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The 2022 annual Medicare Open Enrollment Period (AEP) ends December 7th. After December 7th, most people will only have a limited opportunity to change their 2022 Medicare prescription drug plan coverage before next year’s 2023 AEP.

Since 2020, the Income-Related Monthly Adjustment Amount (IRMAA) income brackets are inflation adjusted.  Consequently, people with an annual income under $170,000 who are at the low end of thei . . .

On November 12, 2021, Medicare announced that Medicare Part A and Medicare Part B premiums and deductibles would increase in 2022.  The Medicare Part B premium increases were rather large as comp . . .

Over 30 million people have access to a 2022 Medicare Advantage plan with a 5-Star quality rating - and this means these people have the option of using the Special Enrollment Period (SEP) to change t . . .

No.   Not only can Medicare prescription drug plans have different drug tier definitions, but drug plans do not always place the same medications on the same formulary tiers (or have similar co . . .

Many people are reluctant to change their Medicare Part D or Medicare Advantage plan year-to-year. However, millions of beneficiaries will see significant changes in their 2022 Medicare costs and coverage. Use this list to help you look for possible change in your coverage.

Each Medicare Part D plan has a national pharmacy network that includes 50,000 to 65,000+ pharmacies and both "preferred" and "standard" pharmacies can be included in a Medicare prescription drug pl . . .

With each new plan year - and throughout the plan year - your Medicare Part D plan (PDP) or Medicare Advantage plan that provides prescription coverage (MAPD) can change their formulary or drug list, . . .

If your stand-alone Medicare Part D prescription drug plan (PDP) - or Medicare Advantage plan that includes drug coverage (MAPD) - has an initial deductible, you will usually pay 100% of your prescr . . .

Based on current enrollment, 13.6 million Medicare beneficiaries will see their stand-alone 2021 Medicare Part D premiums increase in 2022 - with almost 4.4 million Medicare beneficiaries seeing at least a 20% increase in their monthly premium.

Over 190,000 people are currently enrolled in non-renewing 2021 Medicare plans and will lose their 2022 Medicare plan coverage unless they choose to enroll in a different 2022 Medicare Part D or Medicare Advantage plan.

As in past years, some 2021 Medicare Part D plans are changing their cost-sharing designs for 2022 prescription drug purchases.  Cost-sharing is what you will pay for your Medicare Part D formu . . .

Twenty-six 2021 Medicare Advantage plans that offer drug coverage (MAPDs) will have an ICL over the standard $4,430 and 72 MAPDs will have an ICL under $4,430.

The 2022 Medicare Part D and Medicare Advantage plan annual Open Enrollment Period (AEP) begins today, October 15th, and continues through December 7th. During the next seven weeks, you can add, change, or drop your 2022 Medicare Advantage plan or Medicare Part D plan.

The Social Security Administration announced on October 13, 2021 that "Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 5.9 percent . . .

The 2021 Federal Poverty Level (FPL) Guidelines determine the income level requirements for people applying for the Medicare Part D Low-Income Subsidy (LIS) program, also known as the "Extra Help" program that helps pay Medicare prescription drug costs.

The Income-Related Monthly Adjustment Amount (IRMAA) income brackets became inflation adjusted in 2020.  Consequently, people with an annual income under $165,000 who are at the low end of their . . .

CMS released the 2021 low-income premium subsidy amounts (or Benchmark premiums) for Medicare Part D plans on July 29, 2020. In 2021, four regions will lower their Medicare Part D Low-Income Subsidy (LIS) benchmark premiums and 30 regions will increase their benchmark premium.

On January 15, 2021, the Centers for Medicare and Medicaid Services (CMS) released the final 2022 Announcement that included the 2022 defined standard benefits for Medicare Part D prescription drug plan coverage.

If the retail value of your formulary drug purchases are over $345, you will enter the 2021 Donut Hole and, as was true in 2020, you will receive a 75% discount for all formulary drugs while in the Coverage Gap.

The 2020 Federal Poverty Level (FPL) Guidelines determine the income level requirements for people applying for the Medicare Part D Low-Income Subsidy (LIS) program, also known as the "Extra Help" program that helps pay Medicare prescription drug costs.

If the total retail cost of your formulary medications is over $345 per month, you will exceed your Medicare Part D plan's $4,130 Initial Coverage Limit and enter the Donut Hole or Coverage Gap sometime in 2021.

On February 5, 2020, the Centers for Medicare and Medicaid Services (CMS) released the 2021 Advance Notice and Draft Call Letter that included the 2021 proposed defined standard benefits for Medicare Part D prescription drug plan coverage - and proposed changes to Medicare plans.

Starting in 2020, the Income-Related Monthly Adjustment Amount (IRMAA) income brackets will be adjusted for inflation.  Consequently, people at the low end of their 2019 IRMAA income bracket wil . . .

CMS released the 2020 low-income premium subsidy amounts (or Benchmark premiums) for Medicare Part D plans on July 31, 2019, and in 2020, 33 regions will lower their Medicare Part D Low-Income Subsidy (LIS) benchmark premiums and only 1 region will raise their benchmark premium.

The Donut Hole (or Coverage Gap) is a term used to describe a "gap" or pause in your Medicare Part D prescription drug coverage where - prior to 2011 - you were 100% responsible for the cost of your . . .

Updated  2/5/2020 See:  2020 Federal Poverty Level Guidelines (FPL): 2020 LIS Qualifications and Benefits   (https://Q1News.com/812.html) The 2019 Federal Poverty Level (FPL) Guidel . . .

On April 1st, the Centers for Medicare and Medicaid Services (CMS) released the 2020 Announcement and Final Call Letter that includes the defined standard benefits parameters for 2020 Medicare Part . . .

Medicare Part D prescription drug plans expressly excludes coverage for vitamins - although some Medicare plans do cover "excluded" drugs such as B-12 vitamin injections as "Bonus" or Supplemental dru . . .