Medicare Prescription Drug Plans Vary by Hundreds of Dollars Per Year
Let’s face it – No matter how many times experts recommend that we reevaluate our Medicare Part D plan each year, many of us don’t!
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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.
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A higher household income may mean a higher premium
You’ve done your research, enrolled in a Medicare Part D plan, and figured out your monthly premium payment. All set? Maybe not.
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Medicare offers many plan options that can make choosing a plan very complicated. In evaluating these choices, however, there are several very clear objectives to keep in mind that should simplify your decisions.
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The steps to planning for Medicare
U.S. citizens and legal residents who have been in the U.S. for at least 5 consecutive years become eligible for Medicare at age 65, unless they’re disabled. In cases of disability, a citizen or legal resident under 65 qualifies automatically for Medicare Part A and Part B after receiving Social Security or certain Railroad Retirement Board disability benefits for 2 years.*
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What you need to know before you retire
Congratulations, you’re about to turn 65 and become eligible for Medicare! Now what? (more…)
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Here’s what to do when your employer drops your Medicare coverage
Change is never easy, especially when it comes to health benefits. However, with change comes the opportunity to get a benefit that better fits your needs and potentially saves you money. (more…)
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Tips for enrolling in a Medicare Part D plan
Key Dates for Medicare Part D Annual Enrollment Period
Plan Information Available:
Note: The late enrollment penalty is 1% of the national average premium for every month you were without Part D prescription drug coverage or other creditable prescription drug coverage following your initial enrollment period, or if you had a break in creditable prescription drug coverage of 63 or more consecutive days. Creditable prescription drug coverage (for example, from an employer or union) means that it is expected to pay, on average, as much as Medicare’s standard prescription drug coverage. You will pay this late enrollment penalty for as long as you have Part D coverage.
Enrolling in a Medicare Part D prescription drug plan (PDP) is an important process that requires time and research, but it shouldn’t be a difficult one if you’re prepared well in advance for any potential bumps in the road. Unfortunately, nine in 10 people wait until the last minute to select a plan. (more…)
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