Category: News

Let’s show our HEART a little more Love!  Cardiac health is a vital aspect of overall well-being, and Cardiac Rehab Week serves as a poignant reminder of the importance of maintaining a healthy heart. This annual celebration not only highlights the significance of cardiac rehabilitation but also emphasizes the important role your Medicare coverage can play at maintaining heart health. Join us as we explore Cardiac Rehab therapy and ‘heart healthy’ benefits under Medicare, and tips on how to show your heart a little extra love through a healthier lifestyle.

Understanding Cardiac Rehab Week

Cardiac Rehab Week, observed annually, aims to raise awareness about cardiac rehabilitation and its positive impact on individuals recovering from heart-related conditions. Did you know that cardiac rehabilitation can reduce the risk of death from heart disease by up to 25%?  It also provides an opportunity to acknowledge the efforts of healthcare professionals, support systems, and patients who contribute to the success of cardiac rehabilitation programs.

Medicare’s Role in Supporting Cardiac Health:

• Medicare covers cardiac rehabilitation programs for eligible beneficiaries.
• Cardiovascular Disease Screenings Coverage
• Cardiovascular Disease Treatment Coverage
• Cardiovascular behavioral therapy (Medicare Part B)
• Medical Equipment: Medicare may cover durable medical equipment like blood pressure monitors or cardiac monitors prescribed by your doctor.
• Medications: Medicare Part D provides coverage for medications prescribed to manage heart conditions, such as high blood pressure or cholesterol.

Your costs in Original Medicare: You pay nothing for the tests if your doctor or other health care provider accepts the assignment.

Costs under Medicare for cardiac rehab vary depending on the location and will include the Part B deductible.  The costs under Medicare often depend upon where you are participating in cardiac rehab. The Part B deductible will apply.

What Diagnosis Qualifies for Cardiac Rehab?

Medicare will cover the costs of cardiac rehabilitation, providing you have a certain medical diagnosis. These include:

• Having had a heart attack in the past 12 months.
• History of coronary artery bypass surgery
• Currently stable angina (chest pain)
• History of a heart valve repair or replacement
• History of coronary angioplasty to open a blocked artery or place a stent
• History of a heart or heart-lung transplant
• Stable, chronic heart failure

Heart-Healthy Lifestyle Choices for Seniors:

Tips on how to show your HEART a little extra LOVE!

According to a recent 2024 study by the American Heart Association, the average age at first heart attack is 65.6 years for males and 72.0 years for females. This highlights the critical importance of maintaining heart health as we age

By taking advantage of Medicare’s coverage for cardiovascular screenings and wellness visits, along with adopting heart-healthy lifestyle choices, we can empower ourselves to lead healthier, happier lives.

Let’s continue to prioritize our heart health, not just during this special week, but every day of the year. Together, we can make a difference in our cardiovascular health and inspire others to do the same. Here’s to strong hearts and healthier tomorrows!

To learn more about your Medicare benefits, please contact our office today and we would be happy to schedule a plan review with you to ensure you are getting the most out of your benefits! You can also visit our website to schedule an appointment with us.

Get the most of your coverage so you can LIVE YOUR BEST LIFE!

When it comes to Medicare, there’s more than meets the eye. In this blog, we’ll explore 15 lesser-known services covered by Original Medicare, with a focus on Original Medicare Part B. Whether you’re a new beneficiary or a seasoned one, understanding these services can help you make the most of your coverage.

