Tag Archives: medicare insurance plans

Part D Drug Plan Penalty

In helping seniors select a Part D Drug plan (PDP), I find a lot of people are confused about the Part D Penalty.  In short, it is a penalty for those that don’t elect a PDP when they are eligible and don’t have other Creditable Drug coverage.  While Medicare will not require anyone to enroll in a PDP, they will assess a penalty of 1% for every month they didn’t have coverage.

For more info on what the penalty is and how it works, you can go to the link below that explains in more detail at Medicare.gov.

http://www.medicare.gov/part-d/costs/penalty/part-d-late-enrollment-penalty.html

For questions about selecting a Medicare Plan, call David Higgs at 804-972-4997 or email: David@ChoicesInMedicare.com.

 

Medicare Coverage Helps with Preventive Care

While Medicare offers great options for more comprehensive coverages, Preventive care is one that is often overlooked.  Prevention is the best way to insure overall health.  Medicare has 2 categories of Preventive care:  “New to Medicare” and Yearly “Wellness” Visit.  To learn more about these types of services, you can go to the link listed below.

http://www.medicare.gov/coverage/preventive-visit-and-yearly-wellness-exams.html

How Difficult is it for Medicare Beneficiaries to Find a Doctor?

One of the more common questions I get from my Medicare Plan clients is regarding their ability to find a doctor who accepts Medicare.  For those that elect Original Medicare and may have a Medicare Supplement, the answer is good news.  Even though there are many news reports that make it seem like doctors are not accepting Medicare, I found data that shows that 91% of doctors accept new Medicare patients on a national average.  I find that it is even higher for patients who continue to see their current doctor.  The data showed that only about 1% of doctors have “opted out” of Medicare.  I searched the internet and the best data I could find was from an article about a year and a half ago that used data collected in 2012.  I will try to keep my clients updated as new data is made available.  If you want to read more about the study, click on the link below.

http://kff.org/medicare/issue-brief/medicare-patients-access-to-physicians-a-synthesis-of-the-evidence/

Don’t Be Bashful Asking Doc About Lower Cost Drugs

The federal government recently released data showing the top drugs and drug costs for Medicare Part D drug plan members.  Not surprisingly, brand name drugs lead the list.  The result is a big portion of the total drug costs go to a few name brand drugs that have generic equivalents.  What does this mean to you?  Ask your doctor if there are generic alternatives that you could use.  It could save you a lot of money.

For more details, go to the article linked below.

http://www.npr.org/blogs/health/2015/05/01/403506160/brand-name-medicines-dominate-medicares-103-billion-drug-bill

Medicare Finally To Stop Using Social Security Numbers as ID

You may have heard about the new Medicare “Doc Fix” bill.  You may not have heard they included a change to Medicare Claim numbers.  In short, they will eventually stop using the Social Security number as the key Medicare ID number.  This change will take up to 4 years to change newly issued cards and up to 8 years to replace existing member cards.  This will be a good change.  Read more about it by clicking the link to the article below.

http://www.nytimes.com/2015/04/21/us/new-law-to-strip-social-security-numbers-from-medicare-cards.html?ref=topics&_r=0

It Is OK to Ask Questions About Medical Procedures

According to a recent article in the New England Journal of Medicine, there are a lot of tests being done that may not be necessary.  If you are healthy, they may not be necessary.  Take a look at the article linked below to read more.  David.

http://www.seattletimes.com/nation-world/study-needless-tests-given-to-medicare-cataract-patients/

Bipartisan Effort to Fix Medicare Doc Payments

There is a rare, ongoing bipartisan effort in Congress to permanently fix the payment problem for doctors treating their Medicare patients.  In short, it will change the payment formula to stop the reductions by two primary methods.  One is to enact an income based adjustment for high income earners and Two, consider a deductible for Medicare Supplement policies.  Stay tuned for more info.  The link below describes current status in more detail.

http://www.politico.com/story/2015/03/medicare-doctors-john-boehner-nancy-pelosi-116097.html

President Obama’s Budget affect on Medicare

President Obama’s recent budget proposes to save $399 Billion out of Medicare and Medicaid over the next 10 years.   The bulk of the cost savings will affect Medicare beneficiaries in several ways.  It will cut the amount paid to providers, introduce new copays, impose a surcharge on certain Supplement Plans and reduce the amount paid to insurers of Advantage plans which would increase the cost to consumers.  A link follows to an article with more information.

http://www.nytimes.com/2015/02/03/us/politics/under-obama-budget-many-medicare-recipients-would-pay-more.html?ref=topics

Medicare Coverage, Hospital Stay Status and Skilled Nursing Care

Medicare beneficiaries who have a hospital stay need to be aware of whether the stay is considered Inpatient or Observation.  The difference determines whether or not a follow up stay at a Skilled Nursing Facility will be covered by Medicare.  The following link is an article that describes how legislatures are trying to address this growing problem.  http://www.richmond.com/life/health/article_9644c6f8-ae4a-5f3a-a1d0-267fc2015327.html