By RetireMED®iQ

Here at RetireMEDiQ, our goal is to simplify your Medicare experience so you can get back to doing what you love. Making the transition to Medicare or Marketplace coverage upon retirement is overwhelming and stressful. When you trust RetireMEDiQ with your retirement health insurance, our team of trusted advisors is here to guide you every step of the way for...

By RetireMED®iQ

The Development of Medicare Advantage The roots of Medicare Advantage (also known as Medicare Part C) go back to the 1970s. At that time, beneficiaries could receive managed care through private insurance companies. It was not until 1997 that the program, then called “Medicare Choice,” became official with the passing of the Balanced Budget Act. In 2003, Medicare Part D...

By RetireMED®iQ

Regular exercise is an important ingredient to part of a healthy lifestyle. According to a study by Healthways, routine use of a fitness program “may help to slow or reverse natural trajectories toward declining health and functioning.” It warns that a lack of physical activity can contribute to the increased risk of chronic diseases. In addition to physical benefits, the...

By RetireMED®iQ

As each year progresses, many retirees worry about entering the dreaded Medicare Part D “Donut Hole.” What is the Donut Hole? While the Donut Hole is a fun name, the formal term for this benefit period is called “the Coverage Gap.” It’s called the Donut Hole or Coverage Gap because after you and your insurance company have paid a certain amount of...

By RetireMED®iQ

Medicare Supplement Plans (Medigap Plans) Medicare Supplements are sometimes called Medigap plans, because they were designed to supplement Original Medicare and “fill in the gaps,” paying the deductibles and coinsurance for Medicare-covered services. Read More: 5 Insurance Terms You Need to Know There are 10 standard plan designs, and they are named by letters in the alphabet (e.g. Plan F,...

By RetireMED®iQ

As you may know, there are many Medicare plans out there. At RetireMED®iQ, we help you navigate through your options and choose the plan that meets your needs. One type of Medicare plan you may have heard about is Medicare Advantage, or MA plans. Because Medicare typically only covers about 80% of medical costs, most people who enroll in Medicare...

By RetireMED®iQ

Each Medicare Part D Prescription Drug plan has a list of drugs that it covers. This list is called a formulary. Within your plan’s formulary, prescription drugs are broken up into price categories called tiers. Drugs placed in a lower tier tend to be less costly, while drugs placed in higher tiers are more expensive. A note from our Benefit...

By RetireMED®iQ

Many employers offer employees a Health Savings Account (HSA) as part of their health benefits. HSAs are financial accounts that are available for employees to contribute funds without paying any taxes on them. All funds that are put into an HSA must be used for qualified medical expenses, and if the funds are used for any other purpose, the money...

By RetireMED®iQ

If you are considering working past 65, there are some important things you should be aware of. By taking these things into consideration, you can reduce stress, avoid unnecessary penalties later down the road, and have a much smoother retirement when the time comes. While we give general recommendations and examples of common scenarios, we strongly encourage you to speak...

By RetireMED®iQ

You may be aware that when it comes to your retirement health insurance, there are more options than just Original Medicare. Original Medicare consists of Parts A and B, which provide hospital and outpatient medical coverage. While this coverage is certainly important, there are a few reasons we recommend considering additional coverage to Original Medicare. Original Medicare does not offer...