If you are taking prescription drugs for your health, then you know how expensive they can get. Without some kind of drug coverage, you may not even be able to afford these important medications.

Prescription Drug Coverage, also called Medicare Part D, can help alleviate some or all of the burden that comes with paying for pricey medications. But not all Part D policies cover the same drugs. So it’s important to know which plans cover which drugs. Talking to a licensed Medicare agent in Louisville, KY can rest assured that you get the drugs you need at an affordable price.

WHAT IS PART D?

Medicare Part D, also known as a Prescription Drug Plan, or PDP, provides help with the cost of prescription drugs. This can be provided through private insurance companies or select Medicare Advantage Plans that include drug coverage.

Some plans will pay for certain drugs entirely, while other plans will only require you to pay your copays. It’s important to know that not every drug on the market is covered by Medicare Part D. Certain drugs, like weight loss medications, are not covered by any policy.

WHAT IS COVERED BY PART D PRESCRIPTION PLANS?

Medicare Part D plans are offered by private insurance companies, which means they can vary greatly in coverage. All Part D plans will provide some type of coverage for prescription drugs, but the extent of coverage, requirements, restrictions, and drug coverage varies.

The federal government has set guidelines to ensure that certain drugs are covered under all Medicare Part D plans. However, before selecting a Part D plan, it is important to know what prescriptions you take, and which ones you may need in the future in order to ensure that the plan you choose covers the prescriptions you take.

Coverage may also vary by location, some plans will only cover specific pharmacies, and others will only cover you in certain areas. For those who travel regularly, it is important to find a plan that will provide coverage regardless of pharmacy location.

WHO IS ELIGIBLE FOR PRESCRIPTION DRUG PLANS?

All Medicare recipients are eligible for Medicare Part D. If you are entitled to Medicare Part A or are enrolled in Medicare Part B, you cannot be turned down for a Medicare Part D plan during your initial enrollment period. As soon as you become eligible for Medicare, you can join Part D. Typically, eligibility is determined by age for those 65 or older, or individuals who have other qualifying conditions.

HOW MUCH DO PART D DRUG PLANS COST?

The cost of Medicare Part D varies from one plan to another because it is offered through a variety of private companies. It is important to have an agent at Braden Insurance shop around for Part D plans because the costs can vary greatly, even or the same coverage.

Some of the costs associated with Medicare Part D include:

• Deductibles – Medicare has out a maximum deductible of $415 for 2019.
• Premiums – The basic plan premium for 2019 is $33.19 per month.

WHEN TO ENROLL IN MEDICARE DRUG COVERAGE

It is best to sign up for a Part D plan as soon as you become eligible. In some circumstances, members may be charged a penalty or face higher premiums if they sign up after their initial eligibility.

There are a couple of different times to sign up for Medicare Part D coverage, including:

When you turn 65

You have the option to sign up for Part D Prescription Drug Plan when you are initially eligible for Medicare by turning 65. This eligibility period is a 7-month period that starts 3 months before the month you turn 65, includes the month of your birthday, and ends 3 months after the month you turn 65.

If you get Social Security or Railroad Retirement Board benefits

If you are eligible for disability benefits, you are also eligible for Medicare prescription drug coverage. You can sign up for coverage once you have been on Social Security or RRS benefits for two years.

General Enrollment Periods

Each year, there are two general enrollment periods when anyone who is enrolled in Medicare Part A or B can sign up for a Medicare Prescription Drug Plan. The first period begins in April and continues through June. The second open enrollment is in October and continues through the first week of December. This is the easiest time to plan for coverage and change your enrollment options.

During this time, you have the option to change from Original Medicare to a Medicare Advantage Plan, or vice versa. You can also switch Medicare Advantage Plans and join a Medicare Prescription Drug Plan or drop your Medicare prescription drug coverage completely.

Few exceptions allow enrollment outside of an enrollment period, but it is important to enroll as soon as possible to avoid potential penalty fees.

