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Category: Senior Markets
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Published: Friday, 29 May 2020
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Written by Rebekah Williams
ESRD, or kidney failure, affects more than 500,000 Medicare beneficiaries. These individuals are not currently eligible to enroll in the MA program but may be covered by an MA plan if they developed ESRD after enrollment or were grandfathered through employer-sponsored coverage. Currently, 130,000 people with ESRD, or 25% of this population on Medicare, have coverage through an MA plan.
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Category: Senior Markets
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Published: Friday, 29 May 2020
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Written by Rebekah Williams
Today, under President Trump’s leadership, the Centers for Medicare & Medicaid Services (CMS) announced that over 1,750 standalone Medicare Part D prescription drug plans and Medicare Advantage plans with prescription drug coverage have applied to offer lower insulin costs through the Part D Senior Savings Model for the 2021 plan year. Across the nation, participating enhanced Part D prescription drug plans will provide Medicare beneficiaries access to a broad set of insulins at a maximum $35 copay for a month’s supply, from the beginning of the year through the Part D coverage gap. The model follows on the Trump Administration’s previously announced 13.5% decline in the average monthly basic Part D premium since 2017 to the lowest level in seven years.
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Category: Senior Markets
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Published: Wednesday, 06 May 2020
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Written by Barbara Huffman
CMS has officially announced an SEP is available for individuals affected by the COVID–19. This SEP is available nationwide to residents of all states, tribes, territories, and the District of Columbia. The SEP can be used until June 30, 2020 under the following circumstances.
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Category: Senior Markets
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Published: Monday, 06 January 2020
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Written by Rebekah Williams
New rules took effect on New Year’s Day. The Medicare Access and CHIP Reauthorization Act of 2015 (“MACRA”) was signed into law on April 16, 2015. MACRA prohibits the sale of Medigap policies that cover Part B deductibles to “newly eligible” Medicare beneficiaries. Those affected by the change must pay the $198 Medicare Part B deductible themselves. ThinkAdvisor has an article you’ll find helpful. Click here to read it.
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Category: Senior Markets
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Published: Friday, 03 January 2020
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Written by Barbara Huffman
********** New Requirement for applications**********
As you're completing applications with your clients, be sure to include the correct Medicare ID number, which is now the Medicare Beneficiary Identifier (MBI).
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Category: Senior Markets
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Published: Monday, 18 November 2019
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Written by Rebekah Williams
On November 8, 2019, the Centers for Medicare & Medicaid Services (CMS) released the 2020 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs.
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