Common Medicare Questions

For many people changes to Medicare have been confusing. Below is a list of common questions and answers. 1. When can someone change their Medicare plan? Any time of the year if you have a special election period (SEP) or in the fall during AEP? 2. What is AEP? Annual Enrollment Period, which occurs on October 15 and ends December 15. 3. What should people consider when looking at enrolling in a plan? Ask the following questions: Will it be easy to get my questions answered after I enroll? Are my doctors and medications covered? Will I have coverage if I travel outside...

Have cancer, diabetes, heart disease? Th...

If you suffer from chronic conditions such as heart disease, cancer or diabetes and are eligible for Medicare. You should consider enrolling in a Medicare Advantage plus special-needs plan. Special needs plans are created so that their benefits will provide a list of covered drugs and provider choices that will meet the needs of those with certain chronic conditions. There are three types of special needs plans. One is for seniors living in nursing homes and other institutionalized settings. The second one is duel eligible, which mean seniors are eligible for both...

3 Ways to Avoid the Late Enrollment Pena...

1. Join a Medicare Prescription Drug Plan when you are first eligible. You will not have to pay a penalty, even if you have never had prescription coverage before. 2. Do not go 63 days or more in a row without a Medicare drug plan or some type of creditable coverage. This creditable coverage could include drug coverage from a current or former employer or union, Department of Veterans affair, TRICARE, or Indian Health Service. Your plan must tell you each year if your coverage is creditable. 3. Tell your plan about any drug coverage you had if they ask about it. When a...

Navigating enrolling in Medicare rules; ...

Medicare has what they call enrollment effective date schedule that is not mentioned in the 2014 Medicare & You Handbook. However; on page 21 in the handbook, under initial enrollment period, it says that if someone is enrolled in Part A and/or Part B the month they turn 65 or during the last three months of initial enrollment period. The start date for your Medicare coverage will be delayed. Medicare’s effective date schedule is within the 7th month period, which will occur 3 months before you turn 65, the month you turn 65, or 3 months after you turn 65....

Medicare 2014 Costs

Medicare 2014 Costs at a glance Part B Premium–Most people will pay $104.90, each month. Part B Deductible—$147 per year Part A Premium–Most people do not pay a monthly premiums for Part A. If you buy Part A, you will pay up to $426 every month Part A hospital inpatient deductible you will pay: Beyond lifetime reserve days: all costs $1, 216 deductible for each benefit period Days 1-60: $0 coinsurance for each benefit period Days 61-90: $304 coinsurance per day of each benefit period Days 91 and beyond: $608 coinsurance per each “lifetime reserve...