It is important to have the coverage and the benefit plan that best fits your budget and your needs. To sign up, add, change, or drop coverage, you need to talk with a Medicare agent in Louisville, KY so you can be prepared for these important time periods each year.

DON’T WAIT TO SIGN UP FOR DRUG COVERAGE

Many Medicare eligible recipients go without their potentially life-saving medications because they can not afford them. Don’t let this happen to you.

Medicare Part D can be an extremely beneficial addition to your Medicare plan. Finding the right plan at the right price will ensure you never go without your important prescription drugs.

Our licensed, independent agents in Louisville, KY will do the shopping for you. We will compare plans from multiple insurance companies like Humana, Aetna, United Healthcare, Anthem, Cigna, and more. We will find the perfect Medicare Part D plan for you.

Talk to one of the friendly agents at Braden Insurance to find out more about how Medicare Part D can save you money.

The post Medicare Part D Plans: The Basics Of Cost, Coverage, And Enrollment appeared first on Bradeninsurance.com

Braden Insurance Agency Inc.
3069 Breckenridge Ln
Louisville, KY 40220
502-454-9191
https://www.bradeninsurance.com/map/
https://www.bradeninsurance.com/info/

This month we continue our four part series on the four main parts of Medicare insurance coverage. Each section will focus on one alphabet part to help clear up the coverage, eligibility, cost, and enrollment for that particular area.

So far we’ve covered Medicare Part A and Medicare Part B. This week, we’ll continue with taking a closer look at Medicare Part C.

WHAT IS PART C?

Medicare Part C, also known as a Medicare Advantage plan, is different from Part A and B mainly because it is offered by private health insurance companies, not the government. Medicare Advantage plans combine coverage for Medicare Parts A and B and include additional medical services such as prescription drug coverage for those who want it.

WHAT DOES PART C COVER?

Medicare Part C will provide all the basic coverage included in Part A and Part B such as hospital stays, skilled nursing services and home health as well as doctor’s visits, outpatient care, screenings, shots and lab tests.

However, because it is a plan provided by private insurance companies, there are a number of other options available. Many plans may also provide expanded coverage for everything such as prescription drug coverage, eye care, hearing problems, preventative care, wellness programs, and a 24-hour nurse helpline.

WHAT DOES PART C NOT COVER?

Medicare Part C, or Medicare Advantage, must cover the same services as Original Medicare Part A and Part B, except it does not provide hospice care. You can still keep you Medicare Advantage Plan and receive hospice at the same time. Your Medicare Part C covers your health benefits not related to your hospice care.

You will have to look at your specific plan details to see what other exclusions there may be. For help deciphering your Medicare Part C plan, talk to an independent agent in Louisville, KY today.

WHAT PROVIDERS CAN I SEE?

The terms of Medicare Part C plans vary. In some plans, your health care is “coordinated.” This means the plan coordinates you coverage through a primary care doctor who manages the care you receive from specialists and hospitals. You may have to choose specific doctors and hospitals in this situation.

In other plans, you can get care from any Medicare-eligible provider who accepts the terms, conditions, and payment rates of the plan before providing coverage. Doctors and hospitals can decide whether or not to accept those terms, conditions, and payment rates each time they furnish covered services.

All Medicare Advantage plans have “service areas.” These are areas, typically a county, state, or region, where they offer coverage. Generally, you must live in a plan’s service area in order to join it. However, all Medicare Part C plan must offer nationwide coverage for emergency care, urgent care, and renal dialysis.

WHO IS ELIGIBLE FOR PART C?

As soon as you become eligible for Medicare, you can join Part C. Typically eligibility is determined by age for those 65 or older, or individuals who have other qualifying conditions.

HOW MUCH DOES MEDICARE ADVANTAGE COST?

