Individuals enrolled in Medicare Parts A and B may apply for the Medicare Savings Program. If eligible you will receive help paying the Medicare Part B premium, currently $135.50. In some instances, (QMB) the program will pay your Part A and Part B deductible and co-insurance amounts. (And possibly a percentage of your Part C […]
This is a step in the right direction. Drug manufacturer Eli Lilly is introducing Insulin Lispro, a generic version of Humalog – an insulin to treat Type 2 diabetes. However don’t expect for this to appear on your health insurance generic drug formulary anytime soon. “…those with drug coverage will either experience no change or […]
If you, a loved one, friend or neighbor has experienced “sticker shock” with your Medicare Part D prescription drug co-payment, the following case study may interest you. Earlier this week, I received this message from an Albany New York County couple: “We were talking with our neighbor Kathy about the sudden and unaffordable cost of […]
On January 4, 2019 the Wall Street Journal published a powerful article written by Joseph Walker and Christopher Weaver describing how Medicare Part D insurers kept $9.1 billion more in taxpayer funds than they would have had their estimates been accurate from 2006 to 2015. In the WSJ article, the writers do a deep dive […]
A client called this morning and asked this question: “Dan, I went to refill my prescription and was quoted almost double what I paid in 2018.“ Medicare Part D Prescription Drug plans reset each year on January 1. What that means is the prescription drug benefit levels start over at what is called the Deductible […]
Previously: In the first two posts in this series, Phase I: The Prescription Drug Deductible, and Phase 2: The Initial Coverage Period, I reviewed how Medicare Part D drug plan benefits reset each January 1, how Medicare Part D prescription drug plans may include a deductible amount to be paid before any medications are covered […]
In my previous post, Phase I: The Prescription Drug Deductible, I covered how Medicare Part D drug plan benefits reset each January 1. The post also described how a plan deductible amount may apply to any or only a specified group of medications. For many, depending on whether your January refills were affected by the […]
It’s early January which means Medicare Prescription Drug payment phases have just reset. And I hear this question: “Dan, I just went to refill my medication and the pharmacist quoted me a co-pay almost double what I paid in December.” Medicare Part D Prescription Drug plans reset each year on January 1. What that means […]
This year’s Medicare October 15 through December 7 AEP (Annual Enrollment Period) was a busy time for me and I’m grateful for the scores of individuals and couples who permitted me to help with their 2018 Medicare Supplement, Medicare Advantage or Part D Prescription drug plan selection. Still, as I am fielding calls for help […]
Q: “Dan, I just received a letter stating I will have to pay a Part D late enrollment penalty next year for not having a drug plan during the months of February through December, 2017. What’s this all about?” A: “Sam, after you turned 65 in October 2016 you had individual coverage with prescription drug […]