BREAKING: 2024 Part D Premium Changes You NEED To KNOW! 😱
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- Опубликовано: 25 авг 2024
- Discover the 2024 Changes to Medicare Part D Plans you need to know with Marvin Musick from Medicare School!
Are you curious about the latest updates that can impact your healthcare choices?
In this video, Marvin Musick breaks down the crucial details released by CMS for 2024 Part D plans. From premium modifications to remarkable improvements in coverage and eligibility for the extra help program, this video holds the key to understanding the changes that could significantly impact your Medicare experience. Whether you're a current beneficiary or simply interested in optimizing your healthcare coverage, join us as Marvin Musick dives into the intricate world of Medicare, helping you make informed decisions for a healthier future.
Don't miss out - hit play now and empower yourself with the needed knowledge!
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EVERY LEGAL AMERICAN SHOULD HAVE THE SAME MEDICAL INSURANCE THAT MEMBERS OF THE CONGRESS AND SENATE HAVE. CASE CLOSED.
I’m sure there’s lots of us lol appreciate all your hard work and effort and keeping us informed. Thank you so very much.!!
You're welcome!
Great and timely information about Part D. You're a fantastic teacher.
Glad it was helpful!
Unfortunately, 6% can be a lot with higher premiums. We would have saved a lot if Prescription Part D had been incorporated into Medicare. Certain politicians wanted to give private insurance companies the Part D business.
Thank you for your feedback.
@@MedicareSchool I was employed in the private health insurance industry for many years/compliance & product analyst. The 2nd insurer I worked for sold Med Supp plans.
Well - you have the 1st Bush to thank for part D. Also the republicans again kick the cost down the road. The governments kick in was not funded.
Most of them have paid off by the pharmacy companies.
They're all crooks! So corrupt.
Clear, concise and much more complete than any other source that I have ever seen.
Glad it's helpful!
I think it’s wrong to make me purchase a part D plan when I don’t take any meds practice functional medicine and Natural path. Won’t cover any of my supplements to help prevent me from needing drugs not even a discount for being healthy eating right and exercising.
Exactly!!! We should also get paid for having to hear so many commercials about Medicare Advantage !
@@mariaparker1297 Exactly! How about a penalty premium for eating nothing but processed sugar and carbs?
I'm 68 I dont take drugs and have not been to a doctor since my last kid in 1988. I never bought the D because I dont plan to take drugs. They cant force you to buy D..but if you ever do, you will pay more monthly if you ever decide to get D if you waited to buy. I play that card when the time comes. I also have a plan called Lasso..different then most plans that most Medicare people have.
You are not required to buy a part d plan. However,if you decide, in 5 years, for example, that you need part d, there is a penalty you have to pay to join, and the penalty is steep. I don’t take any Rx, and pay $70 a year for my part D, just to stay in the program and avoid any penalties if someday I need drugs….
@@CottonWoodBlues I have been with Lasso for a few years as well.
GREAT news about zero co-pay for Phase 4 in 2024 and $2000 cap for 2025!
In 2023 our premium price doubled over 2022 (28 to 59 dollars). What is the chance they did that because of the premium stabilization taking effect??? Get the premium up while they can.
Seems likely. With a 6% cap on premium increases, what will happen to a plan if costs go up by more than 6%?
If you have questions, or need help getting your Medicare coverage set up correctly, give us a call at 1-800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
Keep this in mind. Older tax paying AMERICANS have to go thru this yet OUR COUNTRY WANTS TO GIVE 100 BILLION TO TWO COUNTRIES.
Thank you for bringing all your updates and insight.
Why would the Part D provider bother to negotiate for cheaper drug prices if they have to pass the whole savings on to the consumer?
😊pmstff. Agree totally. No breaks for anyone not in the expensive system. No break for anyone taking care of themselves.
Thanks for the input.
Just got my notice for 2024 premiums on my current Medicare Part D plan. They are going up 100%. Guess I will be looking for a new plan for next year.