The cost of Medicare Part C varies from one plan to another because it is offered through a variety of private companies. You will need to continue paying your Medicare Part B premium as well as your Part A premium if you have one. The added cost of your expanded benefits will depend upon the coverage and insurance provider you select.

Insurers can change premiums and other terms of the plan from year to year. Each autumn, insurers announce next year’s premiums and other terms of their plans.

HOW DO I ENROLL IN MEDICARE ADVANTAGE?

Before you enroll in a Medicare Part C plan you will have to enroll in Medicare Parts A and B. Generally, individuals are automatically enrolled in both if they are already receiving Social Security. Otherwise, you will need to contact your local Social Security office to enroll.

Once you are enrolled in Parts A and B you can select a Medicare Advantage Plan. For most people, this can all be done at the same time, when they turn 65 years of age. There is a seven month window to enroll which starts three months before your birthday month and ends three months after.

If you miss that window or choose not to enroll initially there is an Annual Enrollment Period (AEP) each year during which you can decide to signup for a Medicare Advantage Plan. This period lasts about six weeks and runs from October 15th through December 7th.

CAN I BE REFUSED A PART C POLICY?

Assuming you have joined Medicare Parts A and B, you can not be refused by any plans in your area that are accepting new members. Some Medicare Part C plans have special eligibility rules that you must satisfy in order to join the plan. The time when your coverage begins depends on when you sign up.

HOW DO I RENEW MY MEDICARE ADVANTAGE POLICY?

Your plan renews automatically from year to year, so long as you pay your premium and the plan is still available in your service area. Other than those two conditions, you do not have to do anything else.

WE ARE YOUR MEDICARE ADVANTAGE EXPERTS

With so many plan options and so many private insurance companies to choose from, finding the perfect Medicare Part C plan can be a chore. Don’t take on this burden yourself.

Our licensed, independent agents in Louisville, KY will do the policy shopping for you. We will compare plans from multiple insurance companies like Humana, Aetna, United Healthcare, Anthem, Cigna, and more. We will find the perfect Medicare plan for you. Call us today for a free consultation!

The post Medicare Part C Plans: The Basics Of Cost, Coverage, And Enrollment appeared first on Bradeninsurance.com

Braden Insurance Agency Inc.
3069 Breckenridge Ln
Louisville, KY 40220
502-454-9191
https://www.bradeninsurance.com/map/
https://www.bradeninsurance.com/info/

This month, we continue our four part series on the four main parts of Medicare insurance. Each section will focus on one alphabet part to help clear up the coverage, eligibility, cost, and enrollment for that particular Medicare letter.

Last week, out Louisville, KY team focused on Medicare Part A. This week we’ll continue with taking a closer look at Medicare Part B.

WHAT IS PART B?

Medicare Part B covers two main areas:

1. Services and supplies that are medically necessary
2. Preventative services

Medically necessary services or supplies are those that are needed to diagnose or treat a medical condition. Preventive services are those provided by a health care professional to prevent illness or detect it at an early stage. Medicare Part B is voluntary, but most people sign up when they first become eligible.

WHAT DOES PART B COVER?

Medicare Part B helps pay for out-patient care deemed “medically necessary” for illnesses or medical conditions including doctor’s office visits, laboratory tests and more. The costs of some preventative care, such as flu shots, medical equipment including wheelchairs, oxygen, etc. are typically covered. Additional coverage may also include some outpatient mental healthcare, part-time in home skilled nursing care for the home-bound, and some prescription drugs including chemotherapy.

Getting services defined as medically necessary is important for those who are trying to get Medicare to pay those medical expenses. The best way to find out if a particular service is covered by Medicare Part B is to talk to your Louisville, KY doctor or other health care provider about why you need certain services or supplies, and ask if Medicare will cover them. If you need something that’s usually covered and your provider thinks that Medicare won’t cover it in your situation, you’ll have to read and sign a notice saying that you may have to pay for the item, service, or supply.

You can also click here to find out if Medicare covers your item, service, or supply.

