Adler Insurance explains everything Prescott Medicare users need to know about Open Enrollment 2018

This year’s Medicare Open Enrollment will soon be coming to town, and that means that you’ll hearing about it a lot until it is over. For those of us who are currently enrolled or looking to enroll in a Medicare plan, it can be the most confusing time of the year. Have no fear, though, because Adler Insurance, a Medicare Insurance Broker in Prescott, is here to tell you what you what you should be doing every year during Medicare Open Enrollment season.

Every year, starting October 15, Part D and Medicare Advantage plan members are able to re-file and adjust their plans. Due to this re-filing, your benefits can change and your premiums can go up, so each year there is an election period where you can outright change your benefits. Each September, your Medicate Advantage or Part D plan provider will send you a document listing all the changes that are happening this year, and if any of them will affect you.

Each Open Enrollment Period, you have a few o
ptions:

• Do nothing and automatically roll over with the same or closest to same plan (if your plan has changed)
• Enroll in, change, or leave your Part D plan
• Switch from Traditional Medicare to a Medicare Advantage plan
• Switch the other direction
• Change your Medicare plan

Most of our clients ask us “Why should I change my Medicare plan?” Here are some of the more common reasons that you may want to change your plan:

Your plan is dropping one of your medications. Each year the document that outlines the changes in your Medicare plan will tell you if any drugs that you use may be dropped next year, or if there are any formula changes that might affect you. If one of your medications aren’t being covered anymore, it may be time to change Medicare plans.
Your plan is dropping your doctor for the network. If this is the case, you may either need to find a new doctor or switch to a plan that your doctor still participates in.
Your plan has a large cost increase. Most plans increase a bit each year due to inflation, but if your plan is increasing by a substantial amount, you might want to consider switching.

What are changes specific for the 2017 Medicare Open Enrollment?

This year, one big changes will be coming to Medicare plan members during this OEP, is dependent on your income. If you have a Medicare plan and earn more than $133,501 as an individual or $267,000 as a married couple, you will see significant increases in your Medicare plan premiums. For example, someone who makes $160,000 as an individual will now pay $428 for part B. You will receive a statement telling you what you will have to pay for Medicare next year, and will be based on your income from the previous two years.

There is a lot of information to take in, we know. It’s important to stay informed and keep your health and finances safe. If you are having difficulty with your current Medicare plan provider, or are looking to get started on Medicare in Prescott, contact Adler Insurance, call 928-710-1455 or visit our website at http://www.adlerlifehealth.com for more information.

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Things you should look at during Medicare Open Enrollment in Prescott – Adler Insurance Discusses Part D Plans

What changes should you make during Medicare Open Enrollment this year? Unfortunately, you may be facing some premium increases or changes to covered drugs, now is the time to review your Medicare Part D coverage to head off headaches next year. Adler Insurance, your local Medicare Broker serving Prescott and the Verde Valley (Cottonwood, Camp Verde and Sedona), would like to bring you these helpful tips.

Here’s what you should review during the annual open enrollment period so you can select a new prescription drug plan if necessary.

Covered medications. Prescription drug plans can change the medications they cover each year, and it’s important to double-check that your current medications and any new prescription drugs you expect to use in the coming year will be covered. Will there be any changes next year you need to think about?

Premium prices. Your Medicare Part D monthly premium may increase, many of the popular Part D plans have seen increases in the past years, you must weigh the amount of the change in premiums versus the inconvenience of making changes. If the changes are small you should not worry.

Cost-sharing changes. Prescription drug plans may change the co-payments and coinsurance of covered drugs each year. Most plans have structured tiers for generic drugs and brand-name drugs. Medications in each tier have different out-of-pocket costs, ranging from co-payments to a percentage of the bill. Be sure to watch for this.

Deductibles. Most part D plans charge a deductible. Some companies will charge a smaller deductible, however plans that do lower or eliminate the deductible make other changes that can raise costs for people. Watch for lower deductible with higher premiums.

Preferred pharmacies. Filling your prescriptions at selected network pharmacies will help some with certain Part D plans. Higher copayments can be charged depending on the pharmacy and whether you choose a non-preferred generic form of your medication. Get a list of pharmacies before you sign up.

Medication restrictions. Speaking of non-preferred generic medications, some Part D plans require you  to get prior authorization before they will cover certain drugs. These plans may require lower-cost drug alternatives or limit the amount of medication you can buy at one time. It may be worth it to get a plan that does not have these restrictions.

There are many options to consider. There are over a thousand different plans and options possible. There are about 30 plans that fit for most people. Adler Insurance would like to help you get the best value from this year’s Medicare Open Enrollment in Prescott and the Verde Valley areas. For more information on how we can help, contact us today at 928-710-1455 or visit our website at http://www.AdlerLifeHealth.com.

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Adler Insurance discusses the Special Election Period for your Medicare when moving to Prescott

Have you recently moved to Northern Arizona? Welcome to the neighborhood! We know that things are busy for you right now, however Adler Insurance – your local Medicare Insurance Broker serving Prescott, Cottonwood, Camp Verde, and Sedona, would like to let you know that you have a limited time to switch your Medicare Plans to Arizona coverage.