1. Welcome to Medicare Preventive Visit
   • Upon enrolling in Medicare, you’re entitled to a Welcome to Medicare visit. This comprehensive checkup with your Medicare-covered primary care physician establishes a baseline for your health and sets the stage for your upcoming health management plan.
2. Yearly Wellness Visits
   • In addition to the initial visit, Medicare covers an annual wellness visit with your primary care physician. This dedicated checkup ensures that your overall health is on track and allows for a review of your care plan.
3. Counseling to Quit Smoking
   • If you’re looking to quit smoking, Medicare has your back. Coverage includes up to eight face-to-face counseling sessions per year with a healthcare provider to support your journey to a tobacco-free life.
4. Flu Shots
   • Protect yourself from the flu with Medicare-covered flu shots, available at your doctor’s office or local pharmacy. Combined with good hygiene practices, flu shots are a powerful defense against influenza.
5. Nutrition Therapy Services
   • For those with qualifying conditions like diabetes or kidney disease, Medicare may cover nutrition therapy services. This includes assessments and individual and/or group nutritional therapy services.
6. Alcohol Misuse Screening & Counseling
   • Address alcohol misuse with Medicare’s coverage for annual screenings. If necessary, you can receive up to four face-to-face counseling sessions per year to help you manage your alcohol usage.

Note: You must get the counseling in a primary care setting. For example, like a doctor’s office.

7. COVID-19 Vaccination and Boosters
   • Stay protected from COVID-19 with Medicare-covered vaccinations and boosters. Accessible at your doctor’s office or local pharmacy, getting vaccinated not only safeguards you but also contributes to community health.
8. COVID-19 Tests (Including Antibody Tests)
   • Medicare covers all types of COVID-19 tests, ensuring you can get tested if you feel unwell. This includes at-home rapid tests and antibody tests to assess your potential immunity.
9. COVID-19 Monoclonal Antibody Treatments
   • If you test positive for COVID-19 with mild to moderate symptoms, Medicare covers monoclonal antibody treatments to help fight the virus and avoid hospitalization.
10. Obesity Screening & Counseling
    • Medicare Part B covers obesity screenings and counseling for individuals with a BMI of 30 or more. Work with your healthcare provider to focus on diet and exercise for a healthier lifestyle.

11. Gender-Specific Cancer Screenings
    • Medicare covers specific cancer screenings for both men and women, including prostate cancer screenings for men and mammograms/Pap smears for women.
12. Diabetes Self-Management Training
    • Newly diagnosed with diabetes? Medicare offers coverage for diabetes self-management training to help you cope with and manage your condition effectively. Medicare may cover up to 10 hours of this initial training – 1 hour of individual training and 9 hours of group training.
13. Special Footwear for Diabetes
    • For those with diabetes, Medicare may cover therapeutic shoes and inserts prescribed by an approved podiatrist to address foot neuropathy.
14. Colorectal Cancer Screenings
    • Medicare covers various diagnostic screenings for colorectal cancer, including stool DNA tests and colonoscopies. Regular screenings are essential for early detection.
15. Depression Screenings
    • Seniors can benefit from Medicare’s yearly depression screenings at no cost. If needed, referrals to mental health professionals or prescription options may be recommended.

Understanding your Medicare coverage is crucial for managing your health. These 15 covered services ensure that you receive the necessary screenings, tests, and support for a healthier and happier life. If you have questions about your coverage or want to explore additional options, feel free to reach out to our office at (631) 476-4015.

Life insurance, often perceived as a complex and perplexing topic, is a crucial pillar of financial planning. It’s not just about providing for your loved ones after you’re gone; it’s about making strategic decisions at every stage of life to ensure peace of mind and financial security. In this article, we decode life insurance policies, shedding light on their importance and guiding you through choosing the right coverage for your unique life stages.

Understanding the Basics of Life Insurance
At its core, life insurance is a contract between you and an insurance company. In exchange for premium payments, the insurer promises to pay a designated beneficiary a sum upon your death. But there’s more to it than just this basic premise. Life insurance comes in various forms, each suited to different needs and life stages.

The Significance of Life Insurance in Youth
In your younger years, life insurance might seem unnecessary. However, it’s the ideal time to invest in a policy. Why? Firstly, premiums are generally lower when you’re young and healthy. Secondly, it’s not just about death benefits. Many life insurance policies have a cash value component that grows over time, offering a potential financial resource to tap into later in life.

Life Insurance During Middle Age: Protecting Your Family
As you enter middle age, life insurance becomes crucial for protecting your family’s future. At this stage, your policy should provide enough coverage to replace lost income, pay off debts, and cover future expenses like children’s education and your spouse’s retirement.

