Client Reminders
If you purchased a Medicare Supplement aka Medigap plan from Mike, you are in good hands but there was a lot of information exchanged at your meeting. Here are some of the most important points to remember…
Medicare Is Your Primary Insurance
Remember, Medicare is your insurance and you need to tell that to the doctors offices. If your doctor accepts Medicare, that is all that matters. Be sure to show both cards (Medicare and Supplement plan) and tell them “Medicare” is your primary insurance. Medicare is a national network of doctors and hospitals. You do not need referrals.
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The Annual Enrollment Period to “shop” for new prescription coverage is Oct 15-Dec 7th.
That is when you can pick a new plan and enroll into the plan effective Jan.1st of the upcoming calendar year.
You can either watch the above video or follow the instructions below…
Go to www.Medicare.gov
- Scroll down and click “find health and prescription plans“
- Next page click “Continue without logging in” in center of page
- Next page check circle for “Drug Plan part D” then below (in box) input your zip code. Then below that, check the circle “I dont get help from any of these programs”
- Next page click “yes I want to see the cost of drugs when I compare”. Then below check the box for “retail pharmacy”.
- Next page, begin typing in the name of your prescription, when it appears, click “add drug”, then a page will appear asking the dosage and frequency (Ex. atorvastatin 10mg 30/month). Be sure to put accurate info here. Continue adding drugs until your list is complete, then click “Im done adding drugs”.
- Next page, scroll down and the website will list pharmacies close to your home, pick the one you would use by checking “add pharmacy”. Then click the “DONE” button on the bottom right had side of the page.
- The results page will list all the plans available, you should pick the top plan (in my opinion) unless it has less than 2 stars, then pick the next plan. There is a button to “enroll” next to the plan name. Click that button to enroll and follow the screen prompts.
- By enrolling in the new plan, your current prescription coverage will automatically be terminated Jan 1st, the same day your new plan takes effect.
Other Important Reference Information
2025 part B premium and deductible info:
On November 8, 2024, the Centers for Medicare & Medicaid Services (CMS) released the 2025 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs, and the 2025 Medicare Part D income-related monthly adjustment amounts.
Medicare Part B Premium and Deductible
Medicare Part B covers physicians’ services, outpatient hospital services, certain home health services, durable medical equipment, and certain other medical and health services not covered by Medicare Part A.
Each year, the Medicare Part B premium, deductible, and coinsurance rates are determined according to provisions of the Social Security Act. The standard monthly premium for Medicare Part B enrollees will be $185.00 for 2025, an increase of $10.30 from $174.70 in 2024. The annual deductible for all Medicare Part B beneficiaries will be $257 in 2025, an increase of $17 from the annual deductible of $240 in 2024.
IRMAA (Income Related Monthly Adjustment Amount) charts for 2025 part B premiums and part D premiums below:
