Q1Medicare.com - Latest Medicare News

Nov, 26 2022 — 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 2023 Medicare costs and coverage. Use this list to help you look for possible change in your coverage.

Nov, 25 2022 — The 2023 annual Medicare Open Enrollment Period (AEP) ends December 7th. After December 7th, most people will only have a limited opportunity to change their 2023 Medicare prescription drug plan coverage before next year’s 2024 AEP.

Nov, 09 2022 — Choosing between a Medicare Advantage plan and a Medicare Supplement (Medigap) is a very personal decision, but the following example may help identify some of the important issues surrounding these t . . .

Nov, 02 2022 — Over 31 million people have access to a 2023 Medicare Advantage plan with a 5-Star quality rating - and this means these people have the option of using the 5-Star Special Enrollment Period (SEP) to c . . .

Oct, 21 2022 — As in past years, some 2022 Medicare Part D plans are changing their cost-sharing designs for 2023 prescription drug purchases - and such changes will affect what you pay when purchasing formulary drugs at a network pharmacy.

Oct, 20 2022 — More Medicare Part D plans use preferred network pharmacy pricing with about 98% of all stand-alone 2023 Medicare prescription drug plans (PDPs) using different cost-sharing for preferred vs. standard network pharmacies (as compared to 97% of all PDPs in 2022).

Oct, 20 2022 — Although Medicare drug plans often reduce the size of their formularies year-to-year, almost 3.8 million Medicare beneficiaries will see at least 100 medications added to their 2023 Medicare Part D drug plan's formulary.

Oct, 19 2022 — Almost 3 million people are currently enrolled in non-renewing 2022 Medicare plans and 1.4 million people will lose their 2023 Medicare plan coverage unless they choose to enroll in a different 2023 Medicare Part D or Medicare Advantage plan.

Oct, 19 2022 — Based on current enrollment, 11.9 million Medicare beneficiaries will see their stand-alone 2022 Medicare Part D premiums increase in 2023 - with almost 2.7 million Medicare beneficiaries seeing at least a 20% increase in their monthly premium.

Oct, 18 2022 — 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 . . .

Oct, 15 2022 — The 2023 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 2023 Medicare Advantage plan or Medicare Part D plan.

Oct, 14 2022 — The Social Security Administration announced on October 13, 2022 that "Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 8.7 pe . . .

Oct, 09 2022 — In 2023, over 3,008 counties (or ZIP Code areas) include at least one Medicare Advantage plan with a Part B premium "Giveback" - and 1,283 counties offer at least one $0/$0 Medicare Advantage (MAPD) plan with a Part B premium "Giveback".

Oct, 08 2022 — The 2023 Medicare Advantage plan information recently released by the Centers for Medicare and Medicaid Services (CMS) shows that Medicare beneficiaries can expect more Medicare Advantage plans in many areas across the country with continued low monthly premiums.

Oct, 05 2022 — 2023 Q1Medicare.com Part D Plan Finder, Medicare Advantage Plan Finder, and other online tools have been updated with the 30-day drug cost-sharing; formulary size; full- and partial-LIS premiums; and Medicare Advantage plan health care and supplemental benefits.

Jan, 16 2022 — The 2022 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

Mar, 01 2022 — If you are eligible for Medicare and having difficulties paying for your prescription drugs, you may want to learn more about the Medicare Part D Extra-Help program by calling or visiting a local stat . . .

Jul, 29 2021 — CMS released the 2022 low-income premium subsidy amounts (or Benchmark premiums) for Medicare Part D plans on July 29, 2021. In 2022, two regions will lower their Medicare Part D Low-Income Subsidy (LIS) benchmark premiums and 32 regions will increase their benchmark premium.

Nov, 13 2021 — 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 . . .

Jan, 16 2021 — 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.

Jul, 30 2020 — 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.

Nov, 06 2020 — 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 . . .

Oct, 03 2020 — You can find the WellCare Medicare Part D (PDP) pharmacy search and Medicare Advantage plan provider search tool at:  (1)  https://www.wellcare.com/PDP (2)  Look in the upper-rig . . .

Mar, 07 2022 — The Centers for Medicare & Medicaid Services (CMS) released a compilation of the BIN and PCN values for each 2022 Medicare Part D plan sponsor.  Please note, the data below is Part 1 of 6 (E0 . . .

Jan, 15 2021 — 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.

Jul, 29 2021 — If the retail value of your formulary drug purchases are over $370, you will enter the 2022 Donut Hole and, you will receive a 75% discount for all formulary drugs while in the Coverage Gap.

Apr, 06 2020 — On April 6, 2020, the Centers for Medicare and Medicaid Services (CMS) released the final 2021 Announcement that included the 2021 defined standard benefits for Medicare Part D prescription drug plan coverage.

Feb, 06 2020 — 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.

Jul, 13 2021 — If the total retail cost of your formulary medications is over $370 per month, you will exceed your Medicare Part D plan's $4,430 Initial Coverage Limit and enter the Donut Hole or Coverage Gap sometime in 2022.