Navigating Life Insurance in Retirement
As you approach retirement, your life insurance needs may shift. Now, it’s more about managing estate taxes and leaving a legacy. Permanent life insurance policies, like Whole Life or Universal Life, can be beneficial here, providing lifelong coverage and the potential to accumulate cash value.

The Role of Life Insurance in Estate Planning
Life insurance is an invaluable tool in estate planning. It provides liquidity to pay estate taxes, debts, and other expenses, ensuring that your assets are distributed according to your wishes without burdening your heirs with financial obligations.

Choosing the Right Policy: Term vs. Permanent Insurance
The two main types of life insurance are term and permanent. Term life insurance provides coverage for a specific period and pays out only if you die. It’s ideal for temporary needs, like covering a mortgage or children’s education costs. On the other hand, permanent life insurance, including whole and universal life policies, provides lifelong coverage and accumulates cash value, serving multiple purposes over a lifetime.

The Impact of Health and Lifestyle on Life Insurance
Your health and lifestyle play a significant role in determining your life insurance premiums and eligibility. A healthy lifestyle can lower premiums, while certain health conditions or risky hobbies might increase them. To ensure adequate coverage, being honest about your health history and lifestyle when applying for a policy is essential.

Why Consult with Imperial Coverage?
Choosing the right life insurance policy can be overwhelming. That’s where Imperial Coverage steps in. With their expertise and personalized approach, they can help you navigate the complexities of life insurance, ensuring you select a policy that aligns with your life stage and financial goals.

Life insurance is not a one-size-fits-all solution. It requires careful consideration of your current life stage, financial situation, and future goals. By understanding the different policies and their purposes, you can make informed decisions that secure your financial future and provide peace of mind for you and your loved ones.

For a tailored approach to your life insurance needs, don’t hesitate to contact Imperial Coverage. Their team of experts is ready to guide you through the process, ensuring you find the perfect fit for your unique life journey.

In the complex world of insurance, understanding the nuances of comprehensive personal insurance and its importance cannot be overstated. Tailoring your policy to fit your unique lifestyle, assets, and risk exposures is not just a matter of convenience; it’s a crucial step in ensuring complete peace of mind. Customizing your comprehensive personal insurance can provide all-encompassing protection tailored to your needs.

Grasping the Concept of Comprehensive Personal Insurance

Comprehensive personal insurance encompasses various options to protect various aspects of your life. From your vehicle and home to personal liability and beyond, it’s about ensuring a safety net exists across multiple facets of your existence. Tailoring this coverage means aligning these broad insurance solutions precisely with your lifestyle, risks, and assets.

The Critical Role of Tailored Coverage in Comprehensive Personal Insurance

• Comprehensive Coverage Strategy: Rather than merely addressing the fundamental aspects, comprehensive personal insurance is designed to forge a broad shield, encompassing the entire spectrum of your personal risk landscape. Whether it’s your car, home, or personal liability, each element requires specific attention to ensure no aspect of your life is left vulnerable.
• Cost-Effective Solutions in Insurance: Tailored, comprehensive personal insurance policies can lead to more cost-effective solutions. Focusing on your specific needs prevents you from paying for unnecessary coverage, ensuring your premiums are directly related to your risk profile.
• Unwavering Peace of Mind: A well-crafted comprehensive personal insurance policy brings unmatched peace of mind. Knowing that every potential risk is adequately covered, tailored to your circumstances, allows you to live your life confidently and securely in the knowledge that you’re protected.

Achieving Personalized Coverage in Your Comprehensive Personal Insurance

• In-Depth Needs Analysis: To get the most out of your comprehensive personal insurance, start with an in-depth analysis of your needs. Evaluate your lifestyle, assets, and the unique risks you face to determine the exact coverage required.
• Leveraging Expert Advice: Consulting with insurance experts is vital in navigating the complexities of comprehensive personal insurance. Their insights can help you pinpoint specific coverage areas for your unique situation.
• Ongoing Policy Adjustment: Life is dynamic, and so should your comprehensive personal insurance. Regularly reviewing and updating your policy ensures that your coverage keeps pace with your life’s changes, whether it’s acquiring new assets or shifting life circumstances.
• Understanding the Fine Print: Familiarize yourself with the details of your comprehensive personal insurance policy. Knowledge of what’s included, excluded, and the limits of your coverage is crucial in tailoring a policy that truly fits.
• Comparison and Selection: Compare various comprehensive personal insurance options. Please be sure to look for policies that offer the flexibility and customization necessary to meet your needs.

