Types of Medicare Insurance Plans

Understanding the types of Medicare Plans Many Medicare-eligible individuals choose to add a Medicare insurance plan to help with the medical and prescription costs not covered by Original Medicare (Part A and Part B). There are several types of Medicare insurance plans to choose from and we have included information about the most common below:1.Medicare…

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Important Medicare Enrollment Timelines

There are important timelines when it comes to signing up for Medicare and enrolling in Medicare insurance plans that you need to be aware of. In addition to familiarizing yourself with these timelines, we recommend reaching out to a trusted Medicare advisor at least three (3) months prior to turning 65 to determine your action…

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Budgeting for Medicare

Overview of Costs Medicare consists of “Original Medicare” known as Part A and Part B, plus any Medicare insurance plans you may elect to enroll in, like a Medicare Advantage plan (also known as “Part C”), Medicare Supplement plan, and/or a Prescription Drug Plan (also known as “Part D”).  When budgeting for Medicare, there are…

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Appealing a Higher Part B or Part D Premium

Income Related Monthly Adjustment Amount (IRMAA) article to see the income thresholds and applicable IRMAA charges for Part B and Part D.   To determine whether IRMAA charges apply, Medicare defaults to looking at your modified adjusted gross income as reported on your IRS tax return from two years prior. For example, in 2022, they would…

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Understanding Part D Coverage and Costs

Medicare Part D prescription drug coverage may just be the most confusing part of Medicare! Estimating your out-of-pocket costs goes beyond just looking at the monthly premium. Part D costs also depend on: The medications you take and how frequently you take them Where you fill your prescriptions Your plan’s annual deductible The coverage phases…

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COBRA & Medicare

COBRA coverage and Medicare are two perplexing topics on their own. And they can become even more confusing when you are eligible for both COBRA & Medicare at the same time.  COBRA (The Consolidated Omnibus Budget Reconciliation Act) is a federal law that allows certain employees and their spouse and/or covered dependents to continue group…

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