If you need help setting up your Medicare coverage correctly, give us a call at 800-864-8890 or visit us at www.medicareschool.com
My husband just got his ANOC for his part D plan. The premium is going up $18.90 per month in 2024, from $77.00 to $95.90. I am shocked.
Give us a call so we can assist with reevaluating his costs: 800-864-8890 or schedule an appointment at www.medicareschool.com
Does your husband also have to pay a co-pay for some or all of his prescriptions? I found that to be case when I had a standalone prescription plan.
@@les0101s So far his 4 prescriptions have been tier 1 drugs, so he doesn't pay a copay for them. I am afraid to go to a cheaper drug plan because his health is getting worse and I imagine there will be a time that he will get more expensive prescriptions.
If premiums are capped at 6%, then I expect 6% increases each year.
Thank you for your input! If you have questions, or need help getting your Medicare coverage set up correctly, give us a call at 1-800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
Great info, thanks for sharing.
$55.50 x 12 = $666 yearly yikes
The best Medicare info on the internet. Thanks for all you do…..
Our pleasure!
I appreciate all of your hard work thank you very much.
You're welcome! If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
Not Good News! My part-D standalone plan go up %413 for 2024! That is over four times the cost for 2023. That is BS!
My Silver Script 2023 premium is increasing from $75.20 w/no deductible to $113.10 with a $200 deductible for tier 3-5 drugs in 2024. Is this supposed to,be good news. Premium stability? I guess they’re getting a 50% increase while they can…..
You can shop the plans to make sure you're in the most cost effective option for the meds you're taking. If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
How can anyone live on less than $14K?
Some people may qualify for help with their Medicare costs based on income.
A heads-up for veterans: Let the VA take care of your Medicare shortfalls. I already have hearing aids and medications for free.
If Medicare will have to pass the price concessions on to the consumer, there will be no incentive to Medicare to negotiate a lower price.
I thought the same thing at first, but now I think there might be. If plans negotiate lower prices and that lower price is passed on to the consumer, then that plan should be more competitive and be able to attract more clients.
I just found your channel. It’s helping me so much.
Happy to help! Thank you for watching the video.
I had partD stand alone plan "wellcare value script (PDP) and was paying $ 11.10 per month as premium. 2024 they say it is only $0.50 per month. I am wondering is there any catch points?
None at all. Take advantage of the break on the premium.
I think you should do a video on approval by Dr and insurance company for a medication. I’ve had it covered all last year and when I started year before. What is process. Am I guarenteed approval of a medication I have been on. How do I get from doctor? Etc.
If you have questions or need help setting up your Medicare coverage correctly, give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com
I have supplemental plan N last two years ever since I am on Medicare
Thank you for your video very helpful
Thank you, Sir. 👍
Thank you for watching! If you have questions, or need help getting your Medicare coverage set up correctly, give us a call at 1-800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
Thank you Marvin.
You bet
No way is the premium stabilization benefit limited to 6%. Just received my Humana plan premium notice for 2024. Increased by 42%!,, I take only one generic BP medication. Where did you get your information? Thanks
If you have questions or need help setting up your Medicare coverage correctly, give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com
It begins in 2024. So maybe raising prices now?
It is also confusing particularly for seniors. Because I am diabetic. I have some very specific medicines that I must take and of course they’re well over $100 a month. I sure see a lot of ads for them on television perhaps the drug companies should cut back on their advertising. Is there anyway I can get my drugs cheaper from Canada? I get telephone calls from people that want to help me but I don’t trust who I’m talking to. They’re not with companies that I recognize the name.
My team would be happy to assist you with setting up your Medicare coverage. Give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com
unless u r a type one diabetic you can use peptides and diet to get off insulin
Very good video as usual. This information helps a lot.
Glad to hear it!
He used the word exciting
So the strategy for 2024 for part D plans if you take a lot of medications would be to go for the cheapest premium, and plan to pay $2000 plus the yearly premium per year?
Not necessarily. If you have questions, or need help getting your Medicare coverage set up correctly, give us a call at 1-800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
With the elimination of Phase 4 copay in 2024, and the introduction of the $2K OOP max in 2025, would you expect the PREMIUMS to (greatly) rise to offset the greater contribution paid by the carriers?