Embracing Comprehensive Personal Insurance Tailored to You

Comprehensive personal insurance is more than just a policy; it’s a commitment to protecting every facet of your life. Tailoring this coverage ensures that you’re not just insured; you’re insured in all the right areas, in the right ways, fitting your unique life puzzle. As you explore your insurance options, focus on crafting a comprehensive personal insurance policy that mirrors the complexity and uniqueness of your life. It’s not just about having insurance; it’s about having the proper insurance, comprehensive and customized, ensuring complete protection where and when you need it.

Unlocking Medicare Coverage Tips to Keep You on Track All Year Long

As we stride into the new year, what better way to embrace a healthier lifestyle than by celebrating “Walk Your Dog Month”? The simple act of walking your dog not only brings joy to your furry companion but also holds the key to enhancing your overall health and well-being. In the spirit of this canine-inspired fitness journey, let’s explore how a daily stroll with your pet aligns seamlessly with your wellness goals. Plus, we’ll tap into the wealth of preventative benefits that Medicare Advantage plans may offer to support your healthiest year yet.

1. Physical Fitness Boost

Regular walks are a fantastic way to stay active. Did you know that Medicare Part B offers preventive services, including screenings, vaccines, and wellness visits? To learn more you may visit Medicare.gov. for a list of covered screenings and preventative services.

Take advantage of these benefits to keep your health on track this new year.

2. Mental Wellness Unleashed

Walking not only benefits your body but also your mind. Incorporate mindfulness into your daily routine, and remember, mental health is an essential part of overall well-being.  Remember, your Medicare Part B coverage may offer mental health services and counseling options.

3. Social Connections Wagging Along

Walking your dog provides an excellent opportunity to socialize. Whether you’re meeting fellow dog owners or chatting with neighbors, these connections contribute to a sense of community.   

Walking with your pals, dog owners or not, is the perfect way to incorporate some socializing in your day, providing a mental boost while keeping you engaged and connected to those around you.

4. Paws and Perks: Strengthening Bonds and Unveiling Wellness Benefits

Engaging in regular activities with your dog not only strengthens the bond between you and your furry companion but also ensures that you stay active consistently! Great news for fitness enthusiasts- Some Medicare Advantage plans offer additional wellness benefits like gym memberships or fitness programs!  Check your plan details to make the most of these perks.

5. Medicare Advantage Open Enrollment Period

As you embrace walking your dog a little more this month and set those 2024 New Year’s goals to stay active and healthy, remember to explore your Medicare coverage benefits.  The Medicare Advantage Open Enrollment Period (MA OEP)is a time where you are allowed to switch to a different Medicare Advantage plan or go back to Original Medicare from January 1-March 31^st and is the opportunity to make changes to a plan that better aligns with your health needs.

Let’s navigate your plan details together and ensure you’re equipped to embrace a vibrant and active lifestyle this new year! Schedule an appointment for personalized assistance or any questions you may have on optimizing your Medicare coverage. Here’s to a year of well-being and wagging tails!

Navigating Seasonal Affective Disorder with Medicare Support

As the winter season approaches, we’re all looking forward to warmth, hot cocoa, and cozy nights. Yet, for some Seniors, it might signify the onset of Seasonal Affective Disorder (SAD), commonly known as the “winter blues.” Let’s explore more of what causes SAD, recognize its symptoms, and explore tailored coping strategies to make the chilly season more enjoyable for you—with the added support of Medicare.

