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Medicare Coverage Gap - How To Avoid The Medicare Part D Donut Hole
 
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Avoiding the Medicare coverage gap starts with enrolling in the right Medicare Part D Plan. This video shows you how to avoid or at least delay getting into the Part D donut hole. Get instant access to my 8 Part Video Mini-Course and unlock information to choose the most suitable Medicare Plan. http://free-mini-course.com The Medicare Part D coverage gap may seem harsh, but you can avoid or delay the coverage gap by choosing the right Part D plan for your circumstances and following some simple steps. The Medicare Coverage gap is determined by the Part D Standard Benefit Model. This model, developed by CMS determines how all Medicare Part D plans will work. The maximum allowed Part D deductible, initial coverage limit (when you reach the donut hole), the out-of-pocket threshold amount (when you exit the donut hole) and catastrophic cost-sharing amounts are set annually. For 2014 plans, you will reach the Medicare coverage gap when you and your plan have spent $2850. Once in the Part D coverage gap, you will be responsible for the next $4550 in drug costs. You will have a little help from ObamaCare. The Part D donut hole will gradually close by 2020. In 2014 you will receive a 52% discount on generic drugs and will pay no more than 72% for brand-name drugs while in the donut hole. Watch: Medicare Part D -- 5 Things to Know Before You Enroll in a Part D Plan - http://www.youtube.com/watch?v=OKro0RdqHSU How to avoid the Medicare coverage gap: Compare Part D options every year. Plans are annual and costs, benefits and covered drugs can change each year. Use a drug look-up tool. Compare tier placement for each of your prescriptions. Speak with your provider for less expensive alternatives. Use preferred pharmacies. Take advantage of your plan's Part D mail order program. Continue to show your card, even if you are in the Part D coverage gap.
Views: 7422 David Forbes
Medicare Part D - 5 Things To Know Before You Enroll in a Part D Plan
 
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Call (888) 310-0376 to Compare all Medicare Part D Plans in Your State. Get Instant Access to my Medicare mini-course. Visit: http://medicare-mini-course.com In this video I explain 5 things you should know about Medicare Part D before you enroll. There have been significant changes to the Part D program since its inception in 2006. Visit http://affordablemedicareplan.com and get access to hundreds of articles on Medicare Part D, Medicare Advantage and Medicare Supplement insurance. There have been changes to enrollment periods, how premiums are calculated as well as adjustments to the Standard Benefit Model. Some things haven't changed such as who is eligible to join and how plans work. Here are 5 things you should know about the Medicare Part D program and Part D plans in particular. One. You need to know what Part D is and how it works. So what is Medicare Part D? Part D is optional prescription drug coverage for Medicare beneficiaries who are enrolled in both Medicare Parts A and B. Although Part D is optional, you should enroll when you first become eligible or potentially be subject to the Part D penalty which will have an impact on what you pay for as long as you are enrolled in a plan. Part D is offered by private insurance companies and is not part of original Medicare. Plans are offered by service area and you must live in a service area to be eligible for a plan. You can get Part D in one of two ways; you can enroll in a stand-alone plan (PDP) or you can enroll in a Medicare Advantage Plan that includes drug coverage. Plans are effective for one calendar year. Two. Understanding the terminology of Part D is important. Medicare Part D Premiums -- Premiums are paid monthly and have ranged in the low to mid $30 range for the past few years. Part D Deductible -- The deductible is the amount you may be required to pay prior to your plan paying a share of prescription drugs. Part D copayment / Coinsurance -- This is the amount you pay at the pharmacy. Drugs are place in tiers and normally a plan has four or five tiers. Initial Coverage Limit -- This amount is set annually by Medicare and will be the same for all plans. It is the amount both you and your plan will pay prior to you reaching the Part D coverage gap. Medicare Part D Donut Hole -- This is the coverage gap that you may enter if you exceed the initial coverage limit. Part D Catastrophic Coverage -- This phase is reached after you have spent a fixed amount in the Donut Hole, currently $4750. During this phase you will pay very small copayments or coinsurance amounts for your drugs. Third. You should understand the Medicare Part D enrollment periods. There are 3 types of Part D enrollment periods. When you first become eligible you have a seven month window to submit an application. If starts three months before the month you turn 65 or if you will receive Part D due to a disability it will start 3 months prior to your 25th month of disability. The Part D Annual Election Period is the time to compare Part D Plans because you are able to switch, drop or enroll in a plan. Part D Special Enrollment Periods are time that you can enroll in a plan, normally due to a change in your individual circumstances. Such as, moving from a plan's service area or losing other creditable drug coverage like from an employer or union (including (COBRA). If you live in a nursing home you also are entitled to a Special Enrollment Period. The 5 Star Special Enrollment Period allows you the opportunity to switch into or enroll in a 5 Star-rated plan once per year. Plans are rated from one to five stars by Medicare and are a reflection of the experience people who have been in enrolled in the plan have had. You are allowed to enroll between December 30th and November 8th. If you qualify for Medicare extra help you can change plans anytime. Fourth. You must know how to conduct a thorough comparison of Medicare Part D plans. You can see all available plans for your service area at the Medicare Plan Finder at medicare.gov. But don't choose a plan based on premium alone. There's a lot more to plan cost than the monthly premium. Start your search for the best plan by exploring the Medicare Part D formulary for each plan. The formulary is the list of drugs which are covered by a plan. There is no universal Part D formulary, each plan will be unique. Formularies are either Basic or Enhanced. Making sure all your drugs are covered is your number one goal. Also compare: Plan Deductibles Copayments and Coinsurance amounts Pharmacy Networks Part D Mail Order benefits Fifth. You should be aware that your Part D premium may not be what is published at medicare.gov. Premiums are now tied to your annual income. If you qualify for Medicare extra help, you may pay $0 premiums, but if you earn over $85,000 as an individual or over $170,000 filing jointly, you are going to pay more.
Views: 181733 David Forbes
Medicare Part D 2018 (Prescription Drug Coverage)
 
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Medicare Part D 2018 (Prescription Drug Coverage) 844-528-8688 Get Free Medicare Academy Video Course: https://mymedicaresupplementplan.org/medicare-academy-enrollment/ Call 1-844-528-8688 for FREE quote on your Medicare Supplement Medicare Part D has several moving parts, there is a premium, deductible (with some plans) and copay of some sort for your drugs after the deductible. You can get all the details here https://youtu.be/oKHq3H1IkF0 Every plan has different prices and costs but the main components are the same and the cost of the donut hole or coverage gap is universal across all Medicare Part D 2018 (Prescription Drug Coverage). The amount of the different stages are all set by Medicare and change every years. In 2018 Medicare Part D Plans the donut hole is less than in 2017 and that should continue for the next few years. You must remember that the amount of money spent during the initial phase is what you AND the Medicare Part D Plan spend. After that the amount spent to get out of the coverage gap is only what you spent (called True out of pocket), it has nothing to do with what the prescription drug plan has spent. _________________________________________________________________ **Dont miss a single Medicare Supplement video Click Below to SUBSCRIBE** https://www.youtube.com/channel/UCpeawY2B_hUuZhV26QAwRuQ?sub_confirmation=1 _________________________________________________________________ Loran Marmes Medicare Solutions Team https://medigapinfo.net/ Facebook: https://business.facebook.com/medicaresolutionsteam
Views: 1223 Medigap TV
Medicare Part D: The Donut Hole and How Drug Plans Work
 
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My Website: http://www.medicarescreenshare.com Contact Me: MedicareScreenShare@gmail.com Now lets talk about the most popular pastry in Medicare the donut. Stay Tuned… A donut is used to represent how most drug plans work on part D of medicare… Now every plan is different but you can expect most drug plans to work like this… So as you can see you may need to pay a $400 yearly deductible before your plan pays anything. After that you will need to pay a copay and coinsurance for your drugs. I have used 25% coinsurance in this example but this is different from plan to plan and from drug to drug. But to keep it simple in this example you pay 25% of the drugs cost and the prescription drug company pays 75% until you and the insurance company together have paid a total of $3,700. This is when you reach the donut hole or the coverage gap. In this gap you will be responsible for paying 40% for brand name drugs and 51% of generic drugs. Now when you and the insurance company have paid a total of $4950 you move into catastrophic coverage. This is when the government steps in and helps out the insurance company. You are then only responsible for 5% of drugs cost from this point until the end of the year. Check Plan Every Year: Now part D plans are run by medicare-approved private insurance companies and you pay a premium to lower the cost your prescription drug coverage. Every plan has a list of covered drugs or a Formulary. So, They put drugs into different tiers and have different cost for each tier. Now these companies can change their formularies each and every year so it is important to alway check to see if you are on the lowest cost plan for the drugs you are currently taking. Make sure to check out my other video about how to go online and look up the best plan for you soon as this video ends. And as always please like, comment, and subscribe to my channel so I can help more people. Andrew Walsh MedicareScreenShare Owner and Independent Agent (920) 960-4312 MedicareScreenShare@gmail.com MedicareScreenShare.com Title: Medicare Part D: The Donut Hole and How Drug Plans Work
Views: 2034 Andrew Walsh
Understanding the Coverage Gap (Donut Hole)
 
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What You Should Know About the 4 Stages of Part D Coverage
Views: 12379 SilverScript PDP
Medicare Part D Donut Hole
 
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The "Donut Hole" is a gap in coverage for prescription drugs for people on the Medicare, Part D program. The new health care law will help close this coverage gap which is a problem for many seniors. This short info-graphic video explains what the Medicare Part D donut hole is and how it changes under health reform.
Medicare Part D | Easy Steps to Find the Right Part D Plan
 
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https://www.remedigap.com | 888-411-1329 Medicare Phone Number: 1-800-633-4227 www.medicare.gov Dealing with the thought of Medicare Part D might seem overwhelming, but today I’m going to show you how easy it is to find the right Part D plan using Medicare’s Plan Finder Tool. So, why is it important to use Medicare’s plan finder tool, instead of just buying the Part D plan your friend, spouse or neighbor uses? Well, there are more than 20 part D plans available and they’re not a one size fits all type of insurance coverage. Just because your friend’s plan works well for them, doesn’t mean it will work for you and your medications.The point is to find a Part D plan that covers your existing medications for the least amount of money. And, thankfully, The Plan Finder tool provides you with an annual estimate of costs based on your medications..so you can make an informed decision about your Part D Plan. To learn more about Medicare, sign up for my free Medicare eCourse -- you learn on your schedule. I cover all the parts of Medicare, enrollment periods, deadlines, penalties, Medicare Supplement insurance and more. Our Medicare eCourse can be found by clicking on the link below: https://www.remedigap.com/ecourse/
Views: 17828 REMEDIGAP
What is the Medicare Part D Coverage Gap?
 
