Many of you have seen Medicare related commercials lately. The ones I have been hearing about from clients are those that say something to the effect of “Call and see if you qualify for extra services, like $144 back each month” or You could also qualify for a $0 premium plan with extra benefits like Read more about Commercials and my opinion[…]
Medicare will stop using Social Security numbers for identification. Beneficiaries who already have a Medicare identification card with their Social Security number, know that Medicare will mail you new cards with Medicare ID numbers. Mailing will begin in April 2018 and be completed by April 2019. The change is intended to protect beneficiaries from identity Read more about New Medicare Cards[…]
Network Types When selecting a health plan, you will want to know about a few common NETWORK Types: PPO (Preferred Provider Organization): These plans do not require a Primary Care Provider and allow you to go to doctors outside of the Network. There may be different limits, and deductibles when using services that are considered “Out Of Network” One Read more about What are HMO, PPO, EPO Network Types?[…]
This information is NOT intended for those on GROUP retiree plans, or other Group plans, who wish to KEEP those plans. It is for those of you on individual Medicare. The Open Enrollment Period Starts Oct 15th 2017 and continues till Dec 7th 2017. This is when those of you with individual Medicare Advantage Read more about Medicare Open Enrollment[…]
For those on Medicare, Social Security offers Extra Help for individuals with limited incomes and assets: Why is this important? The cost of prescription drugs can be challenging. Even more so for individuals that may not have the resources they once had, to pay for them. If you qualify for Extra Help, then you Read more about Extra Help (Low Income Subsidy)[…]
So, you are turning 65 or you are eligible for Medicare, and you are covered through your current employer’s group insurance, or through your spouse through their current employer’s group insurance. But now you are considering if you should get Medicare Part B. What should you do? How do you know? One quick note, which Read more about Covered under your or your spouses employer plan?[…]
Please know, that if you have Medicare Part A (BUT not Part B), and you are offered COBRA that you need to be aware of when you can apply for Medicare Part B. IF you want Medicare Part B, you must do so within 8 months of losing active employer coverage. But your Read more about What if they offer COBRA?[…]
Creditable Coverage for Prescription Drugs Is coverage that is expected to pay at least as much as Medicare’s Standard Prescription Drug Coverage, on average. Examples of creditable coverage are Employer or Unions plans, VA Benefits, TRICARE or Indian Health Services. If you HAVE creditable coverage when you become eligible for Medicare You typically can Read more about Creditable Coverage[…]
The Income Related Monthly Adjustment Amount (IRMAA) is a sliding scale approach to Medicare Part B and Part D cost to you. Okay, what does that mean? Well, frankly, if you did well, and your income was over a certain dollar amount, then Social Security may apply an IRMAA on your Medicare Part B and Read more about IRMAA what is it?[…]
The Part B deductible has changed over the years. This becomes important in understanding how it impacts your Medicare Supplement plan choice. Part B Deductible over the years Year Annual Part B Deductible 1966-1972 $ 50.00 1973-1981 $ 60.00 1982-1990 $ 75.00 1991-2004 $ 100.00 2005 $ 110.00 2006 $ 124.00 2007 $ 131.00 2008-2009 Read more about Part B Deductible over the years[…]