Allsup Walks to End Alzheimer’s and Provides Medicare Information at Southwestern Illinois College, Sat., Oct. 10
Allsup Medicare Advisor® helps beneficiaries and their caregivers take advantage of Medicare annual enrollment Oct. 15 to Dec. 7
Belleville, Ill.–Oct. 8, 2015– Team members from Allsup, a nationwide provider of Medicare plan selection services, will participate in the St. Louis Chapter’s Alzheimer’s Association Walk to End Alzheimer’s® Saturday, Oct. 10 at Southwestern Illinois College. Allsup Medicare Advisor ® specialists will be available to provide information on Medicare plan selection services.
“The Medicare annual enrollment period starts next week, and there are a number of new options that beneficiaries and their caregivers may want to consider,” said Aaron Tidball, manager, Allsup Medicare Operations.
During Medicare annual enrollment Oct. 15 to Dec. 7, all Medicare beneficiaries can change their Medicare plans for 2016 to better match their personal health and financial needs.
“Premium increases are possible, so Medicare beneficiaries will want to take a close look at the information they receive from their providers,” said Tidball. “This may be the year to review the Medicare Advantage plans available, if they haven’t done so before.”
Medicare Special Needs Plans (SNPs) are available for individuals with dementia, including Alzheimer’s disease. SNPs are Medicare Advantage plans that specialize in care and coverage for beneficiaries with dementia. Only Medicare beneficiaries with dementia can enroll in these plans.
Other factors that may influence individuals to change their Medicare plan selections for 2016 include:
Part D prescription drug options and costs. The Part D initial deductible will increase by $40 to $360 in 2016. Drug cost sharing during catastrophic coverage will be $2.95 for generic or preferred drugs (multi-use source) and $7.40 for all other drugs. In addition to costs, beneficiaries should look for changes to the drugs covered under the plans they are considering for 2016.
Changes with the drug donut hole. Beneficiaries who reach the prescription drug gap will need to be aware of their out-of-pocket costs. In 2016, the gap will begin when someone reaches the initial coverage limit of $3,310 and ends when they have spent $4,850. (These are increases of $350 and $150, respectively.) Catastrophic coverage begins at this point. During the donut hole, all costs are covered by the individual. However, they benefit from additional discounts of 55 percent on brand name drugs and 42 percent on generic drugs while in the donut hole.
Medicare Part B premiums. The Medicare Trustees report issued earlier this year points to higher premiums for at least a portion of Medicare beneficiaries, primarily those who are new enrollees in 2016, those who pay higher premiums due to income, and those billed directly for their Part B premium.
Medicare Advantage plan options and costs. Participants using Medicare Advantage plans should examine their current plans for changes in 2016. Costs, including premiums, deductibles, co-pays and coverage for procedures, tests and drug formularies could change. Some plans may be eliminated, requiring enrollees to choose a new plan for 2016 or default to Original Medicare.
Click here to request information from an Allsup Medicare specialist. Call (866) 521-7655 for more information about the Allsup Medicare Advisor®.
For information on the St. Louis Walk to End Alzheimer’s, click here.
Allsup and its subsidiaries provide nationwide Social Security disability, veterans disability appeal, re-employment, exchange plan and Medicare services for individuals, their employers and insurance carriers. Allsup professionals deliver specialized services supporting people with disabilities and seniors so they may lead lives that are as financially secure and as healthy as possible. Founded in 1984, the company is based in Belleville, Illinois, near St. Louis. For more information, go to Medicare.Allsup.com or call (866) 521-7655. Financial advisors seeking more information may go to FinancialAdvisor.Allsup.com or call (888) 220-9678.