The Medicare Part D prescription drug Coverage Gap or Donut Hole, is the phase of your Medicare Part D benefit where there is a significant gap in your prescription drug coverage. During this phase, you have to pay more for your name brand medications, until you reach the catastrophic coverage phase where you will then have very small copays for those same name brand drugs. When your total … [Read more...]
Medicare is confusing – a Medicare insurance agent can help
Using a Medicare insurance agent can help you understand a somewhat confusing Medicare system and guide you in your Medicare insurance decisions. According to the New York Times, for millions of older Americans, Medicare's Annual Election Period is time to sift through the mind-boggling array of Medicare plans. There is an average of 29 drug plans to digest, and about 18 options for Medicare … [Read more...]
Medicare Premiums In 2013
The Medicare premiums in 2013 (for Part B) will be $104.90 per month for most individuals but if your yearly income was higher than the average American you may have to pay more. How much does Part B cost? Most people pay $104.90 for their Part B premium each month. BUT... If your modified adjusted gross income (as reported on your IRS tax return from 2 years ago) is above a certain amount, … [Read more...]
Medicare News: Popular Prescription Drugs That Become Generic In 2012
In Medicare news, according to US News and World Report, the following prescription drugs will go generic in 2012. Be sure to ask your pharmacist for the generic version of your drug when it becomes available as this will save you a bundle. Name Brand Prescription Drugs that become Generic in 2012: March. Lexapro (escitalopram); $2.56 billion. Used for treating depression. March. Seroquel … [Read more...]
Medicare and Health Insurance Options at Age 65
There are loads of health insurance options for people over age 65. Below we'll discuss each of them so you get a better understanding of what to look for and which type of plan might work best for you. Private Insurance Some people, over 65, have company sponsored group medical health insurance that carries over into retirement. These plans must be reviewed by a Professional Medicare Insurance … [Read more...]
Medicare News: Lipitor Price to Fall
Finally... Lipitor's patent expired on November 30, 2011. The new generic version of Lipitor is called Atorvastatin and should be available at your local pharmacy now. The pricing for this generic version will be less than the "name-brand" but, starting in June 2012, when all drug makers can start making the drug, prices should fall dramatically. By next fall, 2012, the price for generic … [Read more...]