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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Are you soon turning 65? Adler Insurance in Prescott discusses how he can assist you.

Turning 65 typically means you’re eligible for Medicare.  This includes both Part A & B. This federal program provides hospital insurance and some medical insurance to older Americans.  Adler Insurance explains some of your additional options in Prescott:

• Medicare Part C, also called Medicare Advantage. These plans are available from private insurance companies and must offer the same benefits as Part A & B, but may add more coverage like vision, dental, or prescription drug benefits. It is imperative that you know which private insurance companies are being used in your local area.  You don’t want to sign up for a plan only to find out there aren’t any doctors in town accepting that insurance coverage. 
• Stand-alone Medicare Part D prescription drug plan.  You can add this to your original Medicare to receive prescription medication coverage.
• Medicare Supplement insurance (known as Medigap) is also available to add to your Medicare coverage and help cover the “gaps” in original Medicare.

First-time Medicare beneficiaries have what is called an Initial Enrollment Period. This period starts three months before your 65th birthday and extends three months afterwards. It’s important to enroll during this time. If you do not enroll during the Initial Enrollment Period, you may incur late fees or have to wait until the General Enrollment Period which is between January 1st to March 31st of the following year.  Your coverage would then begin in July of that year.

If you or your spouse are still working when you turn 65 and you have health insurance through this employer, you might consider delaying enrollment in Part B. You may not wish to pay the Part B premium if you don’t need the coverage. Contact your current employer’s benefits department to see if your employers’ health coverage is sufficient and find out how it might work with Medicare Part B before making a decision.  Call us if you need some help with your decision.

When your employer coverage ends, you will be provided with a Special Enrollment Period that lasts eight months to sign up for Medicare Part B without incurring a penalty.

We encourage you to call us and talk further about your individual Medicare needs in Prescott.  Jessie and Dina Adler at Adler Insurance would love to assist you in making good Medicare decisions.  Please don’t hesitate to call 928-710-1455 or visit our website at http://www.AdlerLifeHealth.com today!

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Adler Insurance in Prescott helps consumers navigate the waters of Medicare Advantage Plans

Medicare pays a fixed amount for your care each month to the companies offering Medicare Advantage Plans. These companies must follow rules set by Medicare.  Adler Insurance prepares users for signing up for Medicare Advantage Plans in Prescott.

However, each Medicare Advantage Plan can charge different out-of-pocket costs and have different rules for how you get services.  Often these rules are subject to change every year.

Medicare Advantage Plans Drug Coverage:
You usually get prescription drug coverage (Part D) through the plan.  You can't have prescription drug coverage through both a Medicare Advantage Plan and a Medicare Prescription Drug Plan.

Medicare Advantage Plans and Medigap Plans:
Medigap policies can't work with Medicare Advantage Plans. If you have a Medigap policy and join a Medicare Advantage Plan (Part C), you may want to drop your Medigap policy.

What Medicare Advantage Plans Cover:
Medicare Advantage Plans must cover all of the services that Original Medicare covers except hospice care. Original Medicare covers hospice care even if you're in a Medicare Advantage Plan. In all types of Medicare Advantage Plans, you're always covered for emergency and urgently needed care.  Medicare Advantage Plans may offer extra coverage, like vision, hearing, dental, and/or health and wellness programs. 

Adler Insurance in Prescott can answer all of these questions.  Contact us at 928-710-1455 or by visiting us at http://www.adlerlifehealth.com. 

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Adler Insurance discusses Medicare enrollment in Prescott

The Medicare Part D prescription drug plan can be very confusing. Adler Insurance can help you with your Medicare enrollment in Prescott and explain what you should consider when choosing a Medicare Part D plan.

If you are a recipient of Medicare coverage, you are eligible to receive Medicare Part D. This helps with the following: Cover the cost of prescription medications, can be offed as a stand alone plan or complement a Medicare Supplement Plan, and can be a complement to Part C.

All Part D plans have been approved by Medicare in Prescott. Each plan is different as well as the cost. This mean you must take into consideration the pros and cons of each plan.

Questions you should ask yourself:
How often do you take prescription drugs?
What are the types of drugs do you take?
Do you take brand name or generic drugs?
Would you prefer a yearly deductible or a cheaper monthly premium?

Not all Medicare Part D plans are the same. The costs of Medicare Prescription Drug Plans vary and come with a different lists of drugs (formularies) that are covered under the plan. Most Plans divide the drugs up into at least four categories, with a different price for each category.

There are specific times when you can sign up for these plans, or make changes to coverage you already have. You don’t need to sign up for Medicare each year. However, each year you’ll have a chance to review your coverage and change plans.

Adler Insurance in Prescott, AZ is more then happy to answer any questions you may have on Medicare Part D. We're experts when it comes to evaluating your insurance needs, and are here to help you. Contact us at 928-710-1455. Visit our website at: http://www.adlerlifehealth.com.

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