Medicare Insurance Plans
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 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 MoreSelecting 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 MoreChanges 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 MoreTypes 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…
Read MoreHow 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…
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