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The Medicare Part D Coverage Gap, or “Donut Hole,” can be confusing. SilverScript® Insurance Company can close that knowledge gap and help you understand what the four Medicare coverage stages are and how they can affect your Medicare Part D costs. This video provides more information on the four Medicare coverage stages, including the Annual Deductible Stage, the Initial Coverage Stage, the Coverage Gap and the Catastrophic Coverage Stage. For more information on Medicare and Medicare Part D, visit SilverScript.com. http://www.silverscript.com/learn/learn-enroll.aspx This information is available for free in other languages. Please call our Customer Care number at 1-855-275-6493 (TTY: 1-866-552-6288), 24 hours a day, 7 days a week. Esta información está disponible gratuitamente en otros idiomas. Llame a nuestro Servicio al Miembro, al 1-855-275-6493 (teléfono de texto (TTY): 1-866-552-6288), las 24 horas del día, los 7 días de la semana. SilverScript is a Prescription Drug Plan with a Medicare contract offered by SilverScript Insurance Company. Enrollment in SilverScript depends on contract renewal
Views: 9656 SilverScript PDP
Medicare Part D
 
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https://www.kimsnider.com - What is Medicare Part D? Medicare Part D is optional, prescription drug coverage. It helps pay for out-patient prescribed medications. Part D is sold by private companies that are approved by Medicare. - Am I eligible for Part D Coverage? If you have Medicare Part A and Medicare Part B, you are eligible to get prescription drug coverage through an individual policy or as part of a Medicare Advantage plan. - Do I need prescription drug coverage? If you have original Medicare (Part A and Part B) or a Medicare Advantage plan that does not include drug coverage, you should get a Part D prescription drug coverage policy when you are first eligible - even if you don't take a lot of medications. Unfortunately, our health is not guaranteed. As we age, it's likely that we will have an increased need for prescription medications. Prescriptions are very expensive - expensive enough that prescription drug coverage probably makes sense. Again, don't wait. If you wait to get coverage, you will have to pay a penalty, which results in a permanent increase in your monthly premium.
Views: 84303 KimSnider
No Donut Hole Medicare! www.NoDonutHole.com
 
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http://www.nodonuthole.com Some of the sock puppets cast help shed light on the Donut Hole in Plan D of Medicaid. Remember, no American should have to sacrifice his or her life-saving prescription medications because they can't afford them. Song Tango played by Sean for Not Equal the soundtrack.
Views: 4512 murphytime
Silverscript Part D vs. Humana vs. AARP & Other Medicare Prescription Drug Plans
 
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Call 1-800-892-7981 or visit http://medicarefriend.com/ Hi there, I'm Glen with the Medicare friend. I have given advice to thousands of folks that are turning 65 and getting onto Medicare for the first time, and what I tell them is conveniently located below for you: Silverscript Part D vs. Humana vs. AARP & All Other Medicare Prescription Drug Plans You're getting ready for Medicare and you are wondering how in the world are you going to get your prescriptions covered and everybody is starting to mail you stuff. Silverscript and AARP and Humana- Humana is so hot right now! AARP is the one that your sister or brother or friend or mother or neighbor has and they love it so is that the best one for you? The correct answer is Maybe... Here's why- unlike Medicare supplements that are all standardized and have to offer identical benefits- Medicare Part D prescription plans can be very different. Each of these Insurance Companies gets to decide how much your specific prescription that you're taking is going to cost. Here's where it gets a little shifty- if a company is boasting that they have a $0 deductible that doesn't mean anything because they may have a much higher co-pay then the next one. And the company with the higher deductible could say that your prescriptions are in a lower-tier on their formulary. And ultimately you would end up paying less for the company with the higher deductible. Better yet some companies with high deductibles can say for your prescriptions, the deductible doesn't apply to them in the first place. And best of all some of the part D plans offer free 3 month supply prescriptions through the mail order. Each person that our team helps gets a thorough analysis on medicare.gov so they will know to the penny what they will pay on one plan versus another. So you can make sure you have the Best Plan! And another nice thing is every year we revisit this with you and make sure you are still in the Medicare Part D plan that saves you the most money overall. So if you get more prescriptions later, you're not stuck, you can switch to a plan that covers your new prescriptions the best. Call us now for a free consultation- We make this SO Easy for you! Talk to you soon. Here at the Medicare friend, we shop the entire market for you, because all we want is to see you happy, with great coverage, and keeping as much money in your pocket as possible. We have NO OTHER MOTIVATION than to give you the best of the best. Call us now or visit us at Medicarefriend.com to schedule a free consultation. Watch this video as well about finding the right Prescription Drug Plan: https://www.youtube.com/watch?v=00L_u7mGMPY&list=PLTdiZbMaqckKnSydt7Z_ROR4bUynHY9vl&index=3 Remember to subscribe to our channel for more valuable information. You can first visit our channel at: https://www.youtube.com/channel/UCoh8cpq6xjK567cg6pJ2Fng Visit our playlist: https://www.youtube.com/playlist?list=PLtQT-O3RJCf-1f-ObY4bzfQxso4LGkE4P Also searched: silverscript part d formulary Humana medicare drug plan affordable
Views: 2525 The Medicare Friend
MEDICARE PART D PLAN - Prescription Drug Donut Hole - OUCH!
 
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http://www.FirstMedicareAdvisors.com - - Recorded Hotline: 1-800-958-8171 - Office: 1-800-825-2919. - - Email: info@firstmedicareadvisors.com - - PS: No Sales Pitches Ever! We hate'em as much as you do! We are going to be talking about the Medicare Part D Prescription Drug Plan and the Donut hole. I would suggest you pause this video for a moment and grab a pencil and some paper so you can take some notes. This time of year, we start receiving more and more phone calls from people who have reached the donut hole for Medicare Part D and may need a refresher on what it is all about. Entering the donut hole is not a function of time, but rather a function of expenses. You will reach the donut hole - also known as coverage gap - when the amount of money you have spent, plus what the insurance carrier has paid on your behalf, reaches $3,700.00. Important Note: All the figures and percentages mentioned in this video will keeping change each year. The donut hole is also referred to as the coverage gap, but that term is becoming less and less appropriate. Coverage gap implies that you do not have coverage. That is not the case. Coverage inside the donut hole - or coverage gap - is increasing each year. While you are in the first phase of coverage, you simply pay a co-pay for your prescriptions based on what tier the drug is in. Once you are in the donut hole, instead of paying a co-pay, you pay a discounted amount of the cost of the drug. Last year you reached the donut hole at $3,310, this year at $3,700. You will get out of the donut hole when what you have spent out of your pocket totals $7,425. Please note, getting into the donut hole looks at your expenses plus that of the insurance carriers. Getting out of the donut hole looks only at your expenses. Last year you will get out of the donut hole at $7,310. Last year, when you were in the donut hole, you received a discount of 55% off your brand drugs, and 21% off your generic drugs. This year the discounts are 40% off your brand, and 51% off your generic. As the discounts inside the donut hole increases, your liability inside the donut hole decreases. The donut hole is slated to close entirely, but not until 2020. Our first suggestion to clients who are in the donut hole do some comparison shopping. Your coverage in the donut hole is a discounted amount based on the original cost of the drug. You will now pay 45 % of the expense of a brand drug, and 58% of the price of a generic. Prescription prices can vary. I would suggest you call several pharmacies in your hometown and inquire as at the cost of some of your prescriptions. You may be surprised by what you hear! If you are paying 45 % of the expense of a drug, it makes more sense to start with the lowest price possible. The next suggestion we can offer is to speak with your doctor about the possibility of generics. Only you and your doctor can make decisions about what is best for you. The final suggestion we can offer for those of you who have entered the donut hole already is to mark your calendar now for open enrollment. Open enrollment for Medicare Part D runs from October 15 through December 7. This is the only time of the year you can change Part D plans. Perhaps another carrier or plan design would be more cost effective for you for the coming year. You cannot change plans now but may be able to find something more efficient for next year. Give us a call for help about your Medicare supplement or drug coverages. Our number is 1-800-825-2919. You’ll get an answer to point you in the right direction. Or, if you prefer, give our office a call on our Recorded Hotline. That number is 1-800-958-8171. Then record your question or request, and we’ll get back with you. If you’re not comfortable with calling - send us an email to info@firstmedicareadvisors.com. Or, you can visit our website: http://www.First MedicareAdvisors.com.
Views: 41 Dale Stringer
Medicare Part D Without A Premium - Can You Really Get Free Part D?
 
