Minnesota seniors prepare for Medicare plan shift

By |2018-09-17T14:32:48-05:00September 17th, 2018|

An estimated 320,000 seniors across Minnesota will need to change Medicare health plans in the coming months. Residents with Medicare Cost health plans have to switch because of a federal law eliminating the policy next year in most of the state. The 2003 law says Medicare Cost plans can't be offered in areas with significant competition from Medicare Advantage plans. Congress delayed the law's implementation until 2019. Medicare Cost plans will be eliminated in almost 70 Minnesota counties, including Hennepin and Ramsey counties. The plans will still be available in about 20 counties, such as St. Louis County. Insurers, government agencies [...]

Minnesota law aims to protect accounts of vulnerable seniors

By |2018-08-03T14:00:15-05:00August 3rd, 2018|

A new Minnesota law gives bankers and financial advisers some new tools to report suspicious activity tied to the accounts of potentially vulnerable seniors. The Safe Seniors Financial Protection Act took effect on Wednesday. It gives advisers the authority to delay certain financial transactions while they investigate, making the process of reporting suspicious activity easier. The law gives financial professionals a detailed way to report concerns, including a timeline on when to approach their clients about suspicious activity and when to get in touch the state Commerce Department or other regulators. Deb Marquette is the manager of vulnerable adult programs for [...]

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