Avoiding the Medicare Part D Coverage Gap

3 Simple Steps to Stay Out of the Medicare Donut Hole

In a standard Medicare Part D plan, the third stage of coverage is the Coverage Gap (also known as the “Donut Hole”), when you will pay more for your brand-name and generic medications. You’ll want to avoid entering the Gap completely or at least delay your entry as long as you can. To learn more about the Coverage Gap and the other coverage stages for Medicare Part D plans, please watch this video.


What Are Medicare TrOOP Costs?

Keeping Track of Your Out-of-Pocket Drug Expenses

It’s likely you’ve heard the term “out of pocket,” which refers to the Medicare expenses that aren’t reimbursed by insurance. A less familiar term, but one that is extremely important to Medicare Part D prescription drug plan members who enter the Coverage Gap, is “true out-of-pocket” or “TrOOP” costs. Your Medicare TrOOP expenses determine when you’ll leave the Coverage Gap, which is the third stage of the standard Medicare Part D benefit, and when you’ll enter Catastrophic Coverage, the fourth and final stage of the benefit. To better understand these coverage stages, please watch this video.


Learning the ABD and Cs of Medicare

Being Educated About Medicare Plans Will Make You a Smart Shopper

Nearly 54 million Americans are covered by Medicare health insurance. For many who are just retiring, it can be an overwhelming and complex process.

Medicare is composed of four parts, with each offering a specific type of coverage. Take the time to educate yourself about Medicare so you’ll be able to make more informed decisions that fit both your health needs and your budget.

It’s important that you understand the A, B, D and Cs of Medicare coverage, so let’s begin with some eligibility guidelines. (more…)

Turning 65? We Can Help You Choose the Right Medicare Route

Here’s What You Need To Know About Medicare Plans

Choosing the right Medicare plan is a big decision, particularly if you won’t have retiree coverage under an employer-sponsored plan. Medicare is complex and can be quite confusing. So making the right choice for your budget and health needs is as important as your decision when to retire. This article will help make it easier to arrive at a decision.


Avoiding Medicare Penalties

Follow Some Simple Rules to Make Your Medicare Experience Risk Free

No one likes to pay more for a product or service than necessary, especially if it can be avoided. The same principle applies to Medicare. If you don’t enroll when you become eligible, you may pay more. And Medicare late-enrollment penalties are not a one-time charge. They can raise your monthly premium(s) for years or possibly for life. Here are a few important rules to help you avoid these additional penalty charges.


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Understanding Your Part D Explanation of Benefits

How to Read and Use This Helpful Drug Benefit Summary

Most likely you get a lot of mail from your Medicare provider(s). One document to watch for is your monthly Medicare prescription drug plan “Explanation of Benefits” (EOB). This document lists the prescriptions you fill, any adjustments that were made from a prior claim, payments made by you and your plan, and any additional payment support from programs or organizations. Think of your EOB as a helpful tool for managing your Part D prescription drug claims and costs.

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