They are already paying 95% in the catastrophic tier. So, yes, there will probably be higher premiums, but not a "catastrophic" increase. Also, remember the 6% cap on premium hikes.
If you have questions, or need help getting your Medicare coverage set up correctly, give us a call at 1-800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
Great information! Keep sharing!
We will!
Very Valuable Information - This changes each year -
Glad it was helpful!
I go to the VA for all of my medications except one and that's Leothyronine. If that ever changed, which I'm 100% disabled veteran, and I wanted to use my PPO outside providers then basic plan would still be enough I take quite a few medicines but nothing that's not on the generic list.
Thanks for sharing. If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
I must be slower than I thought. Lol! I never can get to the video linked to many of your wonderful videos, such as this one that I wanted to watch. I'll have to watch again and see if the link pops up again.
Great info, thanks!
You say that the expansion of LIS includes Part B premiums but I can find nothing more about it. Did you make a mistake?
My team would be happy to assist you with setting up your Medicare coverage. Give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com
I share your videos to friends of mine that are on Medicare all the time! You are wonderful!
Appreciate that! Thank you.
Thank you president Biden for helping reduce pricing!
A terribly confusing and disgusting system - in my view ! --- Whoever comes up with all this crap to navigate should be isolated on a small deserted island !!! --- Ridiculous.
I was watching your video today about Enhanced Part D, so I called Medicare to find out more................they've never heard of the Enhanced Part D. In fact, it also does not come up on the Medicare website. Help please.
Enhanced Part D plans charge higher monthly premiums than basic plans but typically offer a wider range of benefits. For instance, these plans may not have a deductible, may provide extra coverage during the donut hole, and may have a broader formulary. Some of these plans may also cover excluded drugs. Keep in mind that benefits vary by plan. For more information, feel free to give us a call at 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
2024, 150% numbers, that is including the assets allowed?
Even with a COLA increase, it looks like nothing will really change for me. That is, unless Medicare Advantage plans in South Dakota offer the added cash or grocery spending cards that I've seen advertised.
We can help you review your options to find the right plan for your needs. If you have any other questions, or need help getting your Medicare coverage set up correctly, give us a call to schedule an appointment: 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
I have COPD. My medication is not covered under Part D. How do I get coverage for those medications?
We'll need to take a closer look at your situation. Give us a call at 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
I’m going to be here for you,like you are here for me. Apparently liking and commenting and subscribing helps. I appreciate your input!
Thank you!
If you need help getting your Medicare coverage set up correctly, feel free to give us a call at 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
Aetna part D costs me $5.70 per month - co-pays on drugs using Good RX gets any out of pocket costs down further -significantly - never had any issues
Thanks for sharing.
I take no prescription drugs, but was told I needed to enroll in Plan D coverage so I would have lower premiums in the future. My 2023 part D premium has been $6.90 a month, but will be raised to $9.99 a month. I do not understand why I need this coverage, since I have no prescriptions and why it would increase if I did not have it.
If you have questions or need help setting up your Medicare coverage correctly, give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com
Why is mine going up about 14 dollars? That’s about 30%?
If you have questions or need help setting up your Medicare coverage correctly, give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com
It helps to know about the different prescriptions plans, I.e. better & best plans
My team would be happy to assist you with setting up your Medicare coverage. Give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com
Great vid and great news. Thanx.
Does this information directly relate to the MAPD (MEDICARE ADVANAGE Part D) plans or is just related to the Stand Alone Part D Plans?
Any coverage where precriptions involved. If you have questions, or need help getting your Medicare coverage set up correctly, give us a call at 1-800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
I pay 17 dollars a month. Based on 3 generics I need. I am not paying a 100 dollars a month for the best plan based on what I MIGHT need in the future or all of a sudden.
Do people on SSDI qualify for extra help automatically or do they still need to be under the income and asset numbers in this video?