WHAT DOES PART B NOT COVER?

Medicare Part B focuses on helping you pay the costs of medically necessary care when you are sick. Only in very limited situations does it cover any care for you eyes, teeth, or hearing.

It also does not cover medical care you receive outside of the United States, except in a few limited situations. If you frequently travel abroad, talk to an agent at Braden Insurance to make sure you have Medicare coverage that will travel with you.

Lastly, Medicare Part B does not cover the cost of help with the activities of daily like eating, bathing, and getting dressed.

WHAT PROVIDERS CAN I SEE?

You can choose any provider who is eligible to participate in Medicare, and who is accepting new patients.

WHO IS ELIGIBLE FOR PART B?

As soon as you become eligible for Medicare, you can signup for Medicare Part B. Typically, eligibility is determined by age for those 65 or older, or individuals who have other qualifying conditions. Enrollment in Part B is optional but many people choose to apply for Part B when they first become eligible.

HOW MUCH DOES PART B COST?

Medicare Part B is provided through the federal government, but you still pay a premium each month. Your premium will be automatically deducted from your benefit payment if you get benefits from one of the following:

• Social Security
• Railroad Retirement Board
• Office of Personnel Management

If you don’t receive any of these benefits, then you will receive a bill in the mail.

Most enrollees pay the standard premium of $135.50 in 2019. If your modified adjusted gross income from your IRS tax return from two years ago is above a certain amount, you may pay an Income Related Monthly Adjustment Amount (IRMAA). The following chart lays out what premium certain levels of income have to pay.

File individual tax return	File joint tax return	File married & separate tax return	You pay each month (in 2019)
$85,000 or less	$170,000 or less	$85,000 or less	$135.50
Above $85,000 up to $107,000	Above $170,000 up to $214,000	Not applicable	$189.60
Above $107,000 up to $133,500	Above $214,000 up to $267,000	Not applicable	$270.90
Above $133,500 up to $160,000	Above $267,000 up to $320,000	Not applicable	$352.20
Above $160,000 and less than $500,000	Above $320,000 and less than $750,000	Above $85,000 and less than $415,000	$433.40
$500,000 or above	$750,000 and above	$415,000 and above	$460.50

HOW DO I SIGNUP FOR PART B?

All individuals who receive Social Security are automatically enrolled in Medicare Parts A and B when they reach the age of 65. If you choose to decline Medicare Part B or are not receiving Social Security, you will need to contact your local Social Security office.

CAN I BE DENIED PART B COVERAGE?

Assuming you are eligible for Medicare, you can not be refused Medicare Part B because of your medical history or a preexisting condition. The time when your coverage begins depends on when you sign up. If you sign up promptly at the start of the initial enrollment period, your coverage will begin on the first day of the month you become eligible for Medicare.

HOW DO I RENEW MY PART B COVERAGE?

Your Medicare Part B coverage renews automatically from year to year, so long as you pay the premium. Other than that, you do not have to do anything else!

LET BRADEN INSURANCE BE YOUR MEDICARE EXPERTS

Having Medicare Part B or any Medicare coverage can mean the difference between getting critical medical care or staying ill. No one should have to choose.

The independent agents at Braden Insurance in Louisville, KY are here to make sure you get the Medicare coverage you need to maintain an active and healthy lifestyle. Talk to an agent today to make sure you are getting the coverage you deserve.

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Braden Insurance Agency Inc.
3069 Breckenridge Ln
Louisville, KY 40220
502-454-9191
https://www.bradeninsurance.com/map/
https://www.bradeninsurance.com/info/

The post Medicare Part A Plans: The Basics Of Cost, Coverage, And Enrollment appeared first on Bradeninsurance.com

Braden Insurance Agency Inc.
3069 Breckenridge Ln
Louisville, KY 40220
502-454-9191
https://www.bradeninsurance.com/map/
https://www.bradeninsurance.com/info/