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Did you know that you may be able to get Medicare Part D without paying a monthly premium? This video will address that and explain why putting too much emphasis on the Part D Premium may not be your best move. Visit the Medicare Plan Review website and get information on Medicare Advantage, Medicare Part D and Medicare supplements. http://affordablemedicareplan.com There are two ways to get Medicare part D without a premium. The first is income based. If you are dual-eligible or qualify for extra help, you may not pay a premium. The second way is to enroll in a Medicare Advantage Plan without a premium that includes Part D coverage. You may or may not have a $0 premium Medicare Advantage Plan available in your service area. If you get your medical coverage through original Medicare, with or without a Medicare supplement, you will need to enroll in a stand-alone Part D plan. Plans average just above $30 per month. Don't put too much emphasis on the Medicare Part D premium... it's not the most important factor to consider when you are comparing Part D plans. Review the Medicare Part D formulary to make sure all your prescriptions are covered... that should be your number one concern. Beyond that, also consider: Your medication's tier placement The deductible amount What you'll pay to get your prescriptions Whether there is coverage in the Medicare Part D donut hole Learn more about Medicare Part D -- http://www.youtube.com/watch?v=OKro0RdqHSU Watch: Medicare Part D -- 5 Things to Know Before You Enroll
Views: 3876 David Forbes
3 Tips to Save $ on Drugs with Medicare Part D
 
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http://www.abtinsuranceagency.com (888) 465-9728 Find Free Coupons at: http://www.goodrx.com Apply for Extra Help with Part D Drug costs at: https://www.ssa.gov/benefits/medicare/prescriptionhelp/ Find Pharmaceutical assistance programs: https://www.medicare.gov/pharmaceutical-assistance-program/ Many folks who are turning 65 or getting onto Medicare for the first time find that the overall health coverage they experience as a Medicare beneficiary is more robust, and often less expensive than the health insurance coverage they had prior. But often times people are surprised to learn that they will actually pay MORE for their medications when they are on Medicare. Medicare drug coverage can be obtained either through a stand alone Part D drug plan, or through a Medicare Advantage Plan that includes Part D drug coverage. Every year, Medicare has a set formulary, or list of drugs that all Medicare Part D drug plans must cover. Aside from that, plans can differ in which medications they include in their particular formulary. Medicare has no “cap” on your out of pocket drug costs, and if you’re taking expensive medications you may fall into the “donut hole” or coverage gap. This means that when you reach a certain spending threshold, you’ll be responsible for a greater portion of the cost of your drugs. If you find that your Medication costs are getting too expensive, there are a few alternatives I like to recommend. 1. Pay cash without using your insurance card, and use coupons for discounts. My favorite website to recommend is goodrx.com — this site will let you know which pharmacies in your areas have the lowest prices for certain medications, and the site provides free coupons for many drugs as well. If you are at a risk for or close to reaching the Medicare “donut hole” this year, sometimes paying cash for some your less expensive generic medications can help you avoid the coverage gap. 2. Apply for Extra Help through the government. Certain Medicare beneficiaries can qualify for Extra Help with their Medicare prescription drug plan costs. This Extra Help is estimated to be worth about $4,000 per year. To qualify for the Extra Help a person must be receiving Medicare, have limited resources and income. In 2018, in order to qualify for extra help your combined savings, investments, must not be worth more than $28,150 if you are married, or $14,100 if you are not currently married or not living with your spouse. Resources like your home and your car don’t count toward this qualifying amount. To apply for extra help, you can go online to ssa.gov, or call social security at 1–800–772–1213. 3. Look into Co-pay cards, or Pharmaceutical assistance programs. Many pharmaceutical companies offer financial assistance programs for the drugs they manufacture. For folks talking expensive specialty medications for chronic conditions, you can often save thousands of dollars on your medications if you qualify. Qualification criteria will vary based on the drug manufacturer. To see if you qualify, visit https://www.medicare.gov/pharmaceutical-assistance-program/. Lastly, many folks tend to go on auto pilot when it comes to their stand alone Part D coverage. It is so important to shop your Part D drug plan annually during the Medicare Annual Election Period, which runs every fall from Oct. 15th — Dec. 7th. Each year your Part D Plan benefits can change, the formulary and tiers can change, and it’s important to review your policy annually to maximize your savings. Please feel free to call with questions at anytime - (888) 465-9728, or email stephanie@abtinsuranceagency.com
Part D (Prescription Drug Plan) of Medicare: 2015 and 2016 Overview with Example
 
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Provides an overview of the 4 tiers of Part D Prescription Drug Coverage (Deductible, Initial Coverage, Coverage Gap aka Donut Hole, and Catastrophic Coverage). Includes 2015 and 2016 overview for values in each phase of Part D coverage. Also includes an example for an individual that almost selected the wrong card and would have spent $8,000+ more than he should have on his drugs. For FREE help finding a Medicare plan, go to www.senior-advisors.com or call 1-908-272-1970.
Views: 2648 Senior Advisors
Medicare Part D Prescription Plans, do I get coffee with the donut hole?
 
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You’re turning 65 and concerned about Medicare Benefits. This series is titled, Medicare, What's it All About? This is video 3 of 3, “Part D Prescription plans, do I get coffee with the donut hole”. Part D is prescription drug coverage that is offered through private Medicare-approved insurance companies. Every Medicare Prescription Drug Plan has its own list of drugs, called a formulary, for which it will provide coverage. A formulary is divided into different tiers according to the cost of the drug: drugs on a lower tier will generally have lower copayments than drugs on a higher tier. As Parts C and D are provided by private insurance companies, the monthly premiums of these policies depend on the extent of their coverage and can vary between companies. However, although the cost varies from plan to plan, the payment structure for Part D often can create a gap in coverage. Essentially, you pay monthly premiums for Part D all year, and with most plans you pay 100 percent of your drug costs until you reach your deductible amount. After your deductible, the cost of your drugs is split between you and your plan. However, once you and your plan have spent $3,310 on covered drugs, you’ve entered the coverage gap, and now will have to pay 58 percent of the price of generic drugs and 45 percent of the price of brand-name drugs. You will not exit the coverage gap until you’ve spent out-of-pocket $4,850 (Troop – true out of pocket expenses) on prescription drugs. At that point, you will qualify for “catastrophic coverage” and will only have to pay a small copayment for covered drugs for the rest of the year. You might have heard that Medicare and Social Security referred to as entitlements. Well you earned them with all your years of hard work. They are not gifts from the government. Grab your copy of “Turning 65 – The 5 Medicare Key Tools. https://rogersnmammano.leadpages.co/t65medicare/ You’ve been bombarded with tons of material in your mailbox and on TV. The terminology can seem confusing. This guide can help you. Know when you should sign up for Medicare? Why being early is better. You have options regarding your Medicare coverage. Do you want co-pays, deductibles, and choice of doctors? Learn the following: how to enroll in Medicare. Enrollment is not always automatic. What do all those Parts and Letters mean? Who pays for what? Why you need Medicare. You may not know this but there is a perk to turning 65 and it's called Medicare. I know who would have thought that. In today’s world it's pretty good medical coverage. And in the videos we want you to learn how to maximize your benefits. Don't forget to get your Free copy of "Turning 65 - The 5 Medicare Key Tools. https://rogersnmammano.leadpages.co/65medicare/ What you need to know about Medicare. A guide, to aid you in understanding the basics of Medicare Parts A, B, C & D and a whole lot more. Frequently Asked Questions What is Medicare supplement insurance? Medicare supplement (Medigap) insurance is sold by private insurance companies and helps cover the costs that Medicare doesn't cover. Can I purchase a Medicare supplement insurance plan? You are probably eligible to purchase a Medicare supplement insurance plan if you are enrolled in Medicare Parts A or B. If you are in your Open Enrollment period, insurance companies that offer Medicare supplement plans must allow you to purchase. Open enrollment is over. What now? You may still apply for Medicare supplement insurance at the company of your choice. However, they will review your medical history and current health using their application process. How do I pay for Medicare supplement insurance? You pay the insurance company that provides you coverage. You can typically pay for your insurance monthly, quarterly, semi-annually, or annually. This cost is in addition to your Medicare Part B expense. Will my premium ever change? It is likely your premium will change with the rising cost of healthcare claims. Each year, you may be subject to both an age increase due to your birthday and an increase due to the medical claims the insurance company has to pay out for policies like yours. Does Medicare supplement insurance limit my choice of doctor? No, you may select any doctor that accepts Medicare. Does Medicare supplement insurance cover prescriptions? No, Medicare supplement insurance does not cover prescription expenses. You will need to enroll in a separate Medicare Part D drug plan for coverage.
Health Insurance Vocab - Medicare Drug Donut Hole
 
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Medicare Prescription Drug Donut Hole: Most plans with Medicare prescription drug coverage (Part D) have a coverage gap (called a "donut hole"). This means that after you and your drug plan have spent a certain amount of money for covered drugs, you have to pay all costs out-of-pocket for your prescriptions up to a yearly limit. Once you have spent up to the yearly limit, your coverage gap ends and your drug plan helps pay for covered drugs again.
Views: 1512 CLRA Group
Medicare Part D call 1-800-MEDIGAP
 
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Here are 5 things you should know about the Medicare Part D program and Part D plans in particular. One. You need to know what Part D is and how it works. So what is Medicare Part D? Part D is optional prescription drug coverage for Medicare beneficiaries who are enrolled in both Medicare Parts A and B. Although Part D is optional, you should enroll when you first become eligible or potentially be subject to the Part D penalty which will have an impact on what you pay for as long as you are enrolled in a plan. Part D is offered by private insurance companies and is not part of original Medicare. Plans are offered by service area and you must live in a service area to be eligible for a plan. You can get Part D in one of two ways; you can enroll in a stand-alone plan (PDP) or you can enroll in a Medicare Advantage Plan that includes drug coverage. Plans are effective for one calendar year. Two. Understanding the terminology of Part D is important. Medicare Part D Premiums -- Premiums are paid monthly and have ranged in the low to mid $30 range for the past few years. Part D Deductible -- The deductible is the amount you may be required to pay prior to your plan paying a share of prescription drugs. Part D copayment / Coinsurance -- This is the amount you pay at the pharmacy. Drugs are place in tiers and normally a plan has four or five tiers. Initial Coverage Limit -- This amount is set annually by Medicare and will be the same for all plans. It is the amount both you and your plan will pay prior to you reaching the Part D coverage gap. Medicare Part D Donut Hole -- This is the coverage gap that you may enter if you exceed the initial coverage limit. Part D Catastrophic Coverage -- This phase is reached after you have spent a fixed amount in the Donut Hole, currently $4750. During this phase you will pay very small copayments or coinsurance amounts for your drugs. Third. You should understand the Medicare Part D enrollment periods. There are 3 types of Part D enrollment periods. When you first become eligible you have a seven month window to submit an application. If starts three months before the month you turn 65 or if you will receive Part D due to a disability it will start 3 months prior to your 25th month of disability. The Part D Annual Election Period is the time to compare Part D Plans because you are able to switch, drop or enroll in a plan. Part D Special Enrollment Periods are time that you can enroll in a plan, normally due to a change in your individual circumstances. Such as, moving from a plan's service area or losing other creditable drug coverage like from an employer or union (including (COBRA). If you live in a nursing home you also are entitled to a Special Enrollment Period. The 5 Star Special Enrollment Period allows you the opportunity to switch into or enroll in a 5 Star-rated plan once per year. Plans are rated from one to five stars by Medicare and are a reflection of the experience people who have been in enrolled in the plan have had. You are allowed to enroll between December 30th and November 8th. If you qualify for Medicare extra help you can change plans anytime. Fourth. You must know how to conduct a thorough comparison of Medicare Part D plans. You can see all available plans for your service area at the Medicare Plan Finder at medicare.gov. But don't choose a plan based on premium alone. There's a lot more to plan cost than the monthly premium. Start your search for the best plan by exploring the Medicare Part D formulary for each plan. The formulary is the list of drugs which are covered by a plan. There is no universal Part D formulary, each plan will be unique. Formularies are either Basic or Enhanced. Making sure all your drugs are covered is your number one goal. Also compare: Plan Deductibles Copayments and Coinsurance amounts Pharmacy Networks Part D Mail Order benefits Fifth. You should be aware that your Part D premium may not be what is published at medicare.gov. Premiums are now tied to your annual income. If you qualify for Medicare extra help, you may pay $0 premiums, but if you earn over $85,000 as an individual or over $170,000 filing jointly, you are going to pay more. https://1800medigap.com
Views: 16 Jeffrey Cline
Medicare Part D - The Donut Hole
 
