A growing number of Americans are choosing to work past their 65th birthday. According to data from the Bureau of Labor Statistics (BLS), approximately 20% will decide to continue working well into their 60s and 70s. The top reason for the shift is a positive one. As many as 75% of Americans over the age …
Your Medicare Enrollment Choices When Working Past The Age of 65 Read More »
Medicare drug coverage for outpatient self-administered prescription drugs is an important benefit available to those covered by Medicare. It’s crucial to understand how to maximize your benefits and use your Medicare prescription drug coverage effectively to reduce out-of-pocket costs. Your Doctor Prescribed You a Medication: Now What? To take full advantage of your Medicare plan’s …
How to Use Your Medicare Prescription Drug Coverage Read More »
Original Medicare (Part A and B), introduced in 1965, did not cover outpatient prescription drugs. Over time, Medicare beneficiaries paid increasing amounts for out-of-pocket drug costs that, by 2003 were rising by roughly 12% annually. These higher costs to beneficiaries led Congress to pass the Medicare Prescription Drug Improvement and Modernization Act of 2003 to …
Your Guide to Medicare Formularies and Part D Prescription Drug Coverage Read More »
The average Medicare beneficiary must deal with a combination of increasing healthcare costs and possibly a growing number of medical needs. As of 2019, a typical couple might spend a total of almost $300,000 in medical expenses over the course of their retirement. 80% of those costs can be traced back to Medicare premiums, medical …
How to Compare Medicare Supplement Insurance Policies Read More »
If you’re considering enrolling in a Medicare Advantage plan, it’s important to evaluate your options based on your situation and needs. Here are some top factors to consider when exploring your options: your geographic location, total plan costs, additional plan benefits, formulary composition and medical provider network. Read our concise guide for tips on comparing …
What Is the Right Medicare Advantage Plan for Me? Read More »
Research shows that between 10 and 12 thousand people turn 65 each day, making them eligible for Medicare. While working, you will notice Medicare taxes (for Medicare Part A hospital insurance) are taken out of your paychecks. Once you or your spouse work the required 40 quarters or 10 years, you will not have to …
Being proactive in maintaining dental and oral health is an important part of our overall healthcare needs. However, Original Medicare doesn’t provide benefits for basic dental needs and what is covered is very limited. For example, Medicare does not provide coverage for dental services like fillings, routine checkups, tooth extractions, teeth cleaning or dentures. Instead, …
Dental Coverage: Does Medicare Cover Dental Care? Read More »
There are many circumstances in which Medicare beneficiaries are enrolled in two health insurance plans at the same time. As you can imagine, there are a number of scenarios one can fall into; however, there are regulations in place to determine the coordination of benefits (COB). This specifically determines which plan pays first and then …
What is a Medicare Late Enrollment Penalty? A Medicare Late Enrollment Penalty (LEP) is an additional monthly amount you will be required to pay to Medicare if you did not enroll in Medicare Part B and/or D when you first became eligible. Additionally, for those that have to pay for Medicare Part A, there is …
The Annual Enrollment Period (AEP) presents Medicare beneficiaries like yourself with the opportunity to change your existing coverage choice each year from October 15 – December 7. It’s easy to be overwhelmed by all the available options for Medicare Advantage plans (formally referred to as Medicare Part C plans) and Part D prescription drug plans, …
How to Evaluate Your Medicare Advantage and Part D Plan Options During AEP Read More »
