Things happen and things change including your health and sometimes your health plan as well. Take advantage of the 2020 Medicare Annual Election Period (“Open Enrollment”) to review your current coverage and make sure it is still what you need from your health plan. The Annual Election Period (AEP) is October 15 to December 7. […]
2020 Part D Premiums, Deductibles & Donut Hole Changes
When first implemented in 2006, Medicare Part D plans had a built-in gap in coverage. During this coverage gap (aka, “Donut Hole”) drug plans paid nothing toward the cost of your medications. But that’s no longer the case. In 2012, the Affordable Care Act (ACA) implemented a phase-in of discounts for beneficiaries in the Coverage […]
9 Services Medicare Doesn’t Cover that Most Seniors Need
As we age most of us need eye care, dental work, foot care, hearing aids, and additional medical care, but Medicare generally won’t pay for any of these health services. And if you need extensive long-term care, Medicare only covers you for a limited amount of time and under very specific circumstances. Here’s a look […]
Medigap Plan K vs. Medicare Advantage Plans
It has long been assumed that Medicare Advantage plans are the way to go when you need a low monthly premium. The risk trade-off, of course, are higher out of pocket costs until you reach the annual spending limit. There is, however, one Medicare supplement that has similar premiums and an annual out of pocket […]
Medicare Advantage vs. Medigap: Which Is Best?
Comparing Medicare Advantage and Medigap (Medicare Supplements) Medicare Advantage replaces your Original Medicare benefits with managed care.Medicare Supplement insurance fills gaps in your Original Medicare benefits.Choosing the best option is easy if you follow the simple steps outlined below. Medicare Advantage enrollment has increased steadily over the past few years. The primary reason is cost. […]
Are You Eligible for Medicare Yet Still Working? How Does This Affect Your Medicare Coverage?
Great news – whether or not you retire at age 65, you are still eligible for Medicare! If you, or your spouse, are still employed you may have health insurance through that employer. The first step you should take before you enroll in Medicare is to talk with your human resources department. You will need […]
Optimizing Your Medicare Prescription Drug Plan
If you take regular prescriptions, you already know how expensive it can be. The older we get, the more chronic conditions set in, and our medications get even more expensive. That’s why having a prescription drug plan is so important. For people with Medicare health insurance benefits, there are two ways to get drug coverage. […]