One thing I’ve been researching that I’ve not seen you comment on, except in passing, are the differences between Part D prescription plans and MAPD (Medicare Advantage Plans that have Part D embedded in them). The more I investigate this, the more complicated it looks, with the obvious danger being the top tier drugs and what they cost in the various coverage stages.
I went into my Doughnut Hole in August this year and my co-pays went way up. Can I avoid that next year by moving to another Part D or Advantage Plan for 2021?
Advantage Plans can be a great way for Medicare beneficiaries to insure themselves. My agency has over 2,000 active clients with HMO’s or PPO’s and we’ve enrolled thousands of others since I opened in 2008.
“The MOOP is going to as much as double next year for many on Advantage Plans. We’re talking about some people being exposed to $4,000 more in medical bills in 2021 than they were this year.
Two available Advantage Plan companies will be offering HMO plans for the 2021 that are specifically designed for Veterans. These plans do not disturb existing VA access and coverage while providing an opportunity for substantial savings, additional choices of where they can access care, as well as benefits most Veterans don’t receive such as comprehensive dental, Over the Counter (OTC) allowances, and free gym memberships.
I’m already 65 and retiring in April of next year. Do I have to enroll in Medicare
Part B and make my plan selection during the Annual Election Period that starts in October?
Does the Medicare Donut Hole start at the same dollar amount regardless of which Part D prescription insurance you are enrolled in? Also, I thought it was scheduled to go away in 2020. Was I mistaken?
Question from Bobbi: I turned 65 on November 10, 2019. Since then my health care policies have been a nightmare. What I would like to know is, if what I am doing is the best way to go and are you able to take over what I do have? Also am I compliant with Medicare rules and guidelines?
From Julie: In your last column you mentioned “total cost of ownership,” which I had never heard before. Can you explain that a bit more as it pertains to Medicare plans?
Question from Theresa: I just got notice my Supplement plan premiums are going up again, over $20/month. They rise every year and seem like the increases just keep getting larger each time. What are my options?