Understanding SAD

While the winter blues are often associated with colder months, SAD can impact individuals during any seasonal change. Researchers suggest that imbalances caused by shorter daylight days play a role, affecting the body’s biological clock, disrupting sleep patterns, and influencing serotonin production – a neurotransmitter linked to happiness. Reduced sunlight exposure also leads to a decrease in Vitamin D levels, further impacting mood.

Recognizing Symptoms

It’s essential for our Medicare beneficiaries to be aware of the signs of SAD for both self-intervention and seeking support. Symptoms can manifest physically, emotionally, and behaviorally. These may include extreme fatigue, increased body heaviness, changes in appetite, weight gain, oversleeping, feelings of sadness, anxiety, hopelessness, irritability, and thoughts of death or suicide. Remember, symptoms vary among individuals, and it’s crucial to acknowledge the validity of personal experiences.

Coping and Preventive Measures with Medicare Support

Once you identify symptoms, there are various coping mechanisms tailored for you, with the added support of Medicare to ease the seasonal transition and improve well-being:

•             Professional Support: Seek guidance from your healthcare professional or licensed therapist. Medicare offers coverage for mental health services, allowing you to access therapy sessions and counseling.

•             Prescription Medications: If prescribed, Medicare Part D may cover medications for SAD treatment, providing you with the necessary support to manage your condition effectively.

•             Healthy Habits: Manage symptoms through consistent sleep schedules, a well-balanced diet, and regular exercise. Aim for at least 30 minutes of physical activity three times a week.

•             Positive Activities: Engage in small, positive activities like exercise, meditation, yoga, journaling, painting, reading, or a leisurely walk to stimulate the mind.

•             Social Connections: Avoid isolation by staying connected with friends and family. Joining support groups or clubs fosters social interaction and the opportunity to make new connections.

•             Sunlight Exposure: Combat sunlight depletion by opening blinds, sitting near windows, or taking outdoor walks. Consult with professionals about light therapy options, such as specialized lamps and exposure routines.

If you know a friend who might be struggling, take the chance to reach out and connect. Coordinate a walk or physical activity that suits you both, share a warm dish, or visit a nearby coffee shop together. Let’s encourage seniors to support each other this winter through simple acts of kindness.

By being aware of contributing factors, recognizing symptoms, and implementing coping strategies, the challenges of SAD can be more manageable with the support of Medicare services. Prioritize your well-being throughout the year, prepare for the season, and remember – you have the capability to handle the winter blues. Stay warm, stay safe, and embrace the joys that each season brings. 

If you need assistance understanding or accessing your Medicare benefits, please don’t hesitate to contact our office today at (631) 476-4015.

If you’re new to Medicare, understanding the various enrollment periods can be a bit overwhelming. With the Annual Enrollment Period (AEP) coming to a close, two crucial enrollment periods are just around the corner: the General Enrollment Period (GEP) and the Medicare Advantage Open Enrollment Period (MAOEP).

Both run simultaneously from January 1^st to March 31^st.

First, some background. When you are new to Medicare, you have an Initial Enrollment Period (IEP) that runs for a total of 7 months: 3 months before the month you turn 65, the month you turn 65 and the 3 months following that month.

Example: If your birthday is December 3rd, your IEP starts on September 1st and ends on March 31st.

This is the best time to enroll in Original Medicare (Parts A and B together) because you’ll avoid potential penalty fees and delays in healthcare coverage.

However, if you happen to miss your Initial Enrollment Period (IEP), don’t worry. You get another chance each year during the General Enrollment Period (GEP) to sign up for Medicare Part A and/or Part B. During the GEP, you can only enroll in Medicare Part A and/or Part B.

During this time, you cannot:

• Enroll in a prescription drug plan (Part D)
• Buy a Medicare Advantage plan (Part C)
• Change any existing coverage you might have (like going from one Advantage plan to another or dropping Part D)
• Make any other changes to your coverage

Penalties for Signing Up Late

If you sign up for Parts A and/or B during the General Enrollment Period, you might have to pay extra on your usual premiums – that’s the penalty for signing up late. That’s why it’s a good idea to enroll during your Initial Enrollment Period (IEP).

