Medicare and SHIP Counselors
I recently completed training to become a Certified Counselor in the Indiana State Health Insurance Program, otherwise known as SHIP. This is a free and impartial counseling program provided by the Indiana Department of Insurance for Medicare beneficiaries in Indiana. SHIP counselors and counseling sites are available thru out the state of Indiana (other states have this program as well).
If you are Medicare eligible or will be turning 65 soon, I strongly recommend scheduling an appoint with a SHIP counselor at a SHIP site near you. Medicare coverage options are complicated and choosing the right plan makes a big difference in your pocketbook. Know that if the Counselor cannot figure it out, they have access to experts and additional resources. Be proactive and plan ahead. Remember it’s free of charge. Your tax dollars pay for this service. You can find the SHIP site nearest you on the SHIP website below and call to make an appointment.
Open Enrollment for Medicare Advantage (Part C) and Medicare prescription drug coverage (Part D) is October 15-December 7.
Did you know? ……
The “donut hole” for Medicare Part D drug coverage will no longer exist starting 2020! That’s good news for those 65 and older. Being in “the donut hole” is financially straining and frustrating.
Information about the donut hole regarding Medicare Part D
o Annual deductible cannot exceed $360
o Currently, Part D pays at least 75% of the drugs until the total drug costs reach $3310 for the year. The gap or “donut hole” then begins until your out of pocket prescription costs reach $4850 for the year. The plan then restarts coverage and pays at least 95% for rest of year.
o Donut Hole to go away by 2020. Drugs will be 75% covered by Part D continuously with no gap in coverage.
Did you know? …..
The Shingles vaccine is not covered under your Medicare Part B like your flu shot and your pneumonia vaccine.
The Shingles vaccine is covered under your Medicare Part D coverage.
How do I avoid a bill and the least amount of hassle?
o Get your shingles vaccine at the pharmacy if you have Part D coverage
Did you know? …..
If you are age 65 and older, working, and still carry your employer’s insurance you could be switched to a Medicare Advantage Plan.
Recently in Northern Indiana, some Medicare eligible employees found their traditional insurance thru their employer had been switched to Medicare Advantage. Medicare Advantage plans will likely not have the same coverage as your current plan. Insurance companies are required to notify you that your insurance will be changed to an advantage plan unless you choose to opt out and keep your current plan. Unfortunately, some of these notifications have been thru the local newspaper or a mailed letter that was not opened.
The take away message here is if you are 65 and older and covered by your employer’s insurance, talk to human resources and talk to the insurance company and find out what their plans are. You can get stuck with a Medicare Advantage plan if you miss the period in which you need to inform them you want to opt out. I plan to reach out to my state elected officials and share my concerns about this approach.
Important websites
Social Security: www.socialsecurity.gov
Medicare: www.mediare.gov
Indiana State Health Insurance Program (SHIP): www.medicare.in.gov