How do I drop Part A & Part B Medicare Coverage?

Generally, you can only drop Part A (Hospital Insurance) if you have to pay a premium for it, also called Premium-Part A. There are some risks to dropping coverage: – Your costs for health care: You may have to pay all of the costs for services that Medicare covers, like hospital stays, doctors’ services, medical supplies, and preventive services. – Gap in coverage: If you change your mind and want to sign up again later, you may have to wait until the next General Enrollment Period (January 1-March 31 each year) to sign up. Your coverage won’t start until July 1. – Late enrollment penalty: If you don’t qualify for a Special Enrollment Period to get Medicare later, you’ll have to pay a monthly late enrollment penalty for as long as you have Part B coverage. The penalty goes up the longer you go without Part B coverage. If you have to pay a penalty for Part A, you’ll pay it for twice as long as you go without Part A coverage. To voluntarily terminate your Medicare Part B (medical insurance) you may need to have a personal interview. Also a Social Security representative will help you complete Form CMS 1763. Kevin Leinum – your local Medicare Expert – can help you understand the many parts of Medicare and determine what the right fit is for you. Give me a call to discuss the options available to you.

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What are the Medicare Enrollment periods?

– Initial enrollment period The initial enrollment period is a seven-month period that includes three months before you turn 65, your birthday month, and three months after you turn 65. – Annual election period The Medicare annual election period (AEP) happens every fall from Oct. 15 to Dec. 7. During this time, you can join, drop or change Medicare coverage. – Medicare Advantage open enrollment This one-time change takes place between Jan. 1 to March 31. You must already be enrolled in a Medicare Advantage plan on Jan. 1. – General enrollment period There is a three-month window from Jan. 1 through March 31 annually where you can enroll in Medicare Part A and Part B for the first time if you missed signing up when you were first eligible, and you are not eligible for a special enrollment period. – Special enrollment period In some cases, you may be able to enroll in or switch to a plan outside of the initial enrollment period. This includes changes in your life situation, such as: You retire and leave a health care plan through your employer or union. You move out of your current health plan’s service area. Call Kevin Leinum – your local Medicare Expert about what Medicare covers or how enrolling in a Medicare Advantage or Medicare Supplement plan can improve your coverage and reduce your out-of-pocket costs.

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Do I have to Sign Up for Medicare at Age 65?

No. You don’t have to sign up for Medicare when you are 65. You can sign up for Part A and Part B at any time. You may want to sign up for Medicare when you are first eligible. This is when you first turn 65 and are suitable for Social Security benefits. When you do, signing up for Medicare will give you the most freedom to choose your health plan. You can keep your current health plan or enroll in a plan offered by Medicare. When you sign up for Medicare, you can also sign up for Part D drug coverage at the same time. If you have original Medicare and you want to keep it, you don’t have to sign up for Part D drug coverage. If you are already on disability and have Medicare, you don’t have to sign up for Part D drug coverage unless you want to. You should do it when you first become eligible if you want to sign up for Medicare Part A and Part B. Otherwise, if you enroll in Medicare later, you will have a seven-month wait before your coverage begins. Kevin Leinum – your local Medicare Expert – can help you understand the many parts of Medicare and determine what the right fit is for you. Give me a call to discuss the options available to you.

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Why is my first Medicare bill so high?

There can be several reasons. Medicare generally bills in 3-month increments if you don’t have your premiums automatically deducted from Social Security. Beneficiaries are responsible for multiple Medicare costs, including monthly premiums, deductibles, and coinsurance or copayments. Most Medicare beneficiaries collect Social Security benefits, and for these enrollees, Medicare premiums are deducted from their monthly Social Security check. But if you haven’t retired yet, you have to pay your bill directly to Medicare. Also, if you’re what Medicare terms a high earner, you may pay more for Medicare. Did You Delay Signing Up for Medicare? Your monthly premiums may be increased due to late enrollment penalties. These late enrollment penalties arise if you’re late signing up for Original Medicare (Medicare Parts A and B) and or Medicare Part D. These penalties are added to your Medicare Premium Bill and could be why your first Medicare bill was higher than you expected. These penalties may be offset by enrolling in a Special Enrollment Period (SEP). Call Kevin Leinum – your local Medicare Expert about what Medicare covers or how enrolling in a Medicare Advantage or Medicare Supplement plan can improve your coverage and reduce your out-of-pocket costs.

