Can I have Medicare and Marketplace insurance at the same time?

Can you have Medicare and Marketplace insurance at the same time?

Marketplace Medicare

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

Read more…

Medicare Supplement Plan G vs Plan F

Medicare Supplement Plan G vs Plan F

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…

Medicare Part D Premium and Part B Premium by Income – 2019

Medicare Part B and Part D premiums by income - 2019

The post below describes 2019 Medicare Part D premium and Part B premium based on income.


Medicare Part B Premium based on Income – 2019

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.

Medicare Part D Premium based on Income
Medicare Part D Premium based on Income – 2019

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.

Please give us your feedback!

What do you think about Medicare Part D premium and Part B premium based on income – 2019? Write your comments.

Contact Us

For help finding the best Medicare or Individual Health Plan for you, please contact Liberty Medicare or call us at 877-657-7477.

Medicare Preventive Services – 2019

Medicare Preventive Services

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…

Medicare Open Enrollment Period and its Impact on Medicare Supplement (Medigap) Enrollment

Medicare Open Enrollment Period and its Impact on Medicare Supplement (Medigap) Enrollment

You may enroll in Medicare Supplement at any time. There are no limitations when you may join, switch or drop the Medigap plan; as long as an insurance company is willing to sell a policy to you. Your insurance application will be subject to medical underwriting (unless you apply for the Medigap Open Enrollment Period or have Medicare Supplement Guaranteed Issue Rights), and the insurance company is free to accept or reject your application. How does the Medicare Open Enrollment Period affect the Medicare Supplement enrollment? Read more…

What are Medicare Changes in 2019?

What are Medicare Changes in 2019?

The post below describes 2019 Medicare changes for Premiums and Costs for Medicare Part A, Part B as well as for Part D.

Article Contents

Medicare Part A Cost 2019
Medicare Part B Premium and Cost 2019
Medicare Part D Cost 2019
Medicare Part D Premium 2019
US Government Sources

Medicare Part A and Part B Costs
Medicare Part A Cost 2019

Changes for Medicare Part A Cost in 2019 include:

  • Part A premium
    • For individuals with 40 or more quarters of Medicare-covered employment: $0 per month ($0 in 2018)
    • For individuals with 30-39 quarters of Medicare-covered employment: $240 per month ($232 in 2018)
    • For individuals with less than 30 quarters of Medicare-covered employment: $437 per month ($422 in 2018) Read more…