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This video explains how the "donut hole" in Medicare Part D, prescription coverage, works.
Views: 6898 colin meeks
What is the Medicare Donut Hole? | Humana
 
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Jim makes understanding the Medicare donut hole easy. Subscribe to the Humana YouTube Channel http://bit.ly/Humana_YouTube For 50 years, Humana, headquartered in Louisville, Kentucky, has been an innovator with a commitment to service, health and wellness. Our focus on people, choice, engagement and innovation guides our business practices and decision-making. In addition to group health plans, Humana's diverse lines of business position us to serve millions of people with a wide range of needs, including seniors, military members and self-employed individuals. Website: https://www.humana.com Facebook: https://www.facebook.com/humana Twitter: https://twitter.com/humana Google+: https://plus.google.com/+humana
Views: 2036 Humana
How To Compare Medicare Part D Plans For 2016
 
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Call (888) 310-0376 to Get Quotes on Top Rated Part D Plans. Here's how to compare Medicare Part D Plans for 2016. Pointers apply to enrolling in a stand-alone Part D plan or a 2016 Medicare Advantage plan which includes Medicare drug coverage (MAPD). Confused about your Medicare options? Get my Free 8 Part Video Mini-Course. Get Instant Access: http://free-mini-course.com When considering a 2016 Medicare Part D plan, keep in mind that the drug formulary is the key to finding the best Part D plan for your circumstances. The formulary is the list of a plan's covered drugs and which tiers they are placed in. A universal Medicare Part D formulary does not exist. All plans have their own formulary. Your goal when comparing plans is to find plans that include all your prescription drugs. Keep in mind that there are drugs that are not included in any plan formulary. If you have drugs that are not included, you will need to pay out-of-pocket or find manufacture's or community assistance programs to help cover the costs. Using a look-up tool, either at medicare.gov or a plan's website will help narrow your list of plans to consider and also give you an idea of annual costs. Because there are many factors that contribute to a Part D plan's annual costs, it's a good idea not to compare plans based on monthly Part D premiums alone. Costs are determined by; which drugs you are prescribed, Part D deductible, coinsurance and copayment amounts, Part D premium, whether there is extra gap coverage and if you reach the Part D donut hole. WATCH: Medicare Coverage Gap -- Tips to Avoid the Medicare Part D Donut Hole - http://www.youtube.com/watch?v=q83pNdCqTj8 Your goal is to find a 2016 Medicare Part D plan that includes all your medications and has the lowest cost. Once you have found suitable plans you can research the pharmacy networks and Part D mail order options. Part D plans are rated at medicare.gov with one to five stars. This Medicare star rating is based on other people's past experience with a plan and ratings may not have a bearing on which plan is best for you. The best Medicare Part D plan for 2016 is the one that includes all your drugs and has the lowest overall annual cost.
Views: 30477 David Forbes
Medicare Part D Drug Plan --- How to get the best one.
 
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Everyone will need a Medicare Part D drug plan. Should you go with Humana, Blue Cross or ont of the others. In this video I will show you how to do it on your own, With the right Medicare Drug plan you may be able to stay out of the donut hole. The best way to get a drug plan that will cover all your drugs is to go to http://www.Medicare.gov or call the Medicare call center (800-633-4227) and speak to a plan counselor. They are open 24/7. James Grude 800-275-1844 http://www.SeniorsOnMedicare.com I tell my clients to call late at night or very early mornings. If you follow the way I show you I will guarantee that you will get the best drug plan in your area. Every senior needs to select a prescription drug plan. There is a way to check if your prescriptions will be covered by a plan. Not all plans are the same. You need to check if a plan covers all your prescriptions. Learn how to get the best plan at the lowest cost.
Views: 1595 Seniors On Medicare
Medicare Part D - Details You Need to Know to Before You Enroll
 
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Medicare Part D: http://medigapinfo.net/new-to-medicare/ or call 1-844-528-8688 Best Medicare Supplement Plan Here: https://www.youtube.com/watch?v=dGHEzYMylEA This video https://www.youtube.com/watch?v=vKV1PE2SuFs Explains how to find the BEST Medicare Part D drug plan for seniors when turning 65 or during the Annual Election Period. We highly recommend using the Medicare.gov plan finder tool here: https://www.medicare.gov/ or calling Medicare direct at 1-800-633-4227. You can get more Medicare information by going to our channel here:https://www.youtube.com/channel/UCpeawY2B_hUuZhV26QAwRuQ or visit our website. http://medigapinfo.net/ 1-844-528-8688 Part D is prescription drug coverage for Medicare beneficiaries who are enrolled in both Medicare Parts A and B. Although Part D is optional, you should enroll when you first become eligible or you will be subject to the Part D penalty which will have an impact on your rates, for as long as you are enrolled in a plan. Part D is offered by private insurance companies and is not part of original Medicare. Plans are offered by service area and you must live in a service area to be eligible for a plan. Medicare Part D Premiums -- Premiums are paid monthly and range from $18.40 to over $75.00 with the national average for 2016 being $36.41. Part D Deductible -- The deductible is the amount you may be required to pay prior to your plan paying a share of prescription drugs. The amount of deductible and on what tiers, it is paid on will be determined by the Part D you choose. Part D will also have copayments and/or coinsurance, this is the amount you pay at the pharmacy, and will be determined by what tier your prescription is. Initial Coverage Limit -- This amount is set annually by Medicare and will be the same for all plans. It is the amount both you and your plan will pay prior to you reaching the Part D coverage gap. Medicare Part D Donut Hole or Gap -- Is the coverage gap that you you will enter if you exceed the initial coverage limit of $3310.00 for 2016. This amount is the total spent by you AND the Insurance company combined. Part D Catastrophic Coverage -- Is reached after you alone (TrOOP) have spent a fixed amount in the Donut Hole, this amount is called True Out of Pocket. For 2016 the amount is $4850.00. During this phase you will pay very small copayments or coinsurance amounts for your drugs normally around %5. Table of Contents: 00:00 - Introduction 00:24 - Slide 1 01:34 - Part D Late Enrollment Penalty 06:01 - Slide 7 07:00 - Slide 8 08:36 - Slide 9 _________________________________________________________________ **Dont miss a single Medigap video Click Below to SUBSCRIBE** http://www.youtube.com/channel/UCpeawY2B_hUuZhV26QAwRuQ?sub_confirmation=1 ----------------------------------------------------------------------------------------------------------- Loran Marmes Medicare Solutions Team http://medigapinfo.net/ Facebook: https://www.facebook.com/medicaresolutionsteam/ -----------------------------------------------------------------------------------------------------------
Views: 7099 Medigap TV
Medicare Part D for Diabetes
 
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click here----http://www.medigaplist.com When you are on Medicare with the biggest worry for most people are the prescription drug plans because the out of pocket costs are pricey. If you are taking Novolog or another Diabetes insulin pen you must do some work so that you are not going to automatically hit the Medicare part d donut hole. It isn't the same for someone taking a generic drug such as Lisinopril or lovastatin. These are the generic drugs that might cost $3 at Walgreens, CVS, or Walmart. The diabetes insulin injections can be costly and can put you into the donut hole in the first quarter of the year. Especially in 2014 when the donut hole is around 50% of your prescription drug retail cost. Many people that are taking Novolog or another diabetes insulin drug will be on a Medicare supplement plan F or a Medigap plan N and think that the costs are really low. They are. The costly part of Medicare plans are the part d Medicare prescription plans. If you compare the best Medicare part D plans and look at some of the out of pocket costs they can be very similar. A list of Medicare supplement plans with part d plans can show a person how to save money. I am using Novolog as an example but it is costly with all of the diabetes drugs. If you want a list of Medicare part d plans and someone to help you compare supplement plans with the part d plans, come to our website. tags: AARP, AARP drug plan, Actos, Alabama, Alaska, Altocor, Amturnide, Anthem, Arizona, Arkansas, Avandia, Aviane, best medicare Part D, best Medigap plans, best Medigap plans in Colorado, best Medigap rates, Black Forest, Boulder, Broomfield county, California, cheapest medigap plan F, Chipita Park, Cigna, Cimarron Hills, Co Springs, Colorado, Colorado Springs, Connecticut, Crestor, Delaware, Delta Dental, Denver, drug plans, Florida, Georgia, Hawaii, Heartland Medigap Plan F, Idaho, Illinois, Indiana, inexpensive Medigap plan G, Iowa, Jefferson County, Kansas, Kentucky, lisinopril, list of Medigap, list of Medigap choices, list of Medigap companies, list of Medigap insurance companies, list of Medigap insurance costs, list of Medigap insurance plans, list of Medigap insurance rates, list of Medigap parts, list of Medigap plans, list of Medigap prices, list of Medigap rates, Louisiana, lovastatin, Maine, Maryland, Massachusetts, Medicare, Medicare beneficiaries, Medicare PArt A, Medicare Part B, Medicare part C, Medicare Part D, Medicare Plan C, Medicare Plan F, Medicare Plan G, Medicare Plan N, Medicare supplement plan A, Medicare supplement plan B, Medicare supplement plan C, Medicare supplement plan F, Medicare supplement plan G, Medicare supplement plan J, Medicare supplement plan N, Medigap, Medigap companies, Medigap insurance costs, Medigap list, Medigap plan A, Medigap plan B, Medigap plan C, Medigap plan D, Medigap plan F, Medigap plan G, Medigap plan K, medigap plan L, Medigap plan M, Medigap plan N, Michigan, Minnesota, Mississippi, Missouri, Montana, Mutual of Omaha, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Obama, Obamacare, Ohio, Oklahoma, Oregon, Pennsylvania, Pueblo, Pueblo County Colorado, Rhode Island, simvastatin, South Carolina, South Dakota, Tekamlo, Tekturna, Tennessee, Texas, Utah Vermont, Valturna, Virginia, Washington, West Virginia, Wisconsin, Wyoming, Gap drug plans, Marcia, simvastain, lovastatin
Views: 3506 Brian Monahan
What is Donut Hole 2017
 
