers himself a "farmer" rather than a "hunter"; rather than focusing on writing a lot of new policies as quickly as possible, he works on cultivating long term relationships based on trust with his clients. When writing new policies and meeting for annual reviews, Ken spends time with his clients explaining and helping them understand their insurance, and he is also pleased to share his knowledge with his blogging audience as well.
Ken Cobb is owner of Pine Country Insurance and has been active in the insurance industry for over 15 years. Meet Ken.
Coverage descriptions found in this blog are summaries provided for general educational purposes and cannot fully detail the terms, conditions, limitations or exclusions of a specific insurance policy. Please read your policy carefully.