News: Medicare Prescription Drug Gap (Donut Hole)

Medicare Update: In 2012, if you hit the prescription drug donut hole or gap, you will get a 60% discount on brand-name drugs. Every year thereafter, you will pay less for your prescription drugs in the donut hole/gap, until there is complete coverage in 2020. … [Read more...]

Medicare Plans: Income-Based Part D Premiums

Starting January 1, 2011, Part D premiums will be based on your income. This includes Part D coverage you have from a Medicare Prescription Drug Plan, a Medicare Advantage Plan or a Medicare Cost Plan that includes Medicare prescription drug coverage. If your modified adjusted gross income, as reported on your Internal Revenue Service tax return from two years ago, (the most recent tax return … [Read more...]

Medicare Advantage: Changes Per Recent Healthcare Reform Bill

One issue that is of interest to senior citizens is how the bill affects the Medicare Advantage. Unless you have been hiding under a rock for the last couple of years, you probably already know that there have been some major changes in health care in this country. Mostly this has to do with the Healthcare Reform Bill that has recently passed through congress. Needless to say, there has been a … [Read more...]

Medicare News: Medicare Prescription Drug Rebate

If you are a senior citizen, then you already know that Medicare prescription drug plans tend to be a complicated issue. For one, there are various kinds of Medicare plans. There isn’t just one plan that is right for all senior citizens. Also, depending on what kind of money you make, what kind of social security you have, and what kind of taxes you have paid, you may even have to supplement your … [Read more...]

Medicare News: Under Medicare Advantage Senior Out of Pocket Costs Increase

An official from the Centers for Medicare and Medicaid Services (CMS) recently provided new analysis that shows seniors may have to spend more money for Medicare Advantage programs beginning next year as a result of provisions in the health care reform law. Richard Foster, the chief actuary for CMS, told Senate Republicans in a letter that the health care reform law will result in "less generous … [Read more...]

Medicare News: SEP – Special Election Period

Are you one of the 236,000 Private Fee for Service members, nationwide, that are losing your coverage? You now qualify for a SEP (Special Election Period). Medicare Advantage members losing their Private Fee for Service (PFFS) coverage, or other Medicare Advantage program that is leaving the area, are eligible for a SEP (Special Election Period) which allows them to move to another carrier right … [Read more...]

Medicare Advantage: Annual Election Periods Change for 2011

Medicare Advantage plan Election Periods are changing for the 2011 calendar year. The 45-day period from November 15th through December 31, 2010, the Annual Election Periods (AEP), hasn’t changed. Beneficiaries can enroll or dis-enroll from a Medicare Advantage plan during this time period. However, the Annual Dis-enrollment Period, where persons already in a Medicare Advantage plan, may … [Read more...]

Medicare News: Spending too much on Out Of Pocket Expenses?

Are You Spending Half Your Income On Out Of Pocket Expenses? Imagine spending over half of your annual income on health care services each year. The Medicare program is a program that will pay for health care services for adults 65 years of age or older, or individuals with disabilities. This health care program will pay for a portion of inpatient and outpatient services. This program typically … [Read more...]