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http://www.LibertySeniorSavings.com 88 Medicare Questions in 88 Days (888) 506-7510 Hi there, this is Nicole w/ Liberty Senior Savings. What is Donut Hole 2017 The Donut hole has to do with the Drug Plan which is one of the 4 parts of Medicare. The Part D Drug Plan is a federally funded program that helps seniors pay for their prescription plans. The Donut hole refers to a “gap” in coverage. It sounds like you have NO coverage after a certain dollar amount, but that is not true. You will just pay more for your medications. I’ve got a couple of graphs here to show you to try and make it a little bit less confusing. In general most of the plans have $400 deductible which means you pay that first $400 of annual drug costs. So you pay the first $400 of your deductible and then until your total drug costs reach $3700 you’re going to pay just co-pays. When we say total drug costs that includes what the company pays on your behalf together with the costs that you pay. So up to $3700 level you’re paying about 25%. Then you hit what they call the Donut Hole and the percentage you pay changes. Donut hole makes it sound like there’s no coverage but that’s not true the percentage just changes. Have a look at this graph to make it less confusing. After that initial $3700 where you’re just seeing the 25% between the $3700 and $4950 you’re paying a percentage of their retail generic price for example here in 2017 you’re paying 51% of the generic retail price & 40% of the brand name retail cost. When you hit total drug costs (both the company & your costs) of $4950 then you go back to approximately 5% of retail. A lot of folks ask us if getting a Prescription drug plan is mandatory. No, it's not mandatory, but later on if you DO decide to get a drug plan, they’re just going to charge you a percentage penalty fee for not having the prescription drug plan when you’re first eligible. We have a video for that but in general you’re going to pay 1% per month for each month that you’re eligible for the Part D Prescription Drug Plan but you chose not to have a Drug Plan. Also they will charge that to you based on the average nationwide price which is at the time of this video $35.63 and it’s a lifetime penalty we reassess it for you every year and just add it to your Part D Drug Plan. Thank you checking out our Article Donut Hole 2017. If you have any question please feel free to call us at 888-506-7510 or have a look at our Medicare mini-series, the 6-part video series that we put together to answer questions about Medicare. You can find that on www. GetMedicareSavings.com
Views: 522 Nicole Rada
No Donut Hole Medicare! www.NoDonutHole.com
 
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http://www.nodonuthole.com Some of the sock puppets cast help shed light on the Donut Hole in Plan D of Medicaid. Remember, no American should have to sacrifice his or her life-saving prescription medications because they can't afford them. Song Tango played by Sean for Not Equal the soundtrack.
Views: 204 AmericasFuture
Medicare Donut Hole
 
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Senior Citizen, Mt. Gilead, Ohio Question concerning Medicare Donut Hole for Presidential Candidates.
Views: 940 charsan11
Medicare Part D 2017
 
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http://www.omahainsurancesolutions.com/ 402-614-3389 Medicare usually makes some changes every year. Medicare changes Part D without exception. Medicare and the insurance companies make adjustments based upon drug costs and contracts with pharmaceutical companies. Medicare is also gradually eliminating the dreaded gap in Part D coverage, better known as the "Donut Hole." Medicare Changes Part D Deductible The change that gets the most recognition this year is the Medicare Part D changes deductible. Medicare changes Part D deductible from $350 in 2016 to $400 in 2017. That is a 14% increase to the deductible alone, which is a constant reminder to review your Medicare Part D plan each year with your agent. Part D Shell Game A $400 deductible is sizeable. Most of the Part D plans have the deductible, but some do not. The way those plans are able to eliminate the deductible is by spreading the deductible out Medicare Changes Part Dthrough the various co-pays on your medications. The other way is to apply the deductible only to higher Tier, more expensive drugs, e.g., Tier 3-5 medication. The Part D plans are a bit of a shell game shifting costs from this drug to another. It is important to not be distracted by the various co-pays. Medicare.gov has a wonderful medication calculator that will compared all of the Part D plans in your area side-by-side. You want to use that tool and focus on the total number that you will spend. Too often, Medicare beneficiaries will focus on one co-pay or an initial deductible. The bottom line is the total amount coming out of your pocket. Medicare Changes Part DMedicare.gov Medication Calculator That being said, we all have limited budgets. A big deductible may be too big for your wallet. It may make sense to use a Part D plan without a deductible to even out your costs over the year. If you are going on a Part D plan more than half way through the year because you just turned 65, it may make sense to pick a plan with no deductible. Why pay the big deductible and turn around and pay it again in January? That is why it is important that your agent go through your list of medications, talk about the costs, and figure out the best plan for you. An experienced agent should be able to effectively use the Medicare prescription drug calculator to show you how your medication costs will play out in the coming year. Also remember to check whether you qualify for the EXTRA HELP Program.
Medicare Basics
 
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Medicare Basics National insurance trainer, Sylvia Gordon explains Medicare basics each retiree should understand, Medicare Supplement Insurance, Medicare Advantage Plans. Understanding Medicare supplements, medicare part D, medicare part D or and the infamous "donut hole", medicare AARP, medicare supplement insurance, medicare advantage, medicare advantage plans. Having a clear understanding of Medicare basics will help you sort through the various plans and turn on some mental light bulbs. This short Medicare basics video explains this in an easy to understand format, but for more details on Medicare basics get over to our Medicare/Medigap site located at http://medigapcentral.com and give us a call or fill our our online form to get even more details. Gordon Marketing 20224 Hague Rd Noblesville IN 46062 (800) 388-8342 http://gordonmarketing.com Medicare Basics Medicare Part A Medicare Part B Medicare Part C Medicare Part D
Views: 3386 Gordon Marketing
Medicare Drug Plan The Basics of Part D
 
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Medicare dug plans, the basics of Part D is the topic of this video. Pharmacisttips.com/medd Topic Covered Include: What is Part D? Costs of Part D Medicare Drug coverage Open Enrollment Donut Hole or the Coverage Gap Ways to reduce the cost Prior Authorizations Medications not covered Extra Help How to contact Medicare
Views: 43 Pharmacist Tips
What is the Coverage Gap or Donut Hole in Prescription Drug Plans?
 
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What is the Coverage Gap or Donut Hole in Prescription Drug Plans? How can I avoid it? What if I need help paying for my medications?
Views: 563 AgingFlorida
Medicare Part D - 877-88KEITH (53484)
 
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Medicare Part D. Complete Medicare Resource Center here: http://www.medsupsavings.com/ 877-88KEITH (53484) Best Medicare Supplement Plan: https://www.youtube.com/watch?v=WGqCGQNF5mw Medicare Plan F – Just Say NO: https://www.youtube.com/watch?v=0OE29IMXbNU Important Points to Know about Obtaining Medicare Drug Coverage When enrolling for Medicare you can get coverage for prescription drugs. Medicare drug coverage is available through private insurance companies approved by Medicare. There are different ways to obtain the coverage with associated costs that vary depending on other coverage used with this plan. It is important to know how this works with other insurance you have in order to get the best coverage. Here is what you need to know about this option. How Do You Get Coverage You have two options to get drug coverage including through Medicare Part C Advantage Plan or through Part D Prescription Drug Plan. The most common way is through Part D. This plan can be used with original Medicare and other plan option such as a Medical Savings Account (MSA) or Medicare Cost Plans. Part C or Medicare Advantage Plan includes using a PPO or HMO along with benefits similar to Part A and B. You may be required to sign up for Part A and B in order to obtain Part D with Part C. Medicare drug coverage options may vary and could change depending on what Part C covers. Associated Costs and Getting Help Your income will determine how much you pay toward prescription drugs. If you receive Social Security you can have costs deducted from your Social Security payment. You may be required to satisfy an annual deductible before the drug coverage starts to pay. You may be required to pay a copay or coinsurance after paying a deductible (if your plan has this requirement). There are drug plans with different tiers that show how much you could pay depending on related costs. Generic drugs may have cheaper copay than name brand. The copay can be anywhere from a few dollars to $10 or so. The coinsurance is roughly a percentage of what the beneficiary pays before Medicare insurance covers costs. An example may be 20 or 25 percent. When you pay for drugs you are paying for a month supply unless stated otherwise. There is potential for out-of-pocket costs to be paid by the beneficiary if the insurance does not cover the cost, but in few cases this is rare. Additional Tips on Drug Coverage You can get help paying for Medicare drug coverage if you qualify. You may need to provide proof of documentation to show your eligibility for assistance. Such options may allow you to pay just a few dollars for medicine. You can obtain help when you are receiving medication and before your supply runs out for the month. The amount you pay for your plan varies based on drugs used, plan option, where you go to obtain prescriptions, if the drug is on the formulary approved by Medicare, and whether you qualify for assistance in paying for drug costs. You may qualify for assistance by your state if you receive Medicare Part A and/or Part B coverage. Enroll for coverage during the initial period to avoid paying penalites. ================================================== QUICK AND EASY MEDICARE SUPPLEMENT QUOTES http://www.medsupsavings.com/ Facebook: https://www.facebook.com/pages/Med-Sup-Savings/1709195569306815 Twitter: https://twitter.com/MedSupSavings LinkedIn: https://www.linkedin.com/pub/keith-armbrecht/5/11b/3a0 YouTube Channel: https://www.youtube.com/user/BigHealthGreatWealth
Views: 4606 Keith Armbrecht
What is the Medicare Part D Coverage Gap? | Walgreens
 
