Medicare Releases 2014 Part D Costs

The Centers for Medicare and Medicaid Services (CMS) has released the 2014 costs for a standard Part D prescription drug plan.

  • The deductible will drop from $325 to $310.  
  • The average monthly premium remains stable and is projected to be $31. 
  • The discount in the donut hole for brand-name medications will remain at 52.5%. The discount for generic drugs will increase to 28% from 21%. 

Most people need help picking an insurance plan.

People picked the least costly plan only 42 percent of the time according to a recent study.

I just finished reading a very interesting paper distributed by the University of Pennsylvania law school.  A marketing student from Columbia Business School gave ordinary people a basic health insurance literacy course;  told them they were buying health insurance for a family that would need a certain amount of health care per year; then offered a list of plans.

Hospice Care & Medicare

I recently got a call from someone asking how Hospice care works when you're on Medicare.  Here is what I discovered...

According to the website, if you qualify for hospice care, you’ll have a specially trained team and support staff available to help you and your family cope with your illness. Your doctor and the hospice team will work with you and your family to set up a plan of care that meets your needs.

Beware of Scare Tactics about Obamacare

Regardless of your political sensibilities, intentionally scaring people with inaccurate and incomplete information is unethical.  The tactic of frightening senior citizens in order to advance a political agenda has become far too common.  When a new client asked me not about the security and peace of mind that Medicare would bring him but instead about how he would pay for his medical care once "Medicare premiums double or triple in the next two years" I decided things had gone too far.

Medicare Supplemental Insurance & Medicare Advantage Plans

Someone on Facebook recently asked me,

"What's the differences between Medicare Supplemental Insurance and Medicare Advantage Plans?"

Questions like these are the reason I love this business. People need to know that there are many options in Maine when you turn age 65.

Am I Eligible for Medicare if I am Receiving Social Security Disability Benefits?

If you are unable to work due to a disabling condition, your income is not the only thing that ends – in most cases your medical insurance ends as well. This is why so many Social Security Disability applicants wonder whether or not they will are eligible to receive Medicare benefits. The answer is yes you can receive Medicare benefits to help cover medical costs, but not right away.

If you have been entitled to Social Security Disability benefits for a period of 24 months then you will become eligible to begin receiving Medicare benefits on the 25th month.

Medicare Advantage Is Living Up to Its Name!

Heritage policy analyst Kathryn Nix has analyzed research that shows that private health plans participating in Medicare Advantage are making strides in what Congress has tried—and failed—to achieve in traditional Medicare fee-for-service (FFS) for decades. Competition among private plans has maintained patient satisfaction, lowered costs, and increased the quality of care. Success is obvious and abundant in the MA program. Medicare Advantage (MA) is more advantageous to beneficiaries when compared to traditional FFS Medicare.

Medicare Covers Hospice and Comfort Care

Do you care for someone who is terminally ill? It isn’t always easy to care for a loved one in difficult times, but Medicare can help – you don’t have to do it alone.