• Part A Late Enrollment:

If you need to purchase Part A and miss your first Medicare eligibility chance, your monthly premium may increase by 10%. The penalty lasts for twice the number of years you delayed. For example, if you wait 2 years to sign up, you’ll pay a higher premium for 4 years. Special Enrollment Periods may exempt you from penalties – check your eligibility.

• Part B Late Enrollment:

You usually won’t face a Part B penalty with a Special Enrollment Period. Expect an extra 10% for each year you could have enrolled but didn’t. Your income may also affect your premium. Learn more about Special Enrollment Periods for your options here: Special Enrollment Periods | Medicare

During the GEP, there is another period called the Medicare Advantage Open Enrollment Period (MAOEP). The main difference between Medicare Advantage Open Enrollment and General Open Enrollment is who can use each one and what changes you can make.

The Medicare Advantage Open Enrollment Period (MAOEP) lets you:

1. Change Medicare Advantage Plans: You must be already enrolled into a Medicare Advantage plan. If both Medicare Advantage plans are offered in your area, you may change from one to another.
2. Go Back to Original Medicare: You can drop your Medicare Advantage plan and return to Original Medicare (Parts A and B), with a Part D prescription drug plan. You also have the option to add a Medicare Supplement (Medigap) policy. However, this is not a guaranteed issue. You will most likely have to go through Medical Underwriting.

During this time, You cannot:

• Enroll in Medicare Advantage for the first time if you are currently on Part A and Part B (Original Medicare).

Understanding and navigating these enrollment periods is crucial for ensuring that you have the right Medicare coverage. If you have any questions or need more information on changing your plan, feel free to reach out to our office today at  (631) 476-4015 and we would be happy to assist you.

November is a crucial month in the health calendar as it is recognized as Diabetes Awareness Month. This is a time to bring attention to the disease and the millions of people affected by it. It’s also an excellent opportunity for us to shine a light on the importance of health, reminding everyone that your health matters!

1. Type 1 Diabetes: An autoimmune condition where the body’s immune system attacks and destroys the insulin-producing cells in the pancreas. People with type 1 diabetes need lifelong insulin therapy.
2. Type 2 Diabetes: The most common form, often linked to lifestyle factors like poor diet and lack of exercise. It results in the body not using insulin properly or not producing enough, leading to elevated blood sugar levels.
3. Gestational Diabetes: A temporary form that occurs during pregnancy, usually resolved after childbirth, but it increases the risk of developing type 2 diabetes later in life.

Diabetes Management and Medicare: Know the Updates for 2024

One of the most significant challenges for those managing diabetes is the cost of the necessary supplies and medications. However, for Medicare recipients, there will be some important changes starting in 2024 that could make managing diabetes more affordable.

What’s Covered Under Medicare Part B:

• Injectable insulin used with a traditional insulin pump
• Insulin used with a disposable insulin pump
• Diabetes screenings and exams
• Diabetes self-management training (DSMT) – Medicare may cover up to 10 hours of this initial training – 1 hour of individual and 9 hours of group training. You may also qualify for up to 2 hours of follow-up training in each calendar year that falls after the year you got your initial training.
• Therapeutic shoes & inserts covered each calendar year:
• One pair of custom-molded shoes and inserts
• One pair of extra-depth shoes

Medicare will also cover:

– 2 additional pairs of inserts each calendar year for custom-molded shoes

– 3 pairs of inserts each calendar year for extra-depth shoes

In 2024, Medicare Part B will be extending the $35 monthly co-pay for insulin provided through durable medical equipment (DME). This is a significant improvement that will help many people manage their diabetes more effectively. Furthermore, blood sugar testing supplies will also be available with a $35 monthly co-pay, making it easier to monitor and manage diabetes-related complications.

Medicare Part D Coverage

For those using injectable insulin not associated with a traditional insulin pump or insulin used with a disposable pump, Medicare Part D has got you covered. Additionally, Part D covers certain medical supplies required for insulin injections, including syringes, gauze, and alcohol swabs. Insulin that is inhaled is also covered under Part D.