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Most Medicare Part D drug plans have a coverage gap — also known as the 'donut hole'— that limits what the drug plan will cover after a certain dollar amount is reached. Learn more about the Med D Coverage Gap by visiting our site: https://www.walgreens.com/topic/medicarepartd/donuthole-info.jsp. You can also get free advice about Medicare prescription drug coverage from a Medicare plan advisor at eHealth. Call toll-free today at 844-280-4950.
Views: 1233 Walgreens
ACA & Medicare Part D Donut Hole | Aging Matters | NPT Reports
 
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How the ACA slowly eliminates the prescription drug 'donut hole.'
Views: 153 NPT Reports
Medicare 101: Medicare Part D
 
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----------------------------------------- http://www.Medigaplist.com Medicare Part D is probably the most confusing part of Medicare. It is the prescription drug plan part of Medicare, and for those of you who are taking prescription medications this is the worst part of Medicare. The Medigap plans and Medicare Advantage plans can seem like a piece of cake when comparing it to the Medicare drug plans, especially if you have to go through the donut hole. Medicare part D is the prescription drug program the government has in place to subsidize the cost of the medications that people who are over the age of 65 or on Medicare in the USA. It was started in 2006 but was enacted as part of the Medicare modernization act. If you are enrolled in medicare Part A, and Medicare Part B you can get a Medicare Part D plan. There is no underwriting done for these plans which means if you are on Medicare you can get a drug plan no matter what you have (Cancer, heart disease, etc). Most people who get a Medigap Plan F from companies such as AARP, Cigna or Anthem Blue Cross and Blue Shield will wan't to get a prescription drug plan. If you are on Mutual of Omaha Plan N you can still get an AARP Medicare prescription drug plan. If you are on an Advantage plan or an MAPD you will get the drug plan tied in with the Medical coverage. The Medicare Plan F is what the majority of the population on Medicare supplement plans have. There are so many prescription drug plans that are approved by the state governments that you must look at which ones are available by you. If you live in Colorado Springs the Medicare plans may be different than the plans in Denver Colorado. If you live in Jefferson County they could be different than the plans in Pueblo County. If your zip code is 80901 it could be different than the zip code 80942. I am mentioning Colorado just because I wanted to show how from state to state and zip code to zip code it can be different. PA, Pennsylvania, Allentown, Philadelphia, Pittsburgh, Harrisburg, Lehigh, Downingtown, West Chester, Reading, Scranton, Lancaster, Havertown
Views: 202 Brian Monahan
Go Medicare Plans How to pick a Part D drug plan
 
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This instructional video will teach you how to use the Medicare website to select the most effective option! You will be able to see the cost structure for the numerous options available in your county. Learn what the premiums, copays deductibles are for each Medicare Part D drug plan. Find out if and when when you will go into the coverage gap ( also called donut hole) and what your costs will be if you do go into the Gap. Most Medicare Part D Plans have preferred networks as well as networks. Lowest costs for drugs will be with preferred networks!
Views: 540 Larry Belt
What Is The Donut Hole In Medicare?
 
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Most plans with Medicare prescription drug coverage (Part D) have a coverage gap (called a "donut hole"). This means that after you and your drug plan have spent a certain amount of money for covered drugs, you have to pay all costs out-of-pocket for your prescriptions up to a yearly limit. The initial drug coverage threshold limit for 2014 was set at down $120 from 2013. Learn more here if you enter the medicare part d coverage gap, or donut hole, your prescription costs may be much higher. Medicare part d donut hole search multiple engines. The medicare part d coverage gap ( donut hole ). Costs in the coverage gap what is donut hole? The medicare blog. Medicare part d coverage gap wikipedia. Health closing the donut hole. People who get extra help paying part d costs won't enter the coverage gap. In 2013, you will get a 50. This means that after you and your drug plan have spent a certain amount of money for covered drugs, to pay all costs out pocket prescriptions up yearly limit. Once you have spent up to the this gap, known universally as doughnut hole, is most criticized and unpopular part of medicare prescription drug program. Out of pocket costs help you get out the coverage gap 9 aug 2010 by jonathan blum, deputy administrator and director for center medicare at centers medicaid services a number visitors to healthcare. Learn how to avoid the donut hole understand what medicare part entails, and protect yourself from prescription drug coverage gap d (informally known as hole) is a period of consumer payment for medication costs which lies between initial limit catastrophic threshold, when member program you may be paying more your drugs because have fallen into hole, also called. Medicare prescription drug coverage gap, aka the donut hole. Donut hole? A brief explanation of medicare and the donut hole humana. However, with the introduction of donut hole discount in 2011, you are now coverage gap or (or doughnut hole) has caused a considerable amount confusion for many people when they suddenly required to pay higher price before full price) their prescription medications. Due to health reform, you no longer this guide provides a detailed explanation of the medicare part d drug coverage stages, what 'donut hole' is and how it factors into your out pocket costs 13 mar 2013 donut hole refers gap in prescription under. Seniors who fell in the 'donut hole' got a bit of lifeline, as affordable care act (aca) includes important improvements to medicare prescription drug coverage (part d) such reducing expenses for seniors donut hole now and eliminating gap altogether by 2020. However, the health care reform law of 2010 is gradually narrowing coverage gap. It's been an unpopular part of medicare prescription drug coverage, 20 oct 2017 find information on the coverage gap known as donut hole. Seniors receive additional savings each year on their prescription drugs until the donut hole is closed this illustration and chart outline costs of part d f
What is Medicare Part D?   Prescription Drug   Georgia Medicare Plans
 
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Turning 65? Enrolling in Medicare? How do I navigate the Medicare maze and find the best Medicare Part D prescription drug plan for my needs and budget? site:http://www.georgia-medicareplans.com medicare part d Call (404) 252-5859 to speak with Bob Vineyard. I will personally answer all of your Medicare questions. Never any charge. Free, online instant GA Medigap quotes - http://gamedigapquotes.com/ Medicare Part D can be a snake pit if you don’t understand how it works. Medicare Part D can be a blessing for some but a nightmare for others. Seniors age 65 and older are not required to buy a Medicare Part D plan, but if you don’t and then later change your mind, you will be subject to a Late Enrollment Penalty (LEP) of 1% per month. What is the Medicare Prescription Drug plan? How does the donut hole work? How can I avoid the donut hole? What if I can’t afford my prescription drug? Does Medicare cover vaccines? Doesn’t Medicare Part B cover prescription drugs? Why do I have to pay more because of my income? When is open enrollment? Do you have questions like these? I can help! In 2003, Congress enacted the Medicare Modernization Act that would forever change benefits, especially as it impacts the cost of prescription drugs. Did you know . . . Outpatient prescription drugs are not part of original Medicare, but rather a private insurance product marketed and administered by insurance carriers. Pharmacy Benefit Managers (PBM) negotiate pricing tiers for prescription drugs but the insurance carriers decide which drugs to include in their plan. Insurance carriers also assign tiers and copays for the Prescription Drug Plan (PDP) as well as setting the premium you pay Medicare Part D is a voluntary plan but you will pay a penalty if you fail to enroll on a timely basis. Once enrolled, you must remain in the plan until the next enrollment period BUT your plan can add or drop drugs during the year as they see fit. Non-formulary drugs do not count toward your deductible or Rx out of pocket maximum. Adding to the confusion is the dreaded DONUT HOLE. In 2018, your ICL (initial coverage level) is $3750. Also in 2018, your TrOOP is $5,000 once you exit the donut hole and enter the catastrophic coverage level. I can show you ways to minimize your out of pocket costs and in some cases, completely avoid the donut hole. Call me today. I want to help! (404) 252-5859 Visit my secure website at Georgia Medicare Plans - https://www.georgia-medicareplans.com/ For an online resource center or to apply for Medicare visit http://www.medicare.gov To learn about the history of Medigap visit: https://en.wikipedia.org/wiki/Medigap For more information about Medicare Part D plans visit: https://www.georgia-medicareplans.com/medicare-part-d-what-you-need-to-know/
How to find the best Part D Drug Plan
 
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http://SeniorSavingsNetwork.org 1-800-729-9590 This explains how to find the BEST Part D drug plan for seniors when turning 65 or during the Annual Election Period. For complete, unbiased help in obtaining the lowest total cost Part D plan, you really must go through the Medicare.gov Plan Finder tool OR (better) use their call center which is open 24 hours a day. The best tip is to call the call center late at night, so that you do not have to wait on hold. best part d drug plan when turning 65 best part d drug plan for 65 year old best medicare drug plan for 65 medicare drug plan search search part d plans
Views: 134997 Christopher Westfall
2010 Medicare Part D Explained
 
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http://www.medicaremall.com http://www.facebook.com/medicaremall What is Medicare Part D? Let's talk about Medicare Part D prescription drug coverage. Medicare prescription coverage or Part D is required for everyone with Medicare in order to avoid late enrollment penalties. All plans are approved by Medicare and administered by private insurance companies. More benificiaries misunderstand how Medicare Part D works than any other Medicare Part, and find themselves asking: What is Part D? How does Part D work? Do I need Part D? Where do I get Part D? Medicare Part D is your Medicare prescription coverage. Medicare Part D can be broken down into 4 parts, to include your Deductible, Initional Coverage Period, Coverage Gap (Donut Hole), and catastrophic coverage. If you decide not to join a Part D prescription drug plan you will be penalized retroactively to your Part B effective date. Get your Part D from MedicareMall.com. Our enrollment specialist are Qualified and Certified to show you multiple plan options, to find the best plan hat fit's your insurance needs.What is Medicare Part D? Let's talk about Medicare Part D prescription drug coverage. Medicare prescription coverage or Part D is required for everyone with Medicare in order to avoid late enrollment penalties. All plans are approved by Medicare and administered by private insurance companies. More beneficiaries misunderstand how Medicare Part D works than any other Medicare Part, and find themselves asking: What is Part D? How does Part D work? Do I need Part D? Where do I get Part D? Medicare Part D is your Medicare prescription coverage. Medicare Part D can be broken down into 4 parts, to include your Deductible, Initial Coverage Period, Coverage Gap (Donut Hole), and catastrophic coverage. If you decide not to join a Part D prescription drug plan you will be penalized retroactively to your Part B effective date. Get your Part D from MedicareMall.com. Our enrollment specialist are Qualified and Certified to show you multiple plan options, to find the best plan hat fit's your insurance needs.
Views: 2296 MedicareMall
Medicare Part D Colorado 2
 
