Answers for InsuranceLibrary.comTodd Reagin - Independent Insurance Agent - Maine Medicare Options

Answer on Can I Decline Part A Medicare? by Todd Reagin

Todd Reagin — Tue, 23 Jan 2018 19:02:10 +0000

Yes, if you are not collecting your Social Security benefits you can delay both your Part A and Part B enrollments. You cannot decline Part A while collecting Social Security benefits. Since Part A does not have a monthly cost for most people it is rare that someone would decline enrollment. However if you have an employer plan and you contribute to an HSA as part of your health insurance plan than you might want to postpone enrolling in Part A. The takeaway here is that you should delay Social Security benefits and decline Part A if you wish to continue contributing funds to your HSA. To read more about this go to https://www.mainemedicareoptions.com/blog/medicare-health-savings-accounts

Answer on Does Medicare Part D Cover Cymbalta? by Todd Reagin

Todd Reagin — Tue, 23 Jan 2018 18:57:44 +0000

Yes. 100% of Medicare Part D and Medicare Advantage plans in Maine and New Hampshire cover the generic version of this drug, Duloxetine Hcl. Copays can range anywhere from $0 to $20 depending on which coverage stage of Part D are you in? To learn more about the different stages and to find answers to some commonly asked questions about the infamous "Donut Hole" you can click here: https://www.mainemedicareoptions.com/blog/medicare-part-d-donut-hole-questions-answers

Answer on How Are Medicare Part B Premiums Determined? by Todd Reagin

Todd Reagin — Sun, 12 May 2013 16:59:38 +0000

Medicare premium rates come out each fall and take effect in January. Medicare beneficiaries as a group are required to pay one-fourth the cost of running Medicare, and annual premiums are set at a figure calculated to achieve that level of revenue. In other words, Medicare beneficiaries receive a 75% subsidy for Part B, with every $1 in Part B premiums for enrollees matched by $3 in general revenues. Although the annual premium rates aren't officially set until they are announced each fall, Medicare administrators track trends and anticipated changes and use them to formulate projections of Medicare premiums for the next several years. According to the most recent report (https://www.cms.gov/ReportsTrustFunds/downloads/tr2011.pdf) of the system's trustees, issued in May 2011, those projected premiums (as listed on page 218) are: 2014: $115.80 2015: $120.80 2016: $126.00 2017: $132.70 2018: $140.30 2019: $148.40 2020: $158.60 There was a scary email going around last year about Obamacare causing Medicare premiums to skyrocket. I did some research and found the information in that email to be completely untrue. This is how I learned about how Medicare premiums were determined. You can read more about the email and what I uncovered on my blog at: https://www.mainemedicareoptions.com/content/beware-scare-tactics-about-obamacare

Answer on Will Medicare Cover Hospice In A Nursing Home? by Todd Reagin

Todd Reagin — Fri, 10 May 2013 14:00:55 +0000

Yes! Depending on your condition, you may get hospice care in a Medicare-approved hospice facility, hospital, nursing home, or other long-term care facility. The hospice benefit with Medicare allows you and your family to stay together in the comfort of your home unless you need care in an inpatient facility. If the hospice team determines that you need inpatient care, the hospice team will make the arrangements for your stay. Hospice care is intended for people with 6 months or less to live if the disease runs its normal course. You can get hospice care for two 90-day benefit periods, followed by an unlimited number of 60-day benefit periods. A benefit period starts the day you begin to get hospice care and it ends when your 90-day or 60-day period ends. You have the right to change providers only once during each benefit period At the start of each period, the hospice medical director or other hospice doctor must re-certify that you’re terminally ill, so you can continue to get hospice care. If you live longer than 6 months, you can still get hospice care, as long as the hospice medical director or other hospice doctor re-certifies that you're terminally ill. You can read more details about Hospice Care & Medicare on my blog at https://www.mainemedicareoptions.com/content/hospice-care-medicare