Medigap Subsidies in Michigan

Swogger, Bruce & Millar Law Firm, P.C.

The deadline to pick a Medicare supplement or "Medigap" policy is fast approaching. December 7th is the last day to choose a policy during the annual open enrollment and December 15th is the last day to get a subsidy for all of 2017.

Many Traverse City seniors have been shocked by the rate increases to the Blue Cross Blue Shield Medigap policies, including the popular Medigap Legacy Plan C. The rates have been frozen for 5-years and have been the same for all demographics. Now rates will be based largely on age, sex and residence. The rates will increase from $122.86 per month to up to $315.00 per month

The Michigan Health Endowment Fund will now administer the subsidy program. You are eligible for a subsidy if: (1) your household income is below 150% of the federal poverty level, (2) you qualify for Medicare, (3) you have a qualifying Medigap policy and (4) are a Michigan resident. You do not get a subsidy if you are on Medicaid.

For example, a household with a husband and wife will qualify if their combined income is less than $23,895.00 and the other requirements are met. The subsidy ranges from $40.00 per month up to $125.00 per month.

Comments

Jeff Bartel's Commitment to Philanthropy

This is the first part of a series looking at business leaders and their charitable work. I want to explore how different leaders prioritize corporate social responsibility and business ethics. Accordingly, I am putting the spotlight on Jeff Bartel, a Miami entrepreneur and Managing Director of the Hamptons Group, who was appointed to the newly created position of Corporate Responsibility Officer for Florida Power and Light back in 2010 before these roles became standard in the corporate ecosystem. I will cover some of the highlights from Jeff’s charitable work from 2006 to 2012 and plan to feature his charitable work from 2013 to 2022 in a future article. Reducing Carbon Dioxide Emissions In 2006, Jeff worked with Sarasota County officials to help them make a strong environmental commitment so Florida Power and Light ( FPL) could build its first solar array . Sarasota County voted to allow one of its underused park locations to erect the solar array and was projected to reduce carbon...

If You Haven’t Been Regularly Reviewing Your Estate Plan, Start When You Hit 60

How frequently you should review your estate plan depends on how old you are and whether there has been a significant change in your circumstances. If you are over age 60 and you haven't updated your estate plan in many decades, it's almost certain that you need to update your documents. After that, you should review your plan every five years or so. But if you are younger, you don't need to do so nearly as often. Age Here are a few age ranges and what they mean in terms of estate planning: 18-30 Everyone needs a durable power of attorney, health care proxy and HIPAA release so that they have people they choose to step in and make decisions for them in the event of incapacity. 30-40 Once you begin accumulating assets, get married, and have children, it's important to create an estate plan to care for your loved ones in the event of your death. It also can't hurt to update your durable power of attorney, health care proxy and HIPAA release, since the peopl...

Adding Cost of Living Adjustments to Veterans Benefits

The Veterans Compensation Cost of Living Adjustment Act of 2018 aims to temporarily fix a common problem for veterans; benefits have stayed the same while the cost of living and inflation rise. Veterans benefits are effectively cut each year that Congress does not pass a COLA bill. Earlier this year, Congressman Mike Bost submitted the new bill; he is the Chairman of the Disability Assistance and Memorial Affairs subcommittee. The bill directs the Department of Veterans Affairs to increase benefits as of December 1, 2018, using the same COLA used by the Social Security Administration. Congresswoman Elizabeth Etsy said that “ensuring our heroes’ benefits keep pace with the rising cost of living is the least we can do for them. With a cost of living adjustment, we will be able to put more dollars in the hands of the men and women who served our nation. Congressman Bost stated “it’s vitally important that we ensure the men and women who have served our na...

Traverse City Medicaid Attorney

Search This Blog