Medicare Part D 2012 Preview

CMS or Centers for Medicare and Medicaid Services released the new Medicare Part D numbers for 2012 in April of this year.  These numbers translate to the deductibles and new Coverage Gap amounts that will be applied to Medicare Part D plans in 2012.  The three areas that are affected are the Medicare Part D Standard Deductible, the Initial Coverage Limit, and the Out of Pocket threshold.Medicare Part D 2012 Preview

Medicare Part D Deductible Will Increase for 2012

As expected there will be an increase in the Medicare Part D deductible of $10.  This increase takes the deductible for $310 to $320.  This translates to a slightly higher cost for those beneficiaries that take a standard model part D drug plan for 2012.  These plans typically have lower monthly premiums because the deductible has to be paid first by the beneficiary before the co-pays start.

Medicare Donut Hole to Change for 2012

The Donut Hole or Coverage Gap for Medicare Part D changes on a yearly basis, and 2012 is no different.  In 2012 Medicare beneficiaries will go into the coverage gap at $2,930.  This is a $90 increase from the 2011 amount of $2,840.  This increase is actually good for Medicare beneficiaries because it means it will take longer to reach the gap.  Of course, the flip side of this is the out of pocket limit that you must reach on the other side in order to get out of the gap.  That amount increased $150 from $4,550 to $4,700.  If you’re following the math you’ll see there was a net increase of $50 for those people who hit the donut hole and come out of it during the year.  You can research the best Medicare Part D drug plan at www.medicare.gov

How to Avoid the Part D Medicare Donut Hole

Medicare Part D

5 Tips For Shopping Your Medicare Coverage

As your well aware by now, the Medicare AEP, Annual Election Period, is in full force.  The AEP runs from October 15 – December 7 and allows you to make changes to your current Medicare Advantage and Prescription Drug coverage.  Any changes that you make during this time will go into effect January 1st.  Making these […]

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Shop Your Medicare Plan During The 2015 Open Enrollment

Nobody likes change and that holds especially true when it comes to insurance.  The worst thing you can do, however is nothing!  That’s because Medicare coverage is changing every year, and that holds true in 2015 as well.  So even if you do nothing, your coverage is changing without you whether you like it or […]

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Every year the Medicare AEP or Annual Election Period arrives with much anticipation.  You may not know when it starts or what you can do, but you will definitely know it’s here when you start seeing the plethora of television, print ads, and billboards touting the latest and greatest coverage. 2015 Medicare AEP The 2015 […]

2015 Medicare Advantage And PDP Plans Now Available

You are now able to find every Medicare Advantage and Prescription Drug Plan available for 2015.  When I started the Medicare Plans site, my goal was to be able to bring you the ability to search and find any Medicare plan that was available.  This process was a long and difficult one, but now the […]

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Formulary List Do’s and Don’ts

When it comes to Medicare, the one thing you can NOT overlook is the Formulary list that is provided by the insurance company.  Many times we find ourselves caught up in copays and provider networks that we forget to do one of the most important things.  Check the plan’s formulary list to make sure your […]

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