by Eileen Doherty
Each year the federal government makes changes to the Medicare. Beneficiaries are advised to go through the process of determining if they are satisfied with their current coverage with a Medicare Supplement, a Medicare Advantage Plan and/or prescription drug coverage.
The Colorado Gerontological Society is sponsoring Medicare Monday on Oct. 20, 27, & Nov. 3, in 15 locations.
Open enrollment to change Medicare Advantage Plans and prescription drug runs Oct. 15, through Dec. 7, 2014. Changes made during this time take effective Jan. 1, 2015.
Individuals who are new to Medicare should plan to attend a Medicare Monday to learn more about the basics, coverages, and benefits. 2015 changes, health promotion and prevention initiatives, durable medical equipment changes, and changes in reimbursement to Medicare providers are discussed.
Medicare has not announced the Part A & B deductible. According to a news release from the Centers for Medicare and Medicaid Services, the Medicare Part B is expected to hold steady at $104.90 per month. Part D monthly plan premiums are expected to increase an average of $1 per month.
Some of the Medicare Advantage Plans in Colorado have made changes to provider networks. Some members are being assigned new physicians. Other members are experiencing problems finding physicians that accept new patients.
During open enrollment, Medicare Advantage members who want to keep their “current” physician who may no longer be part of a network can sign up with a new Medicare Advantage plan or consider purchasing a Medicare Supplement.
Medicare has announced changes for the 2015 Prescription Drug benefit. The annual deductible will increase to $320 per year. Beneficiaries will pay 25% of the cost of prescriptions for the next $2960 or approximately $740. Individuals who use more than $3280 per year in drugs will reach the coverage gap (or the donut hole). Beneficiaries will pay 65% of the cost of generic prescriptions and 45% of the cost of name brand prescriptions. Individuals whose prescription drug costs exceed $7061 in 2015 will pay $2.65 for generics and $6.60 for name brand drugs.
Some prescription drug companies in Colorado are making changes to the formularies. Thus beneficiaries should check their current plan to determine if the plan still meets their needs. Counselors are available to help with comparison shopping for prescription drug plans.
Seniors whose income is less than $993/month ($1331/m couple) from all sources and have less than $8660 in assets ($13,750 couple) excludes the home, car, term life insurance policy, and irremovable burial policy can sign up for help paying for the Medicare Part B premium. The same individuals are eligible for assistance paying for prescription drug costs. To apply, call 1-855-293-6911.
Medicare Monday on October 20, 9:30-11:30 am at the these locations: Eaton Terrace, 333. Eaton St., Lakewood; Heritage Club of Denver, 2020 S Monroe; Mont- bello Manor, 4355 Carson St, Denver; Sunrise Senior Living, 10280 Sheridan Blvd, Westminster; Holly Creek, 5500 E Peakview Av, Centennial; and The Inn at Garden Plaza, 2520 International Cir, Colorado Springs.
Follow-ups on Oct. 27, 9:30-11:30 am at The Bridge at Alamosa, 3407 Carroll St; Northglenn S.C., 11801 Community Center Dr, Northglenn; RiverPointe of Littleton, 5225 S Prince St; St. Andrew’s Village, 13801 E Yale Av, Aurora; Windsor Gardens Auditorium, 595 S Clinton, St, Denver. Followups on Nov. 3, 9:30-11:30 am at Foothills Park, 6612 S Ward St, Littleton; and Third Street Center, 520 S 3rd St, Carbondale.
Refreshments are served. To schedule an individual counseling appointment or to make a reservation for Medicare Monday, call 1-855-880-4777.
~ Eileen Doherty, MS is the Executive Director of the Colorado Gerontological Society since 1982. She can be reached at doherty001@att.net.