Being that it is an income-based program, your income and assets will need to be evaluated. Feel free to give my team a call for further information: 800-864-8890 or schedule a free appointment here: www.medicareschool.com/talk-to-a-guide?rc
Diabetes equipment like BG monitor, testing tape, etc provider write prescriptions for these are they covered under part D or ?
Diabetic supplies are covered by the Medical portion of Medicare, Part B.
All these percentages of incomes to qualify for programs makes no sense to me. Why not just plain simple easy to understand...if you make less than $2000 you qualify, or if you have less than $2000 in assets you qualify,...smh
Tell me about this the grocery allowance from Medicare.
This can be a benefit on some Medicare Advantage plans. ruclips.net/video/B7VWa8DMZVk/видео.htmlsi=iSiNJRjGlEMvd-O5
If you have any questions please, feel free to give us a call at 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
Hey, you missed a state that doesn't count assets for qualifying for the Medicare Savings Program. As of Jan 1, 2023, WASHINGTON STATE doesn't count assets for MSP qualification. There's a specific, Medicare Savings Plan only form that you can fill out that doesn't ask any asset questions.
Where do you apply? I live in Washington State and my wife really needs that help.
Thank you for the update! If you have questions, or need help getting your Medicare coverage set up correctly, give us a call at 1-800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
Do what you can afford in America. Everyone don't have the $$$
Thank you so much it was very informative 😊
Glad it was helpful!
I have paid 1300.00 for blood thinners xarelto they need to look at that
We would be happy to look into your drug costs. Give us a call at 1-800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
Are Part D plans portable like Plan G since at some point I will be moving from NC to PA? Something off topic: When my employer & ACA health insurance stops at age 65 & my full retirement age to start Social Security is age 70. Will I be required to withdrawal the minimum amount starting at age 70 1/2 like it is currently?
Part D is not portable, you would need to change your plan once you move. At age 70 (FRA) you would be given the full amount.
I do not take any meds but paying $80.00 per
Month called medi-c
are I was told have to
Wait til October to look
For less expensive plan
You do such a great job.
Thank you for watching!
Assets: You did not mention CD's. Are these counted? What proof of assets and income is required?
Reach out to yur local Social Security Administration to assist
Great info, thanks Marvin!
Question about the formularies - Since we need to pick a part D company the year before, are the formularies lock in? I understand if we are put on a drug it may not be covered but can insurance company pull it's formulary after the enrollment period or during the year we signed up for?
You're welcome. They are pre-established & set for the coming year. All of the Part D companies have to cover atleast 2 drugs in every therapeutic category.
@@MedicareSchool [[[[[[[[
Immunizations are not self administered. Why are they in Part D?
Most immunizations are covered under Part B... If you have questions, or need help getting your Medicare coverage set up correctly, give us a call at 1-800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
My head just exploded
That sounds like a real problem Paul. Might want to get that checked out.
Hope you have insurance.
Can I convince you to stick with one term for medigap, suplimental and stand alone? They are all the same aren’t they? If the are I find Medicare confusing enough without using different words for the same thing.
A Medigap policy is a supplement to Original Medicare coverage, therefore the terms are interchangeable. Stand alone is a term that describes Part D without any additional coverage attached. I appreciate your insight and will keep it in mind.
@@MedicareSchool you just did it again. You clearly had part D under supplemental plans! This is confusing. Plan d is a supplemental plan. All the supplemental plans are stand alone plans and medigap plans aren’t they? Can you understand the unnecessary confusion this causes people who are trying to figure Medicare out. I’m not trying to be rude and maybe this is the fault of Medicare. I see this kind of thing in other gov documents.
Thank you
You're welcome
Ghost of Medicare Future, I fear you the most!
If I will have TRICARE will I need Part D ?
Not if you Tricare covers prescriptions
My Aetna Silver Script plan D for 2023 is $10.90 per month. I received a letter telling me that it will be raised to $31 a month in 2024. That amount is way over the 6% you say they are able to raise my premium next year. How are they going to be able to do that?
If you have questions or need help setting up your Medicare coverage correctly, give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com
If you have tricare do you need Medicare part D?
Please define income. Does it include social security?
