Posts by Boomer Baby
Medicare Premium, Deductible, Cost-Sharing and Other Changes for 2024
The Centers for Medicare & Medicaid Services (CMS) update Medicare premiums, deductibles, and coinsurance amounts for Part A and Part B, and the Medicare Part D income-related monthly adjustment amounts known as IRMAA annually. CMS recently announced the 2024 changes and we’ve summarized these below. Medicare Part B Premium & Deductible The standard monthly premium…
Read MoreUnderstanding 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: Below we explain more about these factors so you can better understand how Part D coverage and costs work and feel confident…
Read MorePreparing for Medicare’s Annual Enrollment Period
Like other health insurance plans, Medicare offers a yearly enrollment period that allows for people to enroll in new plans or make changes to their existing coverage. Whether you’re new to Medicare or have had a plan for years, this Annual Enrollment Period (AEP) is an important time when it comes to your coverage. Read…
Read MoreWhat if a Medication is Not Covered by your Part D Plan?
Medicare Part D is a prescription drug insurance plan for people with Medicare provided through private insurance companies that contract with the federal government. Eligible individuals can choose to enroll in either a stand-alone prescription drug plan (PDP) or a Medicare Advantage plan that provides Part D prescription drug coverage (MAPD). Every Part D plan has…
Read MoreMedicare Coverage for Diabetes
Costs Diabetes is reported in 1 and 5 Medicare beneficiaries aged 65 and older and is associated with over 60% higher out-of-pocket prescription costs compared to those without diabetes. However, there have been significant recent policy developments impacting costs, including Medicare’s new monthly and annual out-of-pocket caps on insulin. As part of the Inflation Reduction…
Read MoreMedicare & Mental Health Coverage
It is estimated that 1 in 5 Americans deal with some sort of mental health issue every year – meaning that many of us will struggle with mental health at some point in our lives. Seniors may be more at risk, since they are more likely to face life events and obstacles that lead to…
Read MoreWhat is Long-Term Care Insurance and Why Might I Need It?
By Liz Eshleman The need for long-term care can come quickly – for instance, due to a car accident or skiing injury – or more slowly, due to a diagnosis of MS or Parkinson’s, or from the simple frailty that can come with aging. You may have heard the term often, but what exactly is…
Read MoreConsidering Adding an Individual Dental or Vision Insurance Plan?
Here Are Tips to Help You Evaluate Your Decision. Are you considering adding coverage for dental and/or vision? If so, there are a few things to consider before deciding whether it’s worth it to enroll, and if so, which plan to enroll in. Let’s start with the basics of these kinds of plans which may…
Read MoreDo You Have Adequate Health Insurance Coverage for Your Upcoming International Trip?
Get Peace of Mind with the Right Travel Insurance Coverage. Though some Medicare plans provide a worldwide emergency benefit in certain situations, coverage for illness or injury while traveling overseas is generally not covered. Read below to learn how Medicare coverage works with foreign travel and the role a good travel medical policy can play…
Read MoreWhat is the Medicare Advantage Open Enrollment Period MA-OEP?
Most people are aware that you can enroll in or make a Medicare Advantage or Part D plan change during the Medicare Annual Enrollment Period (AEP), which runs from October 15th thru December 7th every year. It’s hard not to know about this window, with all the advertising and mail solicitations that you are likely…
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