2021 Medicare Advantage plans
Medicare health plans and prescription drug plans can make changeseach year—things like cost, coverage, and which providers andpharmacies are in their networks. Plans also can change their providernetworks throughout the year. If you’re in a Medicare health orprescription drug plan, always review the 2021 materials your plan sends you(like the Annual Notice of Change and Evidence of Coverage) and makesure your plan will still meet your needs for the following year. If you’resatisfied that your current plan will meet your needs for next year andit’s still being offered, you don’t need to do... read more
2021 Medicare and You Handbook
Your Medicare options. When you first enroll in Medicare and during certain times of the year, you can choose how you get your Medicare coverage. There are 2 main ways to get Medicare. Plans must cover all of the medically necessary services that Original Medicare covers. Most plans offer extra benefits that Original Medicare doesn’t cover—like some vision, hearing, dental, routine exams, and more. Plans can now cover more of these... read more
2020 Medicare and You Handbook
Original Medicare is one of your health coverage choices as part of Medicare. You’ll have Original Medicare unless you choose a Medicare Advantage Plan or other type of Medicare health plan. You generally have to pay a portion of the cost for each service covered by Original Medicare. See the next page for the general rules about how it... read more
Understanding The Medicare Donut Hole
What is the Medicare “Doughnut Hole”? How is the Medicare Part D Doughnut Hole broken down in terms of dollars and cents? How will the Doughnut Hole effect me? If I receive a Low Income Subsidy from Medicare (i.e. extra help) how will the Doughnut Hole affect me? Will I hit the Doughnut Hole? When will I hit the Doughnut Hole? When will the average Medicare enrollee hit the coverage gap called the Doughnut Hole? Do I still have to pay my monthly Medicare Part D premiums while I am in the Doughnut Hole? What expenditures count towards the $2850 level that puts me into the Doughnut Hole? What is the reason that the government created a Doughnut Hole in the Medicare prescription plan? Will the Doughnut Hole be the same in 2015? How many people will hit the Doughnut Hole in 2015? What are out-of-pocket (OOP) expenditures? What expenditures do not count towards my out-of-pocket expenditures? What is the catastrophic coverage point? What other issues are there with the Medicare Part D program that may affect me? How can I avoid the Doughnut Hole? What is the Medicare “Doughnut Hole”? The Medicare Doughnut Hole is the gap in the 2014 Medicare Plan D coverage between $2850 and $4550 in prescription drug spending. (Please see below for an important note on how your prescription drug spending costs are calculated.) During this gap in coverage, you’ll pay 47.5% of the plan’s cost for covered brand-name prescription drugs and 72% of the price for generic drugs. In 2014, this is a gap in coverage of $1700 that you must pay more money... read more
Double dose, Half Cost
Chicagoan Jonathan Winans, 75, is curtailing costs in this time of high gas and food prices, in part, by zeroing in on prescription costs. The retired Dominick’s deli manager has high blood sugar, high cholesterol, arthritis and a heart condition. He’s on a dozen medications, and his wife, Elaine, 76, is on the medication Plaquenil for her arthritis. “I have my doctor write prescriptions for pills at twice the dose and prescribe half a pill,” he said. Then Winans cuts the pills in half with a pill cutter. “Prescriptions last twice as long with just a little more cost,” he said. With the couple only having Medicare Part D prescription drug coverage, costs are a heavy burden, he said. That’s especially true when the “doughnut hole” kicks in for him in the last four or five months of the year, he added. Under Medicare Part D prescription drug coverage, Medicare will pay a percent of drug coverage, minus the deductible, up to a total drug cost of $3,700. After that, seniors have to foot the bill for the costs until they’ve spent $4,950 out-of-pocket and coverage resumes. The Winans’ other cost-cutting ways: • • “I’ve learned to cut back on gas by ‘stacking’ errands and routing them to put on the least miles,” he said. “I’ll sit down and draw a little map and say, ‘Well, I’ll go to here to here to here.’ I’ll do all [the errands] on a Saturday or a Sunday so that I can get as many trips out of the way as possible with the least amount of mileage.” • • The couple also... read more
Texas Medicare Supplement Options