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http://www.Medigaplist.com ----------------- There are so many Medicare plans to choose from when dealing with Medicare part D. So much confusion when it comes to the donut hole in Medicare. The premium cost of all of these plans are different, the co pays are different, the mail order pharmacies, the drugs, the Lipitor generic, the simvastatin. It goes on and on, and the one general consensus is that Medicare Part D prescription drug plans are just darn confusing. Rocky mountain health plans in Colorado are easier to figure out than the drug plans for Part D. The first step is to get your Medicare A and B card. If you already have that taken care of and you have a Medicare supplement plan in place the battle is almost won. Maybe it is the annual enrollment period and you simply want to change your drug plan or switch from a Medicare advantage plan. Maybe you just are tired of running your drugs through the system only to find out the Medicare approved part D plans are all expensive. My advice is to get a broker to help you through this. Why is it that people always want to do things themselves? It doesn't cost you anything more to get a Medicare broker to walk you through this time period. If you want Medicare Part D info and you are tired of looking around then call us at Medigaplist. We can help. So many people have asked me what the best Medicare drug plan is and I always tell them it is different for everyone. The AARP drug plan from United Healthcare is the best Medicare drug plan in Colorado for certain people. Humana is the best Medicare Part D plan for someone else. It really depends on the drugs you take. If you take Lisinopril to treat high blood pressure aka hypertension, or you take another ACE inhibitor, the plan isn't going to be the samer Part D Medicare plan that someone taking Actos or Avandia. Omeone who is taking Valium or a Xanax obviously has a different condition than someone taking Altocor, lovastatin or Crestor. Would you take Aviane or a ethinyl estradiol/levonorgestrel for your back pain; I don't think so. oyu need to get a list of Medicare Part D drug plans and compare the premiums. You also want to compare the best Medigap plan F and see if you can save money on your supplemental Medigap plan. The bottom line is you want the best Medigap plan F or Plan G you can find if it's affordable, you want a great Medicare part D plan, you need to make sure you can handle the Medicare Part A and B premium, and you want a good dental plan from a company such as Delta Dental. Go above a put in your zip code and the click the view rates button to see your Medicare and Medigap premiums in any part of the country including but not limited to Colorado Springs, Denver , Boulder and Jefferson County. AARP, AARP drug plan, Actos, Alabama, Alaska, Altocor, Amturnide, Anthem, Arizona, Arkansas, Avandia, Aviane, best medicare Part D, best Medigap plans, best Medigap plans in Colorado, best Medigap rates, Black Forest, Boulder, Broomfield county, California, cheapest medigap plan F, Chipita Park, Cigna, Cimarron Hills, Co Springs, Colorado, Colorado Springs, Connecticut, Crestor, Delaware, Delta Dental, Denver, drug plans, Florida, Georgia, Hawaii, Heartland Medigap Plan F, Idaho, Illinois, Indiana, inexpensive Medigap plan G, Iowa, Jefferson County, Kansas, Kentucky, lisinopril, list of Medigap, list of Medigap choices, list of Medigap companies, list of Medigap insurance companies, list of Medigap insurance costs, list of Medigap insurance plans, list of Medigap insurance rates, list of Medigap parts, list of Medigap plans, list of Medigap prices, list of Medigap rates, Louisiana, lovastatin, Maine, Maryland, Massachusetts, Medicare, Medicare beneficiaries, Medicare PArt A, Medicare Part B, Medicare part C, Medicare Part D, Medicare Plan C, Medicare Plan F, Medicare Plan G, Medicare Plan N, Medicare supplement plan A, Medicare supplement plan B, Medicare supplement plan C, Medicare supplement plan F, Medicare supplement plan G, Medicare supplement plan J, Medicare supplement plan N, Medigap, Medigap companies, Medigap insurance costs, Medigap list, Medigap plan A, Medigap plan B, Medigap plan C, Medigap plan D, Medigap plan F, Medigap plan G, Medigap plan K, medigap plan L, Medigap plan M, Medigap plan N, Michigan, Minnesota, Mississippi, Missouri, Montana, Mutual of Omaha, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Obama, Obamacare, Ohio, Oklahoma, Oregon, Pennsylvania, Pueblo, Pueblo County Colorado, Rhode Island, simvastatin, South Carolina, South Dakota, Tekamlo, Tekturna, Tennessee, Texas, Utah Vermont, Valturna, Virginia, Washington, West Virginia, Wisconsin, Wyoming
Views: 181 Brian Monahan
Medicare Part D Stages of Your Journey
 
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Express Scripts explains the stages of Medicare Part D prescription drug coverage. Deductible Stage: You pay the full cost of your medications overtime until you reach your deductible. Some plans have no deductible however plans with the deductible may have lower co-pays and overall costs. Initial Coverage Stage: You pay a copay or coinsurance for your prescription drugs and your plan pays the rest. The amount you pay depends on the drug tier of your medicine. The higher tier, the more you will pay. Generic drugs are usually tier one or two. Coverage Gap Stage: Also known as the donut hole. Avoid this stage by taking generic drugs and by using a preferred pharmacy or home delivery. You will pay more for your prescription drugs until you reach an amount set by Medicare. Catastrophic Coverage Stage: You pay a small amount for your prescription drugs for the rest of the year. Each year on January 1st, you start over and the amounts set by Medicare often change. For information about Medicare Part D, visit http://www.roadmapformedicare.com. To enroll in Medicare Part D, visit http://www.express-scriptsmedicare.com
Views: 1242 Express Scripts
Medicare Part D Colorado
 
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--------------------------------------------------------------- http://www.Medigaplist.com There are so many Medicare plans to choose from when dealing with Medicare part D. So much confusion when it comes to the donut hole in Medicare. The premium cost of all of these plans are different, the co pays are different, the mail order pharmacies, the drugs, the Lipitor generic, the simvastatin. It goes on and on, and the one general consensus is that Medicare Part D prescription drug plans are just darn confusing. Rocky mountain health plans in Colorado are easier to figure out than the drug plans for Part D. The first step is to get your Medicare A and B card. If you already have that taken care of and you have a Medicare supplement plan in place the battle is almost won. Maybe it is the annual enrollment period and you simply want to change your drug plan or switch from a Medicare advantage plan. Maybe you just are tired of running your drugs through the system only to find out the Medicare approved part D plans are all expensive. My advice is to get a broker to help you through this. Why is it that people always want to do things themselves? It doesn't cost you anything more to get a Medicare broker to walk you through this time period. If you want Medicare Part D info and you are tired of looking around then call us at Medigaplist. We can help. So many people have asked me what the best Medicare drug plan is and I always tell them it is different for everyone. The AARP drug plan from United Healthcare is the best Medicare drug plan in Colorado for certain people. Humana is the best Medicare Part D plan for someone else. It really depends on the drugs you take. If you take Lisinopril to treat high blood pressure aka hypertension, or you take another ACE inhibitor, the plan isn't going to be the samer Part D Medicare plan that someone taking Actos or Avandia. Omeone who is taking Valium or a Xanax obviously has a different condition than someone taking Altocor, lovastatin or Crestor. Would you take Aviane or a ethinyl estradiol/levonorgestrel for your back pain; I don't think so. oyu need to get a list of Medicare Part D drug plans and compare the premiums. You also want to compare the best Medigap plan F and see if you can save money on your supplemental Medigap plan. The bottom line is you want the best Medigap plan F or Plan G you can find if it's affordable, you want a great Medicare part D plan, you need to make sure you can handle the Medicare Part A and B premium, and you want a good dental plan from a company such as Delta Dental. Go above a put in your zip code and the click the view rates button to see your Medicare and Medigap premiums in any part of the country including but not limited to Colorado Springs, Denver , Boulder and Jefferson County. AARP, AARP drug plan, Actos, Alabama, Alaska, Altocor, Amturnide, Anthem, Arizona, Arkansas, Avandia, Aviane, best medicare Part D, best Medigap plans, best Medigap plans in Colorado, best Medigap rates, Black Forest, Boulder, Broomfield county, California, cheapest medigap plan F, Chipita Park, Cigna, Cimarron Hills, Co Springs, Colorado, Colorado Springs, Connecticut, Crestor, Delaware, Delta Dental, Denver, drug plans, Florida, Georgia, Hawaii, Heartland Medigap Plan F, Idaho, Illinois, Indiana, inexpensive Medigap plan G, Iowa, Jefferson County, Kansas, Kentucky, lisinopril, list of Medigap, list of Medigap choices, list of Medigap companies, list of Medigap insurance companies, list of Medigap insurance costs, list of Medigap insurance plans, list of Medigap insurance rates, list of Medigap parts, list of Medigap plans, list of Medigap prices, list of Medigap rates, Louisiana, lovastatin, Maine, Maryland, Massachusetts, Medicare, Medicare beneficiaries, Medicare PArt A, Medicare Part B, Medicare part C, Medicare Part D, Medicare Plan C, Medicare Plan F, Medicare Plan G, Medicare Plan N, Medicare supplement plan A, Medicare supplement plan B, Medicare supplement plan C, Medicare supplement plan F, Medicare supplement plan G, Medicare supplement plan J, Medicare supplement plan N, Medigap, Medigap companies, Medigap insurance costs, Medigap list, Medigap plan A, Medigap plan B, Medigap plan C, Medigap plan D, Medigap plan F, Medigap plan G, Medigap plan K, medigap plan L, Medigap plan M, Medigap plan N, Michigan, Minnesota, Mississippi, Missouri, Montana, Mutual of Omaha, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Obama, Obamacare, Ohio, Oklahoma, Oregon, Pennsylvania, Pueblo, Pueblo County Colorado, Rhode Island, simvastatin, South Carolina, South Dakota, Tekamlo, Tekturna, Tennessee, Texas, Utah Vermont, Valturna, Virginia, Washington, West Virginia, Wisconsin, Wyoming
Views: 162 Brian Monahan
Doughnut Hole for 2014 and Donut Hole Costs
 
