Every day, we interact with insurance companies on behalf of clients to resolve billing issues and get answers to plan-related questions. We know first-hand that contacting large companies can sometimes be tricky, which is why we are always ready to make those calls on your behalf. However, if you prefer to call your insurance company directly, we’ve compiled some of…
Medicare Advantage plans are health insurance plans offered by private insurance companies. There are two primary types of plans: Medicare Advantage (MA) and Medicare Advantage with Prescription Drug Coverage (MAPD). You may recognize these types of plans, as they’re a popular choice among retirees because of their convenience and wide range of extra benefits. At their core, MA and MAPD…
As individuals approach age 65, there are often questions surrounding one’s initial enrollment period and the risk of being “penalized” for not enrolling on time. Whether you are gearing up for retirement or are planning to work past 65, below is everything you need to know about Late Enrollment Penalties. What is a Late Enrollment Penalty (LEP)? A Late Enrollment…
RetireMEDiQ strives to keep individuals informed about the latest Medicare news. Each month, we recap the top information consumers need to know about recent developments in the Medicare industry and how it may affect you. Insulin Copays Capped at $35 Under Part D Senior Savings Model Caps The Centers for Medicare and Medicaid Services (CMS) recently announced that this year’s…
There’s no doubt that health has been on many people’s minds throughout 2020. The events and challenges so far this year might leave you questioning the future of health care, but our experts at RetireMEDiQ are predicting at least one consistency for the year ahead: the continued growth of Medicare Advantage (MA) and Medicare Advantage with Prescription Drug Coverage (MAPD)…
Medicare Advantage plans with prescription drug coverage, also called MAPDs, offer a streamlined way to manage medical costs and coverage with a single plan. Original Medicare, which includes Medicare Parts A and B, offers a great base of health care coverage, but it leaves out several benefits that are important to seniors. MAPDs often fill that gap with coverage for…
Medicare is confusing, and it becomes even more so when deciding whether to pair it with another health care coverage option. A common question we receive at RetireMEDiQ is, “Can I use COBRA as my health coverage plan if I am 65 and older and am no longer employed?” The answer: it depends. The Consolidated Omnibus Budget Reconciliation Act (COBRA)…
If you’re feeling overwhelmed by Medicare and the enrollment process, you’re not alone. With so many plan options available, it’s hard to know where to begin in selecting the plan that is right for you. Our team of expert advisors have compiled a list of commonly asked questions to help you feel more comfortable with the transition to Medicare.1. How…
As each year progresses, many retirees with high medication expenses worry about entering the Medicare Part D Donut Hole. What is the Donut Hole? The formal term for this period is called the “coverage gap.” It was originally called the donut hole or coverage gap because it refers to a gap in Medicare Part D prescription coverage. When Medicare beneficiaries reach this…
RetireMEDiQ strives to keep individuals informed about the latest Medicare news. Each month, we recap the top information consumers need to know about recent developments in the Medicare industry and how it may affect you. Expanded Telehealth Services to be Continued In response to the coronavirus outbreak in the United States, the Centers for Medicare and Medicaid Services (CMS) in…