Yes.
what is considered INCOME? does it include SS and pension?
Reach out to yur local Social Security Administration to assist
Simplify & treat all the same with Medicare for All.
I wanted basic D but was told I had to pay back the years I wasnt signed from the tome I got Part B!!! Is this ture or a gimick to sign up with a Advantsge Plan????
There is a penalty associated with not getting Part D & B when first eligible to do so...
Our Part D plan is going from $39 per month to $59 a month!!!!
If you need help setting up your Medicare coverage correctly, give us a call at 800-864-8890 or visit us at www.medicareschool.com
Mine is going up from 67$ to over 120$. Silverscript plus.
Are you also talking about the state-federal government paying for the Medicare part b premium for 2024 at 150% FPL? The "Medicare premium payment program "If so where are you getting this information from? My benefits specialist for my state would like to know for working adults with disabilities. Thank you
www.medicare.gov/medicare-savings-programs
Does income include SS?
Ah, to qualify for the extra help program (LIS) can this occur at any time during a calendar year, or do you have to wait for the open enrollment period?
You can apply for LIS help anytime
Anytime
@@MedicareSchool Can I apply for extra help even I'm married and both of us collect retirement
My current company did not explain things very well to me when I switched from an Advantage Plan to Medicare and I believe that I didn't get the best plan for me. I think that I would get better advice from your firm. Will I be able to switch from my current company to your company?
We're happy to review all your options. If you have any questions please, feel free to give us a call at 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
Extra Help? What a joke. 99% of Medicare recipients make much much more than the Federal Poverty Level .. . .
Not necessarily. Extra Help and Medicaid have different income limitations. If you have questions, or need help getting your Medicare coverage set up correctly, give us a call at 1-800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
I pay $62. on my Med D plan and in January 2023 they dropped two of my meds that cost me now $400. a month each. I had my doctor fill out an exemption form for my plan but evidently he didn't follow through within 30 days. Now I'm just doing without the meds.
" Now I'm just doing without the meds?" Thats likely a very bad idea.....Talk to your Dr. immediately!
I’m sorry, maybe the doctor can help. I hope you can solve the issue!
We'd love to help you evaluate your options. Please give us a call at 1-800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
What is the penalty for not having part d until you are 80?
Medicare calculates the penalty by multiplying 1% of the "national base beneficiary premium" ($32.74 in 2023) ($34.70 in 2024) times the number of full, uncovered months you didn't have Part D or creditable coverage. The monthly premium is rounded to the nearest $.10 and added to your monthly Part D premium.
It’s wrong to make single people pay more per person than a couple.
If I take an Enhanced and 3 years later I want to switch to a Basic, is that a difficult process? How many hoops will I need to jump through?
You can change your prescription drug plan every year during the Annual Election Period.
If you need help getting your Medicare coverage set up correctly, feel free to give us a call at 800-864-8890 or schedule a free appointment here:
www.medicareschool.com/talk-to-a-guide?rc
.
Quick nit. 135% of anything is not a lower number. You did in the verbiage say the number together are used but I’d encourage you to fix the graphic. 😇
Thanks for the comment.
If a spouse would qualify for extra help but the other spouse wouldn't can, the one spouse get the one get extra help.?
Yes, they can use the extra help if they qualify.
When calculating if I qualify for Medicare extra help, do I use the actual amount that is deposited in my checking account, or the actual amount before the part B premium?
You will use the amount of your gross income, meaning before Part B is deducted.
@@MedicareSchool Shucks...I thought so.
You have to be poverty stricken to get help with benefits.
My team would be happy to assist you with setting up your Medicare coverage correctly. Give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com
You are wrong about the Insulin $35.00 per month co-pay. My doctor wrote a prescription for the month and I paid the $35.00. My insurance provider the back charged my annual total dollars $1,960.00. That is the catch. in three months, I would have been in the donut hole and I would have too pay $980.00 per month until I reached the Catastrophic phase.
What was prescribed? It may not be considered insulin, for example, trulicity is not. Here is the info about insulin directly from medicare.gov - www.medicare.gov/coverage/insulin