Monthly Archives

May 2013

Mid year checkpoint for Part D

By Making the Most of your Medicare No Comments

As we approach the middle of the year, now is a good time to review your Part D plan.  Even though the Annual Enrollment Period runs from 10/15/13 – 12/07/13, a little maintenance now can provide more money in your pocket later in the year. Every Medicare Part D plan has the “donut hole” embedded in it.  The donut hole starts when total drug costs exceed $2,970 (2013 figures).   The $2,970 is calculated off of the actual cost of a prescription, not the amount of your co pay.  For example Nexium, an acid reflux prescription, might be a $35/month co pay at a pharmacy.  The actual cost of Nexium is around $150/month.  The amount that counts to the $2,970 is the $150.  This is important to keep in mind because your annual costs can add up much faster than you realize.   Here is a detailed explanation. What to do now – Since…

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Medicare: A Bigger Mountain than Everest

By Uncategorized No Comments

America has always feared socialism.  We like our independence and freedom.  Because of this, it is no wonder that it took 20 years from the initial suggestion of a federally funded insurance program to the actual implementation of this program.  Having been the first president to suggest a national health care program, Harry S. Truman was the first recipient of what is now known as Medicare.  The Medicare program was signed into law on July 30, 1965 by President Lyndon B. Johnson.  Commenting on the landmark bill, President Johnson said, “We marvel not simply at the passage of this Bill but that it took so many years to pass it.” In order to qualify for Medicare, you must fall into one of the following categories:  American citizens age 65, citizens on disability for 24 consecutive months regardless of age, or having end stage renal disease (ESRD).  Currently, the Medicare program…

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