Starting January 2024, Medicare Part D will extend its coverage to include diabetes-related expenses. Under this plan, individuals can benefit from a $35 monthly co-pay for diabetes medications, and this cost won’t be subject to the plan’s deductible. This expansion is a positive step in making diabetes management more accessible and affordable for Medicare beneficiaries.

Medigap Coverage

If you have Part B and Medigap covering your Part B coinsurance, your plan should cover the $35/month (or less) cost for each covered insulin.

Reversal and Prevention- Keep Diabetes in Check!

Type 2 diabetes, which constitutes about 90-95% of all diabetes cases, is often associated with lifestyle factors. According to the International Diabetes Federation, over 50% of type 2 diabetes is preventable.  It’s essential to address preventive measures and potential reversals for individuals with type 2 diabetes or those at risk. For those with type 2 diabetes or at risk, lifestyle changes play a crucial role.

The 3 pillars to battle Diabetes are Weight loss, adopting a balanced diet, increasing physical activity.

Many Beneficiaries wonder, what the best way is to pay for Medicare. In this blog, we’ll break down the essential details in simple terms, so you can effortlessly manage your healthcare expenses, and avoid a potential loss in coverage.

For the majority, Medicare Part A doesn’t require a monthly premium. Nevertheless, if you’re subscribed to Medicare Part B and you’re already receiving benefits from Social Security or Railroad Retirement Board, your Medicare Part B premium is commonly subtracted from your monthly benefit payment.

However, if you have Medicare Part B but haven’t started receiving Social Security or Railroad Retirement Board benefits, you can expect to receive a monthly bill known as the “Notice of Medicare Premium Payment Due” (CMS-500). You’ll have to arrange for payment of this bill every month.

Let’s start with the basics

What’s a premium, deductible, coinsurance, or copayment?

Premium: A monthly amount you pay for coverage, whether you get services or not.

Deductible: An amount you have to pay for covered services and items each year before Medicare or your plan starts to pay.

Coinsurance: A percentage of the cost that you pay. In Part B, you generally pay 20% of the cost for each Medicare-covered service.

Example 
A Medicare-covered service costs $100. Medicare pays $80 and you pay $20. ($100 x 20% = $20.)

Copayment: A fixed amount you pay for a Medicare-covered service, like $30.

There are 4 ways to pay your Medicare premium bill:

1. Pay online through your secure Medicare account (fastest way to pay)- use this free service to pay by credit card, debit card, or from your checking or savings account.
2. Pay directly from your savings or checking account through your bank’s online bill payment service- Some banks charge a service fee.
3. Sign up for Medicare Easy Pay– free service, we’ll automatically deduct your premium payments from your savings or checking account each month.
4. Pay by check or money order through mail – this is not an automatic payment set up, therefore it is up to the Medicare beneficiary to remember to submit their monthly payments on time.

When are Medicare premiums due?

All Medicare bills are due on the 25th of the month. In most cases, your premium is due the same month that you get the bill. For your payment to be on time, we must get your payment by the due date on your bill. Submit your payment at least 5 business days before the due date, so we can get it on time.

For your payment to be on time, we must get your payment by the due date on your bill. Submit your payment at least 5 business days before the due date, so we can get it on time.

What if your Medicare premium payment is late?

If you miss a payment, or if we get your payment late, your next bill will also include a past due amount.

If you get a Medicare premium bill that says “Delinquent Bill” at the top, pay the total amount due, or you’ll lose your Medicare coverage

Automatic Deduction from Social Security for Medicare Part B Premiums- What you need to know!

If you’re receiving Social Security benefits, it’s important to understand how Medicare premiums work.

If you receive Social Security benefits, your Medicare Part B premiums are automatically deducted from your monthly Social Security check.

The standard monthly deduction for most beneficiaries in 2024 is $174.70, covering Medicare Part B.

Please be aware, you won’t receive a separate bill for Medicare premiums, but you’ll get a monthly statement that details the deduction from your Social Security check.

Below is the Income-Related Monthly Adjustment Amount  (IRMAA) for 2024.

