Medicare Part D 2021

When Suzie is not talking about Medicare Advantage plans. She recieves questions about Medicare Part D. Here are the stages that you may not know.

The Deductible Stage: While some plans have a zero dollar deductible, the most an annual deductible will be is $445. You are responsible for 100% of your prescription drug costs until your deductible is met.

The Initial Coveage: You pay a copay or coinsurance. Your Part D plan pays the rest for prescription drugs included in your plan's formulary.

The Coverage Gap: After you and your plan have together spent $4130 on prescription drugs then you enter the coverage gap or donut hole. You now pay 25% of the cost of your prescription drugs.

Catastrophic Coverage: When you have reached $6550 after your total out of pocket expenses on prescription drugs plus any discounts, you are back to small co-pays or coinsurance until the end of the year.

Plan Year Resets: Everything resets January 1st and you return to the deductible stage.

Each Medicare Part D plan has a different formulary or list of drugs so it is good to review your plans during the Annual Enrollment Period which goes from October 17th through December 7th. This is the time frame that you can make adjustments that begin January 1st, 2021.

If you have questions then don't hesitate to call Suzie or come in for a one on one.

Appointment

Comments

The gig economy and life insurance

It takes minutes Temporary work, contract jobs, seasonal jobs, freelance, piece work, driving for Uber, selling on Etsy, etc. The gig economy has been around for ever. Whether it is picking apples for the season, working the slopes at mission ridge, to being a contractor at a server farm it is easy to fall into a gig career path. About a third of the American workforce has found themselves bouncing from short term job to short term job. While the pay can be good temporary, what about the long term? A policy for everyone When was the last time that you met someone that retired after working from the same job for 40 years? On average, you will change jobs times 12 times in your lifetime. What happens if the next company doesn't offer a plan? We have seen companies terminate life insurance policies for retirees. Do really want to leave your family high and dry for a short term job? What happens when you die? Your bills don't go away . A majority of adults say a fu...

Medicare Advantage, Supplement and Drug Plans from a local office.

We do a lot of work with the Washington Healthplanfinder as an Enrollment Center for Healthcare. Seriously, we are open year round answering questions and enrolling people in healthcare. When Suzie first started transitioning from being a Pharmacy Technician, she wanted to lead helping Medicare Individuals with their plans. Yes, we assist people with Medicare. We stock materials Medicare Advantage, Supplement and Drug plans so that we can help with questions at our office in Wenatchee for your initial enrollment. Most people can enroll into Medicare plans 3 months before their 65 th Birthday, the month of and 3 months after their Birthday. Folks also can delay enrollment if they are covered by plan through work. We can do a lot over the phone however sometimes there is nothing like having a complete enrollment packet in your fingertips. We like to take the time to do it correctly and it is not a problem to answer questions through the year. The best part is ...

Medicare Advantage and Prescription Changes for 2025

How does we know that big changes is coming to Medicare for 2025 without talking about insurance plan details? Well it is real simple, the Inflation Reduction Act put in some very positive changes that impact Prescriptions in a big way. 1. Insulin at $35/month (already started). 2. vaccine access (already started). 3. Expansion of low income subsidy (already started). 4. $2000 yearly out of pocket max of prescription drug cost 2025. 5. Medicare Prescription Payment plan starts in 2025. 6. Manufacturer discount program starts in 2025. 7. In 2026 we will see the first 10 negotiated drug prices. These impact every Medicare Prescription Plan including Medicare Advantage plans that have prescriptions! Yes, large insurance companies have been predicting 50% of people using Medicare with prescriptions will switch plans this year. The Medicare Annual Enrollment Period runs from October 15th through December 7th. Set your appointments early for Suzie . While we can not discuss Medicare ...

Washington State Healthcare Solutions

Search This Blog