For those who are soon turning age 65, you are likely to be researching your options for Medicare health care coverage. In doing so, you will find that there are two primary options for obtaining this important health insurance. One option is to go with the Original Medicare. Here, you will be able to receive Medicare Part A and Medicare Part B. With Medicare Part A, various hospitalization services are covered, including certain inpatient procedures. Part B of Medicare covers doctors’ services, as well as some hospital outpatient services, and other miscellaneous care. The other option for receiving Medicare coverage, Medicare Advantage, is also referred to as Medicare Part C. With this Medicare option, you have numerous choices of health care plans. Many of these are set up in a similar manner to an HMO (Health Maintenance Organization) or PPO (Preferred Provider Organization) where enrollees need to choose their providers and health care facilities from a network. The tradeoff, however, is that there are typically many more services that are covered in comparison to Original Medicare, such as dental and vision care. The premiums that are charged for Medicare Part C may also be less. Filling in the Gaps That Medicare Leaves Behind For those who choose Medicare Advantage, there are several items covered about health and wellness. And, while there may be some out-of-pocket charges, these will typically differ from one plan to another. Those who opt for Original Medicare (Medicare Parts A and B), however, will usually run into a fair amount of out-of-pocket costs. This is especially the case if the enrollee encounters many doctor visits... read more
Types of Medicare Advantage Plans
There are several different types of Medicare Advantage plans. HMO (Health Maintenance Organizations) HMOs account for the largest share (64%) of Medicare Advantage enrollment and have been available under Medicare for several years. HMOs are the most tightly managed plans and utilize a defined network of providers that beneficiaries generally must use to receive care (with some exceptions, such as emergency care). If you get health care outside the plan’s network, you may have to pay the full cost. Do I need to choose a primary care doctor? In most cases, yes. Do I have to get a referral to see a specialist? In most cases, you need a referral. Certain services, like yearly screening mammograms, don’t require a referral. PPO (Preferred Provider Organizations) PPOs also utilize provider networks. However, with PPOs, patients can choose to obtain care outside the network for a higher cost-share amount. Do you need to choose a primary care doctor? No. Do you have to get a referral to see a specialist? No. If you see a Plan specialists cost will usually be lower. PFFS (Private Fee-for-Service Plans) PFFS plans are more flexible than HMOs and PPOs because they are not required to establish provider networks. Patients can see “any willing Medicare-approved provider” if the provider accepts the plan’s terms and conditions. However, some PFFS Plans now have a network. You can also choose an out-of-network doctor, hospital, or other provider, who accepts the plan’s terms, but you may pay more. Do I need to choose a primary care doctor? No. Do I have to get a referral to see a specialist? No. MSA... read more
The Difference Between MA and MAPD Plans
The Difference Between MA and MAPD Plans Most (but not all) Medicare Advantage plans include prescription drug coverage. Plans that combine medical coverage AND prescription drug coverage are called Medicare Advantage Prescription Drug (MAPD) plans. It is important to understand the difference between MA-only and MAPD plans. MA-only plans Replace Original Medicare Administered by private insurance companies approved by Medicare Offer medical coverage only (do not cover prescription medications) Patients can add prescription drug coverage by enrolling in a stand-alone prescription drug plan (PDP) MAPD plans Replace Original Medicare Administered by private insurance companies approved by Medicare Offer combined medical and prescription drug coverage in one comprehensive... read more
2017 Medicare And You Handbook
Welcome to Medicare & You 2017. Since the health care law was passed more than 6 years ago, we’ve seen a transformation in this nation’s health care. We’ve covered 20 million more Americans, while providing higher-quality care at reduced costs. And now, the Quality Payment Program, the result of a bipartisan bill passed last year, builds on these improvements. This program helps make sure Medicare doctors are rewarded for providing improved care to you, instead of being paid based on the number of services they... read more