Working past traditional retirement age used to be uncommon. Now there are far more Americans aged 65 and older in the workforce than there were 3 decades ago. The number of employed Americans rose by 35% between 2011 and 2016 according to a December 2017 study completed by Senior Living. Medicare used to be only thought of as retirement health insurance, but many who qualify may not be retired at all.
Topics: Part B, Medicare, Medicare Part A, Medicare Part D, Part A, Retirement, Medicare Part B, how medicare works, Part D, Medicare Coverage, Employer Insurance, COBRA, What is COBRA?, creditable coverage, medicare eligibility, group coverage
Medicare Advantage has become a popular alternative to just having original Medicare Part A and Part B coverage. As you may already know, Medicare Advantage (MA) plans serve as an alternative to traditional Medicare, and they are supposed to provide plan members with coverage that is “as good or better” than original Medicare.
Topics: Medicare, medicare advantage, Medicare Part A, Medicare Part D, TSS, Medicare Part B, Medicare Part C, medicare solutions, how medicare works, What is Medicare?, Original Medicare, What is Medicare Advantage?, What is Original Medicare?
Did you know that Medicare covers a full range of preventive services? We want all of our friends and clients to stay healthy and to help with that we wanted to take some time to make sure our readership is aware about the preventative services offered to them through Medicare.
Topics: Part B, preventative care, Medicare, medicare advantage, Medicare Supplements, Medicare Part B, Medicare Part C, Health, Medigap, Medicare explained, medicare solutions, how medicare works, explain medicare, Part C
Topics: www.medicare.gov, Medicare, Medicare Premiums, medicare costs, Medicare.gov, Medicare explained, medicare solutions, how medicare works, Halloween, explain medicare, Medicare Coverage, What is Medicare?, what does medicare cover?
Each Medicare prescription drug plan has it’s own list of covered drugs called a formulary. All formularies are similar because they are based on the same federal guidelines, however they may not include the exact same medications. The federal government requires the plans to include most of the types of drugs used by Medicare beneficiaries. The difference in the drug formularies will be important to you because you will want to be certain that the prescription drugs you take will be on the plan’s list you are planning to enroll in. We break it all down here.
Topics: prescription drug coverage, Prescription Drug Plan, how medicare works, Prescription drugs, Prescription drug plans, discounts on prescriptions, What is Medicare?, what is a formulary?, medicare formulary
Medicare provides a General Enrollment Period every year from January 1st to March 31st, and this is generally the only opportunity during which Medicare eligibles can enroll in Parts A and Part B if they failed to do so during their Initial Enrollment Period, IEP. This enrollment period is especially important for those who did not get signed up for Medicare when they were first eligible.
Topics: Part B, Medicare, Medicare Part B, applying for Medicare, Penalties, how medicare works, General Election Period, What is Medicare Part B?, General Enrollment Period, Part B Penalties, medicare penalties
The vast majority of retirees in the U.S. qualify for Medicare because either they or a spouse have enough work credits. This means that these qualified individuals pay no premium for Part A and a modest premium for Part B. However, some people don’t qualify, and this is usually because they immigrated to the United States as elderly people and lack work credits. The question arises if there are any alternatives for these people to get health benefits.
One traditional way for Medicare beneficiaries to control the large gaps in coverage left by Part A and Part B of traditional Medicare has to been to purchase a Medigap policy, also called a Medicare supplement. One good thing about these policies is that they have been pretty standard in most states since the last big overhaul in 1992. Only three states have their own plan levels and don’t use the standard ones set by CMS. Still, there has been some talk recently of overhauling the standard Medigap plan levels again.
Topics: Medicare Supplement Plans, Medicare, health insurance, Health, medicare supplements explained, applying for Medicare, Medigap, how medicare works, medicare supplemental insurance, explain medicare
Medicare Special Needs Plans, also called SNPs, are similar to Medicare Advantage plans. However, they are only open to people who satisfy for the specific criteria of the plan. The idea behind these plans is that they are tailored for Medicare beneficiaries with specific issues, so these plans may serve people with those unique needs better.
CMS finalized their updates to Medicare in April of 2015, they have also been able to release some projects for 2016. The official 2016 Medicare Advantage Fact Sheet is posted on CMS.gov.