Helping your clients with Medicare Part D coverage understand the mechanics of the Medicare Part D coverage gap can be a daunting task. We are going to cover a couple of the more difficult questions raised regarding the coverage gap in this segment.
One of the more common questions agents get asked from their Medicare clients is “what is the Medicare Part D late enrollment penalty?” It is fairly easy to explain that if a Medicare member spends more than 63 consecutive days without having Part D or creditable drug coverage, they will be required to pay a late enrollment penalty should they choose to enroll in a Part D plan in the future. The typical follow-up question is “will I have a late enrollment penalty?” This is also usually pretty easy to answer, assuming the agent asks the proper questions of the client and the client responds with accurate answers about prior coverage.
Earlier this week I read that our country’s spending on health care has been at historic lows for a third straight year. The conclusion was formed by comparing health spending growth rates to the overall growth of the economy, reasoning that it’s easier to keep up with the costs if the two are aligned, than if health spending surges ahead.
You have been kind enough to receive emails from me for the last seven years about Humana’s Medicare Advantage plans. Today I would like to share my personal experience from yesterday with enrolling into a Humana plan.
As you know, selecting the correct election period for your client when facilitating an MAPD enrollment is an important step toward ensuring the beneficiary’s enrollment form is processed for their proposed effective date. For 2013, there is a change in guidance of when to use IEP vs. ICEP. Let’s take a closer look…