Medicare
Medicare 101 Talks
Explore our products to learn more about your insurance options, and receive a quote within minutes. Topics covered can include:
• Medicare 101- where navigating the complexities of healthcare becomes clear and accessible! Whether you're nearing retirement or helping a loved one understand their options, attendees will gain valuable insights into Medicare. Dive into topics around Medicare Parts A, B, C, and D, as well as enrollment periods and coverage distinctions. This talk aims to demystify Medicare, empowering you to make informed decisions with confidence and ease.
• Health Insurance Options
• Custom healthcare navigation
• Compliance with the Affordable Care Act
• Self-insured strategies
• Wellness Program Integration
• Health incentives for employees
Changes to Medicare Part D in 2024 and 2025 Under the Inflation Reduction Act and How Enrollees Will Benefit
The Inflation Reduction Act is capping Out-of-pocket drug spending will at $2,000 - Beginning in 2025, Part D enrollees’ out-of-pocket drug costs will be capped at $2,000. Employers should be aware their pharmacy benefits may soon not be considered "Credible Coverage." If not - employees over 65 must obtain a Part D Plan, or they will be penalized when they do. Beneficiaries must be enrolled in Part A ($0) and/or Part B (Premiums start at $164.90) to purchase a Part D Plan. If contributing to an HSA, you must stop contributions 6 months before you enroll in Part A or B. I am currently scheduling Medicare 101 talks - please email me to learn if this would benefit your group! Learn more about the upcoming changes!
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PACE and PACENET aim to provide low-cost prescription medication to qualified Pennsylvania seniors.
To qualify for PACE (Pharmaceutical Assistance Contract for the Elderly) and PACENET, you need to meet specific criteria.
- Age: You must be 65 years or older.
- Residency: You must be a Pennsylvania resident for at least 90 consecutive days before applying.
- Income: Your eligibility is determined based on your previous calendar year’s income.
- PACE Income Limits:
- For a single person, the total income must be $14,500 or less.
- For a married couple, the combined total income must be $17,700 or less.
- PACENET Income Limits:
- For a single person, the total income can be between $14,500 and $33,500.
- For a married couple, the combined total income can be between $17,700 and $41,500.
- PACE Income Limits:
- Medicaid Enrollment: You cannot be enrolled in the Department of Human Services’ Medicaid prescription benefit.
To apply, you have several options:
- Phone: Call 1-800-225-7223 to apply by phone. Make sure to have your income and insurance information available.
- Online: Visit PACECares to complete an online application.
- Paper: Print an application and send it via mail, fax, or email:
- Mail: PACE/PACENET, PO Box 8806, Harrisburg, PA 17105-8806
- Fax: 1-888-656-0372
- Email: papace@magellanhealth.com
Turning 65?
A question I’m commonly asked is – I’m turning 65! Do I need to enroll in Medicare?
The answer is – it depends.
If you are on a group employer plan or your spouse’s group employer plan that has more than 20 employees, do you do not need to enroll in Medicare A or B.
If you are not contributing to a Health Savings Account, you may choose to enroll in Medicare Part A through the Federal Govt, via the Social Security website. Part A will be $0 and may be used as additional hospital coverage, if you choose.
Once you lose employer coverage, you will then have a Special Enrollment Period to enroll in Medicare Parts A & B through the Federal Govt, and choose a Medicare Advantage or Medigap plan. The recommended time frame for this process is 3 months, but could be done in about 4-6 weeks.
When you know your anticipated retirement date, be sure to confirm your last day of coverage so that you can line up A & B to begin the first day of the next month.
Check out the article from CMS.GOV in the comment link.
#turning65 #medicare