Tag Archives: 2020 medicare changes

Medicare and Telehealth During Covid-19

Telehealth has been around for a while but has recently become  very popular due to Coronavirus concerns.  If you are not familiar with Telehealth, it is basically a doctor visit by video.  People can “visit” with their doctor virtually.  The key benefit during this period is to avoid coronavirus contact for both patient and medical staff.

One big difference is most health insurance plans, including Medicare, will now cover Telehealth services.  Most doctors’ offices are also now able to offer Telehealth.  If interested, people should check with their health plan and doctor’s office to confirm participation.

If want to learn more, a link to an interesting article follows:  https://www.pressofatlanticcity.com/news/local/medicare-expands-telehealth-to-help-keep-seniors-safe-savvy-senior/article_2ac9308a-e337-53f2-973b-62b1b27f4ce0.html

If you have questions about your Choices in Medicare, please contact me at David@ChoicesInMedicare.com or go to www.ChoicesInMedicare.com

IRMAA and Medicare

In many of my client meetings, the term IRMAA comes up.  It stands for Income Related Monthly Adjustment Amount.  A lot of times, it can be avoided but many times it “is what it is”.  What is it?  Most people pay a monthly premium for their Medicare Part B. which this calendar year is $144.60/month.   Higher income folks pay more.  The first threshold (of several) to be subject to Irmaa begins at $174,000 for joint filers and $87,000 for single filers on their 2018 tax return.

The good news is that there are several valid reasons one can appeal and be successful.  One of those is if one is retiring and will have a reduced income.  This is what most people are doing when they decide to go to Medicare.  The appeal form can be downloaded and filed at no cost.

I help people understand and navigate Irmaa most days.  Feel free to call if any questions regarding Irmaa or Medicare.  I came across a recent article that provides more detail on Irmaa and you can access via the following link.

https://www.richmond.com/business/kiplinger-s-personal-finance-how-retirees-can-avoid-a-medicare/article_6998b2f3-6ec0-539f-bbe8-9a2f06329aa4.html

If you have questions about your Choices in Medicare, please contact me at David@ChoicesInMedicare.com or go to www.ChoicesInMedicare.com

New 2020 Medicare Costs At A Glance

New 2020 Medicare Costs at a Glance

Happy New Year!  As I do every new year, I wanted to post the key, new Medicare numbers that will be in effect for 2020.   These are the key changes to Medicare’s premiums and coverages.  A highlight is the average costs for Part D drug plans have gone done and the infamous “Donut Hole” (aka Coverage Gap) name no longer applies as costs for people who do reach this stage now only pay 25% of the cost for Brand or Generic drugs.

  • Part A deductible – Will be $1408 up from $1364 (per 60 day Benefit Stay)
  • Part B Deductible – Will be $198 up from $185 (Annual deductible)
  • Part B Premium – Will be $144.60 up from $135.50 (Excluding Irmaa)
  • Part D Maximum Deductible – Will be $435 up from $415 (Some plans don’t have a deductible)
  • Part D Premium National Average – Will be $32.74 DOWN from $33.19 (Is used to determine Part D Penalty)

Feel free to contact me if you have any questions or need assistance with selecting a Medicare Plan.  I don’t charge any fees nor increase your cost.

Based in the Richmond, Va area, David Higgs of Choices In Medicare specializes in helping seniors transition to Medicare.  He can be reached at email:  David@ChoicesInMedicare.com or go to website:  www.ChoicesInMedicare.com

No More Plan F and MACRA

Many of my Medicare clients ask about the news they have heard about Plan F Supplement going away.  While that is the gist of what is happening, let me clarify a little more about this change.

Almost 4 years ago, a new federal law (MACRA) announced that effective Jan 1, 2020, first dollar Part B coverage would be phased out.  Certain Medicare Supplement Plans (aka Medigap policies) such as Plan F pay the Part B deductible which is $185 in 2019.  The new law will mean those Supplements cannot be offered to Newly Eligible Medicare beneficiaries on or after Jan 1, 2020.  This means a few things.   Beneficiaries that already have a Plan F Supplement can keep it.  If beneficiaries who are not “Newly Eligible” have a different Supplement plan, they can still apply for a Plan F (assuming they are healthy enough to medically qualify).  Those that are Newly Eligible on or after Jan 1, 2020, will not be able to get a Plan F or similar.

In spite of all that, most of my clients do not select a Plan F.  This is primarily due to cost and coverage differences to other Supplement Plan letters.  Feel free to call if you have questions about this.

If you want to learn more about this topic, the link below will direct you to more details:  https://www.naic.org/documents/cmte_b_senior_issues_related_macra_faq_2018.pdf#page=5

Based in the Richmond, Va area, David Higgs of Choices In Medicare specializes in helping seniors transition to Medicare.  He can be reached at email:  David@ChoicesInMedicare.com or go to website:  www.ChoicesInMedicare.com