New Medicare choices in 2017 could mean better coverage for less money !
Medicare Changes for 2017
By Tucker Thompson
Because the impact some of these changes can have on both your healthcare and checkbook , thorough reviews are recommended ! Highlights are mentioned , with special emphasis on checklists to help better understand your choices .
While most Medicare recipients still won ’ t pay any “ monthly premiums ” for Part A in 2017 , patient responsibilities per benefit period will include a $ 1,316 “ deductible ” for hospital stays from one to 60 days and $ 164.50 “ coinsurance ” after 20 days for skilled nursing facility stays . Part B “ monthly premiums ” will be $ 134 this year , with final figures income based . Additional patient costs include this year ’ s $ 183 annual deductible and 20 % of your Medicare approved bill .
To help offset costs , Medicare supplements or Part C [ including Advantage Plans , HMOs , PPOs , PFFS ] offer additional coverage seniors can buy . While some plans can save you thousands , others can cost you thousands !
When reviewing plans :
• Make sure your doctors accept the plan .
• Carefully review the coverage , monthly premiums , deductibles , & co-pays .
• Ask what the maximum , worse case out of your pocket is .
• Check at least one other company ’ s plans for comparison !
• Look at company support systems –– an 800 number –– with or without a local agent .
Prescription Drug Plans [ Part D ] for 2017 have made changes to their formularies , their premiums , and deductibles may be as high as $ 400 , and co-pays .
When reviewing Prescription Drug Plans :
• Make sure your prescriptions are on the plans formulary !
• Estimate expected annual costs for your prescriptions .
• Are there savings using “ mail order ” or buying 90 day supply ?
• What ’ s the monthly premium ? Include any deductibles !
• Are “ preferred pharmacies ” convenient for you ?
For 2017 “ the gap / donut hole ” is between $ 3,700 and $ 4,950 . You ’ re responsible for paying 40 % of your brand name drugs and 51 % of your generic drugs while in this “ gap / donut hole .”
The Cost of Living Adjustment [ COLA ] for Social Security participants is . 0003 % for 2017 .
With so many moving parts to Medicare , seeking help from an experienced independent agent who specializes in Medicare plans and is licensed with several companies can be indispensable !
Tucker Thompson , CSA , has worked in the insurance field for over 24 years in Life Insurance , Long-Term Care , Medicare Supplements , Medicare Advantage Plans , and Prescription Drug Plans .
New Medicare choices in 2017 could mean better coverage for less money !
You can apply to change a Medicare supplement policy anytime during the year !
( 972 ) 548-1629
Senior Life Division
Medicare Plans
Medicare Supplements Health Insurance Long-Term Care Policies Life Insurance
Benchmark Financial Services is a local company with a Senior Life Division dedicated to helping seniors review & find Medicare healthcare and prescription plans that best fit each individual ’ s needs . With a strong commitment to offer independent , unbiased advice , we are licensed with over 30 national companies and are not “ employed ” by any of these companies whose plans we might recommend .
Your Local Agent : Tucker Thompson Certified Senior Advisor
28 DENTON COUNTY Living Well Magazine | MARCH / APRIL 2017