What 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…Read More
Selecting the Right Part D Drug Plan
Each year during the Annual Enrollment Period (AEP), Medicare enrollees can enroll in or make a change to their Medicare Advantage and/or Part D coverage. AEP takes place each year from October 15th thru December 7th and any changes made are effective on January 1st of the following year. AEP is also the time of…Read More
Medicare Premium, Deductible, Cost-Sharing and Other Changes for 2023
The Centers for Medicare & Medicaid Services (CMS) update Medicare rate and benefit changes annually. CMS recently announced changes to Premiums, Deductible and Cost sharing for the 2023 year. We’ve summarized the main changes below. Medicare Part B Premiums The standard monthly premium for Medicare Part B enrollees is decreasing from $170.10 in 2022 to…Read More
Changes Coming to Part D Prescription Drug Costs
The Senate passed the Inflation Reduction Act on August 7, 2022, which has significant provisions affecting Medicare drug prices. In addition, most Part D plans change annually. The changes you may see with your Part D plan include a different premium, deductible, cost-sharing limits, and covered drugs. Below is a summary of some of the…Read More
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…Read More
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…Read More
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…Read More
How Do I Sign Up for Medicare?
Your starting place for signing up for Medicare will be the Social Security Administration. Signing up for Medicare means enrolling in Part A and/or Part B, which is also referred to as “Original Medicare”. You can do this in person at your local Social Security Office, online at www.ssa.gov or over the phone. If you…Read More