What type of Medicare coverage do you have?

If you move here from anywhere from within the USA you should be able to maintain your current Medicare Part A and Part B coverage. If you have a Medicare Advantage Plan or Prescription Drug Coverage (Part D), you will need to review that coverage.

Also, once you have found a doctor in your area, be sure to contact your previous healthcare provider and have them send a copy of your medical records.

Do you have a Medicare Advantage or Prescription Drug Coverage (Part D)?

If you’re enrolled in a Medicare Advantage plan or a Medicare Part D Prescription Drug Plan, a change such as moving to Arizona could qualify you for a Special Election Period (SEP). During your SEP, usually 60 days, you’re allowed to enroll into a new plan.

If you miss your Special Election Period (SEP)?

If you miss the deadline to enroll in a new Medicare Advantage plan during your SEP, you’ll return to the original Medicare (Part A and Part B). If you’d like to sign up for a new Medicare Advantage plan after your relocation-based SEP is over, you're not out of luck. You will be able to make adjustments during the Annual Election Period (October 15 – December 7).

Do you have a Medicare Supplement Plan (Medigap)?

There are specific rules regarding switching your Medigap Plan. Are you on a standardized plan accepted in AZ? Do local Doctors who accept your plan here? Also, be aware that you might have to pay more for the Medigap plan in Arizona, and you might have to answer some questions about your health history.

There is a lot to take into consideration. We are here to help! Adler Insurance is your local Independent Medicare Insurance Broker in Prescott, Sedona, Cottonwood, and Camp Verde. We are experts on Arizona Medicare Insurance Plans. Contact us today at 928-710-1455 or visit our website at http://www.AdlerLifeHealth.com.

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Medicare Enrollment in Prescott; Who Needs it? - Adler Insurance

Most American citizens and legal residents become eligible for Medicare health coverage when they turn 65 years old.  The eligibility age may rise to 67 or 68 in coming years, but it's likely that any such increase will be phased in so that anyone who's already eligible can stay in the system. If you’re approaching the age of 65, questions about Medicare open enrollment in Prescott can easily be answered by experts at Adler Insurance. For now, we’ll cover some of the basics.

The Initial Enrollment Period for Medicare actually starts three months before you turn 65, so you can start applying for and setting up your coverage when you're 64 and nine months. Medicare is made up of four component Parts. Specifically:

Part A (Hospital Insurance) pays for part of any:

•    inpatient hospital care,
•    critical access hospitals,
•    skilled nursing facility care,
•    some home health care,
•    hospice care.
•   
Part B (Medical Services Insurance) pays for part of any:

•    doctor's services,
•    ambulance services,
•    outpatient hospital care,
•    x-rays and laboratory tests,
•    durable medical equipment and supplies,
•    some home health care,
•    certain preventive care,
•    other outpatient services,
•    other medical services Part A doesn't cover, such as physical and occupational therapy.

Taken together, Parts A and B make up "traditional" Medicare coverage. And they operate like an indemnity-style health insurance policy. They are flexible, giving you broad choice in the doctors and hospitals you use, but they require you to pay substantial amounts out of your own pocket. Part C— it's also called the Medicare Advantage program—is, essentially, a managed-care option. It puts various restrictions on the providers and hospitals you can choose but generally covers all (or nearly all) of the costs. Part C includes several sub-category options:

•    Medicare Health Maintenance Organizations. In these plans, you must get your care from primary care doctors, specialists or hospitals on the HMO's list of network providers, except in emergencies.

•    Medicare Preferred Provider Organization Plans. In most of these plans, your share of plan costs is lower when you use doctors, specialists and hospitals that are "in network." which means they contracted to accept the PPO fee schedule.  Using out-of-network providers is allowed but will cost you more out-of-pocket. The PPO option is designed especially for use in rural areas—which have been historically undeserved by Medicare providers and facilities.

•    Medicare Special Needs Plans. These plans generally limit enrollment to people in certain long-term care facilities (like nursing homes); people eligible for both Medicare and Medicaid; or those with certain chronic or disabling conditions.

•    Medicare Private Fee-for-Service Plans. Sometimes called Point of Service Plans. In these plans, you may go to any Medicare-approved primary care doctor, specialist or hospital that will accept the terms of the private plan's payment.

•    Medicare Medical Savings Account Plans. These plans include a high deductible plan that will not begin to pay benefits until the high annual deductible is met. They also include a medical savings account into which Medicare will deposit money for you to use to pay your health care costs. Medicare MSA Plans do not cover prescription drugs—you have to buy that coverage separately.

Part D is the Medicare Outpatient Prescription Drug Coverage. It's a fairly new coverage, begun in 2006, and is sold through private-sector insurance companies rather than directly by the government.

The most important thing to remember about Medicare is that enrollment should never be put off. The Government is constantly changing regulations regarding retirement as we know it. The retirement age has been increased to 67 and will likely go up from there. Adler Insurance wants to remind you that no matter at which age you retire; it is a requirement to enroll in Medicare at 64 and nine months of age. Learn more about Medicare by visiting Adler Insurance at http://www.adlerlifehealth.com/ or calling 928-710-1455

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