Liberty Medicare Blog

How to reduce Medicare Part D Cost – Case Study

How to reduce Medicare Part D Cost

People are typically very aware of the costs of Medicare Advantage or Medicare Supplement plans. However, this is not the case of selecting the Medicare Part D Plan. How to reduce Medicare Part D Cost? People normally select a plan based on recommendations from friends or family members, rather than on their list of prescriptions. Very often the choice is made on the lowest Monthly Premium, rather than on the lowest Estimated Annual Drug Costs (including premium, deductible, and all copayments). Once a plan is selected, people typically carry it in subsequent years instead of reviewing the available Prescription Drug Plans (PDPs) at the Medicare Open Enrollment Period. Read more…

Medicare Enrollment Periods and their Overlapping – 2019

Medicare Enrollment Periods and their Overlapping

UPDATED Mar. 6, 2019. According to Medicare rules, you are not allowed to enroll or disenroll in different parts of Medicare (Part A, Part B, Part C, and Part D) whenever you want. Instead, there are SEVEN different enrollment periods about the different parts of Medicare. Below we describe Medicare enrollment periods and rules of applying them when they are overlapping each other.

Watch this video from Liberty Medicare YouTube Channel.

You may find the script for this video in the Initial Coverage Election Period (ICEP), Initial Enrollment Period (IEP) and other Medicare Enrollment Periods.

Medicare Enrollment Periods

Initial Enrollment Period (IEP)

The 7-month period that begins 3 months before you turn age 65, or, in the case of disability, 3 months before your 25th month of disability. You can sign up anytime during the Initial Enrollment Period. If you sign up for Part A and/or Part B during the first 3 months of your Initial Enrollment Period, your coverage will start in most cases the first day of your birthday month. However, by waiting until you are 65 or older, your Medicare coverage will be delayed. As long as you’ve signed up for Part A and Part B, you also may use this period to sign for Part C and Part D. Read more…

The Difference between Inpatient and Outpatient

The difference between inpatient and outpatient hospital status affects how much you pay for hospital services.

  • You’re an inpatient starting when you’re formally admitted to the hospital with a doctor’s order. The day before you’re discharged is your last inpatient day.
  • You’re an outpatient if you’re getting emergency department services, observation services, outpatient surgery, lab tests, or X-rays, or any other hospital services, and the doctor hasn’t written an order to admit you to a hospital as an inpatient.

Read more…

Getting Medicare Under 65

Medicare for Disabled Under 65

Most people get Medicare when they are turning 65, but there is also an option getting Medicare Under 65.  In 1999 Medicare covered some 5 million people who are under 65 and disabled, a number that is expected to grow to more than 9 million by 2020. You will be qualified for Medicare if you are receiving Social Security Disability Insurance benefits (SSDI) for more than 24 months. But because you must wait five months before receiving disability benefits, you are actually must be disabled for 29 months before being entitled to Medicare. There is an exception from the 2-year waiting period. If you have Amyotrophic Lateral Sclerosis (ALS), then Medicare automatically begins the first month your disability starts.

Notice also, that Social Security, not Medicare, determines whether you qualify for SSDI checks. Read more…

Special Enrollment Periods (SEPs) for Medicare Advantage and Part D

Special Enrollment Periods (SEPs)

UPDATED Feb. 7, 2019.  Typically, you may join, change or leave a Medicare Advantage plan or Part D plan in one of three enrollment periods: Initial Enrollment Period when you first qualify for Medicare, Medicare Open Enrollment Period (Oct. 15-Dec. 7), and Medicare Advantage Open Enrollment Period (Jan.1 – Mar. 31). Outside of these three periods, you may change your coverage only during Special Enrollment Periods (SEPs), if you are qualified. Read more…

Delayed Medicare Part A and Part B, and Late Enrollment Penalty – 2024

Delayed Medicare Part A and Part B, and Late Enrollment Penalty

UPDATED Oct. 27, 2023.  If you don’t buy Medicare when you are first eligible, you may be a subject for Part B Late Enrollment Penalty.

When you’re first eligible for Medicare, you have a 7-month Initial Enrollment Period to enroll in Medicare. It begins 3 months before you turn age 65, or, in the case of disability, 3 months before your 25th month of disability. You can sign up anytime during this time. If you sign up for Part A and/or Part B during the first 3 months of your Initial Enrollment Period, the coverage will start in most cases the first day of your birthday month. However, by waiting until you are 65 or older, your Medicare coverage will be delayed.

Read more…