A pre-existing condition is a health problem you have before the new insurance policy plan starts. What are Medicare Supplement plans pre-existing conditions? It depends on the time of enrollment in the Medicare Supplement (Medigap) plan. Consider three different scenarios: Medicare Supplement Open Enrollment Period, Guaranteed Issue Right, and Medical Underwriting. Read more…
SilverSneakers® is a comprehensive program for seniors to participate in physical activities. It is probably the best-known fitness program. SilverSneakers® membership includes access to every participating gym and fitness center in the network at more than 16,000 locations. Does Medicare cover Silver Sneakers? Read more…
Annual Enrollment Period (AEP) (also known as Medicare Open Enrollment Period) ended on Dec.7, but there are still plenty of opportunities for some individuals to make changes in their Medicare health plans. Two immediate options are Non-Renewal SEP (Special Enrollment Period) and Medicare Advantage Open Enrollment Period (MA OEP). Read more…
From 2019, there is a new enrollment period – Medicare Advantage Open Enrollment Period (MA OEP). It will replace the Medicare Advantage Disenrollment Period (MADP) that began January 1st and continued through February 14th. There are actually Annual MA OEP and Individual MA OEP.
Annual Medicare Advantage Open Enrollment Period will allow people enrolled in an MA or MAPD plan to make a one-time election to go to another Medicare Advantage plan, or to leave their Medicare Advantage plan, return to Original Medicare Part A and Part B and join a stand-alone Medicare Part D plan. It runs from January 1st through March 31st. Read more…
Can you have Medicare and Marketplace insurance at the same time?
Generally, once you have Medicare, it is illegal for you to enroll in Marketplace plan, known as a Qualified Health Plan (QHP). But see exceptions below.
If you already enrolled in Marketplace plan and ready for Medicare, you are entitled to keep your QHP. But this is rarely done. Typically you’ll cancel your Marketplace plan when your Medicare coverage begins. You need to notify QHP insurer at least 14 days before the start of your Medicare coverage. We’ll review below why only in rare cases you want to have Medicare and Marketplace insurance at the same time
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UPDATED, Oct. 8, 2019. How to compare Medicare Supplement Plan G vs Plan F?
The latest published Gorman Health Group Report Market Trends: Medicare Supplement confirmed that Medigap Plan F is the most popular of all plans. In 2015, nearly 6.5 million people are enrolled in Plan F, and its market share is 55%. Although Medicare Supplement Plan G (Medigap Plan G) market share (7.58%) is much lower than Plan F, Plan G one of the fastest growing Medigap plans. The recent Plan G enrollment is much higher than Plan F. What made Plan G so appealing recently? Read more…
UPDATED May 5, 2019. Public benefit programs (such as Medicaid), providing help with Medicare Costs, use the Federal Poverty Level (FPL) guidelines to determine who qualifies for coverage. The table below includes the current income and resource limits someone needs to meet to be eligible for Medicaid and Medicare Savings Programs in 2019.
For more details, see Medicare Savings Programs (MSP): Help with Medicare Expenses. Read more…
Medicare Open Enrollment Period and Marketplace Enrollment Period are behind us. But Medicare season is still actually quite active with Medicare Supplement (you may enroll in a Medicare Supplement during the entire year), dual-eligible, and multiple other kinds of Special Enrollment Periods (SEP). Read more…
The post below describes 2019 Medicare Part D premium and Part B premium based on income.
The standard Part B premium amount in 2019 is $135.50. Most people will pay the standard Part B premium amount. If your Modified Adjusted Gross Income (MAGI) as reported on your IRS tax return from 2 years ago (i.e., 2017) is above a certain amount, you’ll pay the standard premium amount and an Income Related Monthly Adjustment Amount (IRMAA). IRMAA is an extra charge added to your premium.
The chart below shows the 2019 Part B premiums.
| If your filing status and yearly income in 2017 was | |||
| File individual tax return | File joint tax return | File married & separate tax return | You pay monthly in 2019 |
| $85,000 or less | $170,000 or less | $85,000 or less | $135.50 |
| above $85,000 up to $107,000 | above $170,000 up to $214,000 | not applicable | $189.60 |
| above $107,000 up to $133,500 | above $214,000 up to $267,000 | not applicable | $270.90 |
| above $133,500 up to $160,000 | above $267,000 up to $320,000 | not applicable | $352.20 |
| above $160,000 up to $500,000 | above $320,000 up to $750,000 | above $85,000 up to $415,000 | $433.40 |
| above $500,000 | above $750,000 | above $415,000 | $460.50 |
Table 1. Medicare Part B Premium based on Income – 2019
For more information, visit Medicare Part B Costs.
The Part D monthly premium varies by plan. Most people only pay their Part D premium.
If your modified adjusted gross income is above a certain limit, you may pay a Part D income-related monthly adjustment amount (Part D-IRMAA) in addition to the plan’s premium. You’ll pay the Part D-IRMAA amount in addition to your monthly plan premium, and this extra amount is paid directly to Medicare, not to your plan.
The chart below shows the estimated prescription drug plan monthly premium based the Modified Adjusted Gross Income (MAGI) reported on your IRS tax return from 2 years ago. It is the most recent tax return information provided to Social Security by the IRS.
| If your filing status and yearly income in 2017 was | |||
| File individual tax return | File joint tax return | File married & separate tax return | You pay monthly in 2019 |
| $85,000 or less | $170,000 or less | $85,000 or less | Your plan premium |
| above $85,000 up to $107,000 | above $170,000 up to $214,000 | not applicable | $12.40 + your plan premium |
| above $107,000 up to $133,500 | above $214,000 up to $267,000 | not applicable | $31.90 + your plan premium |
| above $133,500 up to $160,000 | above $267,000 up to $320,000 | not applicable | $51.40 + your plan premium |
| above $160,000 up to $500,000 | above $320,000 up to $750,000 | above $85,000 up to $415,000 | $70.90 + your plan premium |
| above $500,000 | above $750,000 | above $415,000 | $77.40 + your plan premium |
Table 2. Medicare Part D Premium based on Income – 2019
For more information, visit Medicare Monthly Premium for Drug Plans.
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For help finding the best Medicare or Individual Health Plan for you, please contact Liberty Medicare or call us at 877-657-7477.
Preventive care is care you receive to prevent illness, detect medical conditions, and keep you healthy. Medicare Part B covers many preventive services, such as screenings, vaccines, and counseling. You may use these services, if you meet the eligibility requirements. This is true for Original Medicare and Medicare Advantage Plans.
Medicare Preventive Services are now covered more than ever. As the new services are added, Medicare coverage of preventive services may change at any time. The table of Medicare preventive services is shown below. Some of the services are free, meaning that neither copays nor deductibles are required. (Cells of those services are empty). Other services require either a copay or both copay and deductible. Read more…