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Does Medicare Cover Antidepressants?

Medicare Part A and Part B will not cover antidepressants or other prescription drugs.  Since Medicare considers antidepressants a protected class of prescription medicine, all Medicare Part D and Medicare Advantage plans must cover a majority of antidepressants. However, you may have to switch from a brand-name antidepressant to a generic version depending on your Medicare Plan. Your options: – Purchase a separate Medicare Part D prescription drug plan that augments your Original Medicare coverage. – Purchase a Medicare Advantage plan that includes Part D benefits.  Either of these will provide you with Medicare coverage for antidepressants. To be eligible for coverage under these plans, you will need a doctor’s prescription for an antidepressant that has been approved for use by the U.S. Food and Drug Administration. You’ll also have to be under a doctor’s care to have your prescription renewed.  Kevin Leinum – your local Medicare Expert – can help you understand the many parts of Medicare and determine what the right fit is for you. Give me a call to discuss the options available to you.

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What is the Medicare Cross-over Option?

Medicare Cross-over is designed to eliminate some of the paperwork involved in filing medical claims. Some plans have an agreement with Medicare to crossover claims for any services that Medicare processed as primary. Medicare will automatically forward your Medicare Summary Notice (MSN) to those plans for services you receive throughout the United States. Claim forwarding is automatic for each person covered under Medicare when a plan participates in Medicare Cross-over. You do not need to complete a form or contact a plan to take advantage of crossover. Please contact your health plan or your Medicare insurance agent for more information. Call Kevin Leinum – your local Medicare Expert about what Medicare covers or how enrolling in a Medicare Advantage or Medicare Supplement plan can improve your coverage and reduce your out-of-pocket costs.

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When are Medicare Part B premiums going down?

For Medicare beneficiaries wondering whether their Part B premiums could be reduced, the waiting continues. – The Centers for Medicare & Medicaid Services continues to evaluate the Part B premium, given changes that have occurred since the monthly amount was set last year. – About half the rise in the premium was attributed to the potential cost of broadly covering Alzheimer’s drug Aduhelm. – If a premium reduction happens, there’s a chance it could be applied to 2023 instead of 2022. More than three months after Health and Human Services Secretary Xavier Becerra ordered a reassessment of this year’s $170.10 standard monthly premium — a bigger-than-expected jump from $148.50 in 2021 — it remains uncertain when a determination will come and whether it would affect what beneficiaries pay this year. If a premium reduction occurs, there’s also the chance it could be applied for 2023 instead of 2022. There have been year-to-year drops in the Part B premium in the past for various reasons, including legislative changes to how the premium is calculated. Kevin Leinum – your local Medicare Expert – can help you understand the many parts of Medicare and determine what the right fit is for you. Give me a call to discuss the options available to you.

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What does Medicare not cover?

Acupuncture Generally speaking, alternative medicine won’t be included. Cosmetic Surgery Unless a procedure will improve a body part’s ability to function, it won’t be covered by Medicare Custodial Care Custodial care is non-medical in nature. Due to this, it tends to be recommended by medical professionals but it isn’t required to be provided by medical professionals. Dental Care There are some exceptions to this rule, which are often dental care that need to be provided before some other kind of healthcare can be provided. Foot Care There are some exceptions for people who meet certain conditions. People who have some kind of structural problem with their foot might be covered. Foreign Travel Medicare doesn’t provide coverage for the overwhelming majority of scenarios in which Americans are getting healthcare outside of the United States. Hearing Aids Neither hearing aids nor the exams needed to fit hearing aids are covered by Medicare. Skilled Nursing Care Medicare does actually cover skilled nursing care for a short period of time, with 20 days being very common. 24-Hour Home Care Medicare provides coverage for some nursing as well as health aide services. Unfortunately, it won’t go as far as to cover 24-hour home care. Vision Care Routine vision care isn’t covered. However, people might have certain kinds of eye care covered under certain conditions.

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We do not offer every plan available in your area. Currently, we represent 8 organizations which offer 75 products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Assistance Program (SHIP) to get information on all of your options. This is a proprietary website and is not associated, endorsed, or authorized by the Social Security Administration, the Department of Health and Human Services or the Center for Medicare and Medicaid Services. This site contains decision-support content and information about Medicare, services related to Medicare and services for people with Medicare. If you would like to find more information about the Medicare program, please visit the Official U.S. Government Site for People with Medicare located at http://www.medicare.gov.

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