Medicare Part D 2025 Creditable Coverage SNAFU
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- Опубликовано: 13 сен 2024
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The Inflation Reduction Act is wreaking havoc on every aspect of Medicare 2025.
In Medicare Part D 2025 Creditable Coverage SNAFU I discuss how Employer coverage Prescription Drug plans may not be creditable coverage starting in 2025. I show you what you need to do to find out if they are creditibale coverage and how to make certain you are not subject to a lifetime penalty.
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Very useful information. No one else has talked about this change. I will be sure to contact my employer HR representative about this. Thank you!
Glad it was helpful!
Good to know.Thanks for posting
You bet
So grateful for this info, and the option to speak to a human being free of charge about something that seems SO COMPLICATED! 5:19
Thanks for the heads up. I'll have to wait for my employer's clarification on Oct. 15. I'm 65, work for a very large government contractor, like my health insurance, contribute to my HSA and plan to work till 70. I'd like to keep it that way, but may need to rethink plans depending on how this Part D snafu affects me.
From my perspective, this whole thing is a bit ridiculous. I don't need/take any prescription meds now, but may need to do so as I get older. So I'll need some basic "creditable" prescription drug plan to tide me over till then. I'd rather not enroll in a Pard D plan because I would also need to be in Part A to do so, and that means no more HSA.
Thanks for your insight and comment. I agree, it's rediculous and not well thought out.
Thanks Matt Much appreciated
If I need a Part D plan, you say the easiest way to get on medicare is to just enroll for part A coverage. But doesnt enrolling in Part A prevent me from contributing to my HSA?
you are correct, but if you have a spouse who is covered by your HSA eligible healthcare plan and not on Medicare, the spouse can contribute to the spouse's HSA plan but not on yours.
@@suzycreamcheese8888 correct. Thank you
you can have an employer part D coverage that is embedded in an advantage HMO plan and still add an individual part D plan when the employer plan is not credible coverage ? I thought that when you do this it will kick you of of the Advantage plan.
In the last video you stated that no penalties will accrue for the year 2025. Meaning that if I have just my employer coverage through next year, I will not pay more forever because of a loss of "creditableness." If I continue to work and have employer coverage only into 2026, I will be subject to penalties. Is this correct?
As I indicated in that video, this one and the next one, this is a very Dynamic situation. Things will change --meaningfully. I truly dislike the situation we are in because accurate information this week can be wrong next week. Please stay tuned.
How is the $2000 limit affecting advantage plans?
cost are going up and benefits are coming down!
The structure for rx is tge same for advantage and stand alone rx plans
Correct, but it appears one witll be subsidized to a greater degree than the other.
I thought it was going to be voluntary? What if we already have Plan G? We are all forced to change? They couldn't make medicare any more confusing if they tried
You may be forced to change your Part D. Shop your Part D this year.
When do you start to review part D to see if your current plan is still the best for your situation? What is your website to review part D companies? Thank you.
No one can see the details until October. I created partdshopper.com/ to help with this. But there is still a lot to talk about for 2025.
I’ve had Wisconsin SeniorCare Rx as credible coverage for Part D for 5 years. Do you know if that will considered credible coverage for 2025?
no i do not know
@@MedigapSeminars I called the SeniorCare Rx team in Madison (State capitol) and was told that the plan will be considered 'credible coverage' in 2025.
Kamala was the tie breaking vote in the Senate that made this mess possible. Keep that in mind on election day. Thanks Kamala! (/sarc)
Yes, thanks Kamala for eliminating the coverage gap and reducing my oop from 8000 to 2000. I dont know if typical but most of the people I know have or plan to join medicare when eligible so dont have to worry about creditable coverage. But, it will be interesting to see the part D premiums/deductibles for next year. As Matthew said, things will change.
And the other choice is getting rid of medicare period remember that and project2025..no thanks Trump!
Trump has disavowed Project 2025 and fired anyone involved in that nonsense. thehill.com/homenews/campaign/4765917-trump-denies-link-project-2025/
When the Inflation Reduction Act was being put together, the statisticians claimed that a $3,500 max out of pocket would solve what was intended without disrupting the market. They clearly argued that a $2,000 max out of pocket would cause insurance companies to exit the Part D market or rduce the number of plans available. That is exactly what has happened. I believe a max out of pocket is important, but so is health competition.
@@MedigapSeminarsso you removed my comment? He disavows many things trump is project2025 JD VANCE WROTE THE FORWARD. Did he fire him?
I not unhappy I’m quite joyful! No blood or tears here!Yes plenty of GREAT Chanels out there.I LIKE MOST RESEARCH! It just so happen , to give you your 🌹 I started following you when I first started out in medicare and learned ALOT -learning more with you position on this. This is the first video i have seen wherein politics was allowed to fly, comments deleted and political views added from you that don’t agree with my comment. Your audience has to agree with you? No questions asked no rebuttals? You allowed a political comment to be made specifically towards a person. You know and commenter knows why that comment was made. That person is entitled to their comment and so was I. You didn’t like my comments so you removed them. You should have removed the entire thread. You’re welcome and thanks!
I have not ever deleted comments. However, i have noticed that when there are a large number of replies to a single comment that it can be difficult to find. That is likely what happened to yours. People don't have to agree with me. FYI, I am an independent, married to a Democrat and believe that RFK Jr. has the best ideas to save Medicare. Also FYI, this is not a political video. It is an anti-Inflation Reduction Act unintended consequences video. and an Anti- government bearacracy making law video. All the best.