 Enrolled in Medicare but NOT Claiming Social Security Benefits? Here’s how to sign up!

You can sign up for Medicare Easy Pay Medicare Easy Pay | Medicare, a FREE service allowing automatic withdrawals of your monthly premiums from your checking or savings account.

Medicare Part A Premiums

Most people don’t pay Medicare Part A premiums, but if you haven’t paid Medicare taxes for at least ten years through your job, you may need to pay these premiums.

The 2024 Medicare Part A premium varies based on the number of quarters you’ve worked and paid Medicare taxes.

Medicare Advantage Plans and Part D Prescription Drug Plans

Some Medicare Advantage plans, and standalone Medicare Part D drug plans may offer the option to have your premiums deducted from your Social Security check. However, this is not an automatic process and you’ll need to contact your plan administrator to set it up or request it during enrollment.

Key Takeaways:

• If you receive Social Security benefits, your Medicare Part B premiums will be taken directly from your monthly Social Security payment.
• There are 4 other ways to pay your Medicare Premium.
• If you have a Medicare Advantage or Medicare Part D drug plan, you can inquire with your plan administrator about the possibility of deducting your premiums from your Social Security benefit.
• For those enrolled in Medicare but not receiving Social Security benefits, you can arrange for your monthly premiums to be automatically withdrawn from your checking or savings account by reaching out to Medicare.

In the world of Medicare, staying on top of your premiums is more than just a chore—it’s a vital step in ensuring seamless healthcare coverage. Failure to make timely payments can lead to the dreaded consequences of delinquent accounts and even the loss of coverage.

If you would like to learn more about how to set up your automatic payments to pay for your Medicare Premiums, you may contact us today.  

Resources:

www.medicare.gov

www.CMS.gov

October is Breast Cancer Awareness Month, a time dedicated to spreading knowledge about the most common type of cancer found in women. As your Senior Markets Specialist, it is our role to make sure you, as the Medicare beneficiary, are kept informed with Medicare coverage benefits, and encouraged to be proactive when it comes to your health. Here’s what you need to know about breast cancer awareness and the preventive screenings covered by Medicare.

Breast Cancer and Age

Women over 60 make up nearly half of new breast cancer cases, and an additional 20% of cases affect women over 70. That’s why it’s essential for Medicare beneficiaries to be aware of the risks and the importance of early detection.

Medicare Coverage for Preventative Screenings

Medicare now covers specific preventative screenings, such as mammograms, which can detect breast cancer before any signs or symptoms appear. Detecting breast cancer at an early stage significantly improves treatment outcomes.

Mammograms are covered once every 12 months for women aged 40 and older. Medicare also covers one baseline mammogram for women between 35-39.

If medically necessary, Medicare Part B covers diagnostic mammograms more than once a year. You’ll be responsible for 20% of the Medicare-approved cost after meeting any Part B deductibles.

Warning Signs

In addition to regular screenings, it’s crucial to be aware of potential warning signs. These symptoms could indicate a problem and should be discussed with your healthcare provider:

• Lump on the breast: This is the most common symptom, and it’s important to note that 20% of lumps are cancerous.
• Breast discharge of any kind.
• Swelling and soreness in the underarm or breast.
• Nipple inversion or skin dimpling.
• Skin changes: Look out for redness, peeling, flaking, or crusting, either in a specific area or across the entire breast.

Breast Cancer Awareness: A Unified Effort

Breast Cancer Awareness Month is a time for all of us to come together, educate ourselves, and support those impacted by breast cancer. Medicare plays a vital role in ensuring individuals have access to the healthcare services they need during their breast cancer journey.

By staying informed, advocating for your health, and spreading awareness, we can work together to reduce the impact of breast cancer and empower individuals to live healthy, fulfilling lives. Remember, early detection is key, and Medicare is here to support you in your healthcare journey. Stay proactive, stay informed, and stay healthy.

If you’d like to learn more about your Medicare coverage and preventative services that may be included in your benefits, please contact us today at (631) 476-4015 and we would be happy to schedule a plan review.