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http://MedicareAgentTraining.com - FOR AGENT USE ONLY Helping seniors at http://SeniorSavingsNetwork.org Medicare training for Medicare Supplements, Medicare Advantage, prospecting, lead discounts, and more. The Doughnut Hole for 2014 comes with some unrevealed parts that most seniors, and most agents for that matter, do not know about. Most seniors believe that they enter the doughnut hole when their costs (senior's cost) reach that magic number. That is not the case. The doughnut whole is triggered when the senior's cost + the health plan's cost for that drug, both combine to reach the trigger dollar amount, which for 2014 is $2,850. When that amount is reached by the combination of co-payments and the health insurance company's costs, the senior enters the doughnut hole and their costs soar. Avoiding that doughbut hole, at all costs, is imperative and there is a solution you might not have considered. Also see: Medicare drug costs to fall in 2014, but donut hole widens http://www.reuters.com/article/2013/02/21/us-column-miller-medicare-idUSBRE91K13J20130221 Costs in the Doughnut hole: http://www.medicare.gov/part-d/costs/coverage-gap/more-drug-savings-in-2020.html For 2014: $2,850 Triggers the doughnut hole ($120 less than last year) In the doughnut hole, seniors pay: 47.5% name brand 79% cost for generics $4,700 = Catastrophic Coverage = co-payments then start again.
Medicare Part D Donut Hole
 
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I explain the Medicare Part D Donut Hole in this video. Disclaimer: I am not an insurance agent and I am not affiliated with Medicare. This video has not been reviewed or approved by Medicare.
Views: 103 crikel fikel
Part D Options When You Don't Take Prescription Drugs
 
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Call us at 888-411-1329 https://www.remedigap.com/ecourse https://www.remedigap.com/medicare-supplement-videos/ https://www.facebook.com/Remedigap/ Medicare: 1-800-633-4227 https://www.medicare.gov/ I often get calls from beneficiaries wondering if they have to buy a Part D (drug) plan...especially, if they don’t take any medications. While it’s not required by Medicare, there can be consequences for not buying a Part D drug plan when you’re first eligible for Medicare. Join me in this video to see what options are available if you don’t need (or want) a Medicare drug plan. Option # -- if you don’t take any prescription drugs is to not buy a Part D plan right now, but wait until you actually need one. Now, that seems like a common sense approach..and perfectly logical, however, there are some things to keep in mind if you choose this option. At some point, you will probably need a part d plan, and when this happens,you can’t just buy it and have it start right away. Because, Once you’re out of your enrollment period, you have to wait until the Annual Election Period (10/15-12/7) to enroll and then wait until January 1 for the plan to start. You may also be hit with a Medicare Part d late enrollment penalty. Now, this isn’t a one time fee. It’s a monthly add on penalty...so, just like it sounds, it’s added to your Part D premium every month for as long as you have a Part D plan. Now, there are some individuals that are not subject to the late enrollment penalty. And, that includes anyone who is eligible for Extra Help also know as Low-Income Subsidy and anyone who had “creditable coverage”. This is drug coverage through your job, spouse’s job, retiree coverage or VA...and, what’s important is that your current coverage is as good or better than Medicare’s...this is the only way it’s considered Creditable Coverage. Now, keep in mind that you can’t just tell Medicare you had creditable coverage….you actually have to have proof...and it must be submitted to the Part D company within 30 days of their request. Let's say you don’t fall into these two categories and you decided not to get a Part D plan when you were first eligible, so you know a penalty is coming your way. And for example sake, Let’s also say that you went 40 months without coverage and now you’re signing up for a Part D plan. Your penalty is calculated by multiplying 1% of the “national base beneficiary premium” which just means it takes all the Part D premiums and comes up with the average...(so, in 2017 the average Part D premium is $35.63). So, 1% of 35.63 is .36 multiplied by the 40 months you went without coverage. Your Part D penalty is $14.40. Remember, this is a monthly add on penalty to your Part D premium and it will stay with you for as long as you have a Part D plan. And, it’s important to note that Medicare recalculates this penalty every year with the new base beneficiary premium. And as it increases, so will your Part D penalty. The second option is to buy a Part D plan when you're first eligible. Since you don't take any medications, it’s not necessary to pay a high premium for a plan. The point is just to have a plan in place to avoid a penalty when you do decide to buy a plan. Now, with that said, Part D plans are not a one size fits all. Some Part D plans cover certain drugs better than others. So, if your doctor has mentioned the possibility of you taking a particular medication in the near future, you might want to take that into consideration when choosing a plan. But, for most people a low premium plan is the best option. And, in this video I'll provide the steps you need to find the lowest monthly premium Medicare Part D plan.
Views: 8489 REMEDIGAP
Medicare Part D
 
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www.healthplansinwashington.com Phone: (360) 787-1048‬‬ What is Medicare Part D? Medicare Part D, also known as the Medicare Prescription Drug is an optional drug plan that covers prescriptions. It helps Medicare beneficiaries pay for their medications and are managed by private medicare-approved insurers. You may qualify for Medicare Prescription Drug Plan if you are: - 65 or older - under age 65 with qualifying disability - and you have end stage renal disease - Medicare Part A and B covers hospital and medical coverage but does not cover prescription drugs covered by Part D. If you qualify for Medicare Part A and/or B, you automatically qualify for Part D. Remember: If you do want prescription drug coverage it is important to sign up for it when you are first eligible or you may have to pay an extra fee. How much is the Part D penalty? There's a late enrollment penalty depending on how long you went without Part D or creditable prescription drug coverage. Medicare calculates the penalty by multiplying 1% of the "national base beneficiary premium" ($35.63 in 2017) times the number of full, uncovered months you didn't have Part D or creditable coverage. Note that: The national base beneficiary premium may increase each year, so your penalty amount may also increase each year. Medicare Prescription Drug coverage is available in 2 different ways: Your Medicare prescription drug coverage can be provided by: a. "stand-alone" Medicare Part D plan (only prescription coverage). and b. Medicare Advantage plan that includes prescription drug coverage. Medicare Advantage or Part C is packaged with Medicare Part D coverage which covers same health services as part a and b combined/ with additional benefits added on the plan. If you join Medicare Part D prescription drug plan, national average monthly premium is $35. If you join a Medicare Advantage plan, you may have $0 premium. Your monthly premiums will vary depending on the benefits of your selected Medicare Part D plan or Medicare Advantage plan. Each Medicare prescription drug plan is different. Prescription drug plan may vary with the list of prescription drugs or formulary that are covered by the plan and pharmacy networks. Also, Medicare Part D is broken up into 4 basic parts that determine what health coverage you receive. Part 1 - The initial $400 deductible - Some plans do not have an initial deductible and provide "first dollar coverage" Part 2 – Coverage - The plan provides the Medicare Part D Beneficiary with co-insurance or medication co-payment. Usually, coverage extends to a point where the total retail cost of medication reaches $3700. Part 3- The Coverage Gap or Donut Hole - Here is where the Beneficiary pays 100% of their Medication costs - Some plans do provide partial or complete coverage for this gap in the Medicare Part D coverage. Part 4 - Catastrophic Coverage - When a person has spent more than $4950 for prescription medications, they will be protected by Catastrophic Coverage - here the cost of medications is substantially reduced. It is important to check your plan every year to make sure that your medications are covered by your chosen Medicare Part D plan.
Medicare Part D Provides Prescription Drug Coverage - Right on the Money - Part 3 of 5
 
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Subhead Cost in Drug Plans with Medicare Part D Varies From State to State Synopsis As an eligible Medicare beneficiary, you must select a drug plan and pay a monthly premium to receive the coverage, known as Medicare Part D. Drug plans vary by state and may offer extra benefits such as no deductible, higher coverage limits or cover additional drugs. Content Medicare Part D provides insurance coverage for prescription medications and is an important part of Medicare to consider if you’re eligible. It helps cover the “donut hole” opening you may have with traditional Medicare plans. You might need coverage for cholesterol and high blood pressure prescriptions—this is where Medicare Part D comes in. Under this particular program, insurance companies and other private firms contract with Medicare to provide prescription drug benefits to Medicare beneficiaries like you. How do you get a plan? You first must join a plan run by an insurance company or other private company approved by Medicare. Each plan can vary in cost and drugs covered. When choosing Part D coverage, there are a multitude of factors to consider: − Timing of enrollment. − Potential of penalties incurred for late enrollment. − The option to change plans. − Current prescription coverage. − Medication coverage. − Out-of-pocket costs. − Pharmacy convenience. − Future health changes. Watch the interview on the basics of Medicare with Curt Chojnowski, Principal at Executive Benefits Group and Medicare specialist. Curt has more than 20 years of experience in the industry and focuses on the ins and outs of Medicare coverage. If you already have prescription drug coverage, compare your current coverage with that provided through a Medicare plan. You want the most effective and efficient plan available, because as a senior, you need to keep as many dollars in your pocket as possible. The process of making decisions concerning health care insurance can be overwhelming and cause you confusion because of the plethora of providers and variances from state to state. It’s imperative to seek the help of a financial or insurance professional to ensure you’re on the right track for your situation and to maximize your retirement income dollars. National syndicated financial columnist Steve Savant interviews Curt Chojnowski on the basics of Medicare and the strategies available to seniors. Right on the Money is a weekly talk interview talk show for consumers. The show segments are distributed nationally as daily video press releases. (www.rightonthemoneyshow.com) https://youtu.be/k1GcFfFUQpA