WhatSupp Insurance Solutions LLC

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Once Upon a Time in Medicareland… Back in the good ol’ days—before hospital bean counters ruled the world—if you were 65 or older and on Medicare, you had what felt like a golden ticket: 60 full days in the hospital, paid 100% by Medicare (after your Part A deductible). No coinsurance.

Friends and clients, this is probably the most important year to schedule your annual review with us because your Medicare coverage will be impacted by the Inflation Reduction Act and the $2,000 max-out-of-pocket (MOOP) limit on Prescription Drug Plans (PDP).

Prescription Drug Plan / Part D: The $2,000 max-out-of-pocket (MOOP) limit on PDPs will help reduce costs for some of you with expensive prescriptions, but the premiums are going to increase for everyone. Additionally, deductibles will increase, some plans will likely cease to exist, and others will no longer cover your medications. Not reviewing could cost you thousands of dollars, force you to change medications, or leave you without any coverage.

Medicare Advantage Prescription Drug (MAPD) plans / Part C: We have heard that many of your plans are ending, you will be without coverage if you do nothing. However, we can help you switch to another MAPD with benefits less impacted by the new regulations.

While Medicare is taking steps to mitigate potential premium increases through a new demonstration program https://www.kff.org/medicare/issue-brief/what-to-know-about-medicare-part-d-premiums/ it is essential that you review your coverage this year. Please schedule your annual consultation so we can help you avoid the major disruptions.

You can schedule your annual review at www.What-Supp.net .

WhatSupp Insurance Solutions, LLC – Making Medicare Simple By helping you understand what Medicare does and doesn’t cover, you’ll avoid gaps in coverage, pitfalls, and penalties.

The Medicare Prescription Payment Plan seeks to allow seniors to spread out their Medicare prescription drug costs over the year, rather than requiring them to pay in one lump sum.

CMS releases 2nd guidance on Part D monthly payment program The CMS issued a second draft guidance for the Medicare Prescription Payment Plan, a new program taking effect next year that will allow Part D beneficiaries to pay their out-of-pocket costs in monthly installments spread over one year. The guidance outlines education, outreach and communication req...