“The ANOCs are in the mail.” Each year, by September 30, individuals enrolled in a Medicare Advantage (Part C) or Medicare Part D Prescription Drug plan receive by mail a document called Annual Notice of Change (ANOC.) The ANOC document spells out upcoming changes to the plan you are currently enrolled in and compares those […]
Passage of the Inflation Reduction Act (2022) has meant several changes to Medicare Part D, including these most frequently mentioned: 2023: Insulin co-pay capped at $35 for 30 day supply. 2024: Catastrophic Coverage Stage cost sharing eliminated. 2025: Annual Out-of-Pocket Drug cost sharing capped at $2000. 2026: Medicare and drug companies, for the first time, […]
If you are enrolled in Medicare Parts A and B and have limited income you may be able to get assistance with your health care costs through a Medicare Savings Program (MSP) If eligible, you will receive help paying the Medicare Part B premium, (currently $174.70) and automatically get Extra Help, the federal program that […]
Diane turned 65 in April 2023, however, declined the Medicare Part B coverage as she chose to remain working and insured through her employer’s group health plan. In mid November, she decided her retirement date would be year-end and asked about Medicare Supplement plan to become effective in six weeks, January 1. I advised that […]
When a hospital or medical claim is submitted to Original Medicare, Medicare first determines whether the claim is approved or not and then assigns an “allowed amount.” However, Medicare may not pay that allowed amount in full. Beneficiaries are responsible for the Part A deductible, Part A co-pays, the Part B deductible and Part B […]
With the “Dog Days of Summer” behind us, our team of licensed agents is preparing for the 2024 Medicare Annual Enrollment Period. How so? Each of us is required to successfully complete the Medicare training course with America’s Health Insurance Plans (AHIP). Following that, each agent is required to successfully complete product knowledge, code of […]
Unlike Medicare Part A, which covers inpatient care in a hospital, skilled nursing or hospice facility, Part B covers through outpatient care, services from doctors and other providers, durable medical equipment and many preventative screenings. Individuals already receiving Social Security benefits are automatically enrolled in Parts A and B effective the first day of the […]
2023 Medicare “Income Related Monthly Adjustment Amount” to Part B and Part D Premiums The 2023 standard monthly premium for Medicare Part B beneficiaries is $164.90. However, it seems from the number of client calls we have received this week many will be charged an additional Income Related Monthly Adjustment Amount (IRMAA) for Parts B and D […]
Medicare’s 2023 Open Enrollment Period, also known as the Annual Enrollment Period, concluded on December 7. Since there are three other Enrollment Periods (Initial, General and Special) it is no surprise that when we hear about a fifth Enrollment Period – this one begins on January 1 and ends March 31 – we shake our […]
Recently I’ve been hearing conflicting stories on whether COVID-19 over-the-counter test kits are covered by Medicare and, if so, what card should members present for billing. (Previously, we could order kits free of charge through the federal government but that has ended.) And so I went in to my local CVS (my drug plan’s preferred […]