Looks like the Part B premium for 2023 was announced while I was working on this video. Down 3% for 2023 to $164.90 / Annual Part B deductible down to $226 from $233 IRMAA tables now start at $97,000 instead of $91,000
I waited until November 29 to check out the part D shopper but was surprised to find a plan whose premium was half my current plan with pretty much the same benefits. Really appreciate the PartD shopper website. I try to manage my health with alternatives to drugs wherever possible so I can use the plan with the lowest premium.
I enjoy the Shorts. Didn’t realize they were UA-cam promoted. I’ve seen just one (yesterday), and wanted to tell everyone I know “Hey look, it’s the Medicap guy, Matthew! He’s famous!” It was good to see you Matthew. Well done. 8-)
Again, thanks for supplying such critical information. I’ll be shopping for a part D plan for 23. I’ll be 82 next month and have never had part D. Still only on one thyroid medication. Thanks for your previous answer regarding this subject. I’ve found out my penalty will be about $68 per month. I’ll be watching your recommendations for part D. Thanks for all the help you provide!
Thank you CCCar67 Go to my Part D website: partdshopper.com/ on or after October 15 and you can input your meds and find the lowest cost plan. By the way, if your thyroid medication is Armor or Naturesthroid (both desiccated pig thyroid) they will not show up on the list of prescriptions. These drugs pre-date the FDA and are thus not covered by Medicare.
Hello, I understand that the income used to calculate IRMAA is from the 2-year prior tax return. What I’m confused about, is which threshold is looked at. For example, for 2024, lets say our Magi income in 2022 was 94,000. Which thresh hold do I look at? 2022 is 91,000; 2023 is 97,000: 2024 is 102,500.
IRMAA is calculated by 1. determining your Modified Adjusted Gross Income. 2. The table changes every year with inflation. 3. For your IRMAA based on 2023 income , you will use the Table generated in 2025.
Thank you! I love your videos--they are so informative. When you helped me with plan selection a few years ago, it was determined that if I ever switched plans (I have a supplemental plan) I would need to undergo a physical which i did not have to do when I signed up initially. (I have MS but on no meds and T2 Diabetes.) Is this still the case? Aetna keeps raising monthly rates.
Everyone is increasing rates. This is the highest inflation since 1981. You cant escape higher rates. You have a great plan with one of the top companies in Medicare. It’s not a bad place to be “stuck”. You do have the ability to move to an Advantage plan if needed. Please send us an email or call. We will see if there are any state rules that can help. 800-847-9680. Support@medigapseminars.org
Matthew, did you say the shingles vaccine is covered in Part D in 2023? Is that for all Part D plans? Love the videos. I watched them all before I signed up in 2020 and I'm watching them again for my wife who is 65 in January. Thanks for the help. I'll contact Candy soon. Great work!
It would be your Part D that would cover it. I know for 2022 it was up to the Part D plan to cover shingles vax or not. I do not know if the Part D plan is no required to offer it. I have seen language that alludes to a requirement. But no clear statement.
James, I found the answer. Medicare administers vaccines under both Medicare Part B and Medicare Part D. All vaccines under Medicare Part B will be free. As of 2022 plan year, the shingles vaccine will be under Medicare Part D. that means not all Part D plans will offer the vaccine and they can each have a different cost associated with it. www.kff.org/medicare/issue-brief/explaining-the-prescription-drug-provisions-in-the-inflation-reduction-act/#bullet05
Why does the Medicare supplement form of most carrier require Medicaid information ? I receive Medicare savings program. The state Medicaid helps pay my part B premium, and I will pay the Medicare supplement myself. Will my application get rejected or have a discount because of this?
Why, if you’re new to Medicare ‘now’, e.g, 10/1/22, do I get to ignore AEP? 2023 Advantage plans in my area have better benefits than what is available in 2022.
You get to ignore AEP because it is irrelevant if you are new to Medicare. Since you said you became eligible on 10/1/22, that means as a new enrollee, you have your own initial enrollment period which gives you a 6 month period of time starting the month you turn 65.
Good information thanks I’m with Humana and drugs are part of my ppo plan should look for something better it seems to be ok I do pay some copay for some drugs , I was with united health care when I was working and I’m thinking about going back for the reason that some doctors are easier to find and closer to me I’m in Miami Florida 33157 area what’s your thoughts? Thanks
Why am I receiving notifications for your channel? Please don’t send me any more notifications because I’m not interested and I have no reason to be interested in Medicare.
How about the Blue Cross Medicare Advantage Flex (PPO) Plan, is it really much better than Medicare Plan G? I have a high deductive Plan F, but I am getting a lot of medical bills & co pays, so I am thinking of switching to Plan G. but my agent introduced me to this Blue Cross Medicare Advantage Flex (PPO) Plan. I am from Illinois. 60188 I hope you can help me decide. Thanks
Looks like the Part B premium for 2023 was announced while I was working on this video. Down 3% for 2023 to $164.90 / Annual Part B deductible down to $226 from $233 IRMAA tables now start at $97,000 instead of $91,000
The cost of living allowance increase to Social benefits just went to your part B deduction...
I waited until November 29 to check out the part D shopper but was surprised to find a plan whose premium was half my current plan with pretty much the same benefits. Really appreciate the PartD shopper website. I try to manage my health with alternatives to drugs wherever possible so I can use the plan with the lowest premium.
I really learn so much from your videos. Thank you so much for all the accurate info and the digging deep🧐
I enjoy the Shorts. Didn’t realize they were UA-cam promoted. I’ve seen just one (yesterday), and wanted to tell everyone I know “Hey look, it’s the Medicap guy, Matthew! He’s famous!” It was good to see you Matthew. Well done. 8-)
Thank you Linda. 🙂
Again, thanks for supplying such critical information. I’ll be shopping for a part D plan for 23. I’ll be 82 next month and have never had part D. Still only on one thyroid medication. Thanks for your previous answer regarding this subject. I’ve found out my penalty will be about $68 per month. I’ll be watching your recommendations for part D.
Thanks for all the help you provide!
Thank you CCCar67 Go to my Part D website: partdshopper.com/ on or after October 15 and you can input your meds and find the lowest cost plan. By the way, if your thyroid medication is Armor or Naturesthroid (both desiccated pig thyroid) they will not show up on the list of prescriptions. These drugs pre-date the FDA and are thus not covered by Medicare.
Thank you for sharing this
Thank you for brief explanation of 2023 changes in Medicare.
Hello, I understand that the income used to calculate IRMAA is from the 2-year prior tax return. What I’m confused about, is which threshold is looked at. For example, for 2024, lets say our Magi income in 2022 was 94,000. Which thresh hold do I look at? 2022 is 91,000; 2023 is 97,000: 2024 is 102,500.
IRMAA is calculated by 1. determining your Modified Adjusted Gross Income. 2. The table changes every year with inflation. 3. For your IRMAA based on 2023 income , you will use the Table generated in 2025.
@@MedigapSeminars Thank you
Thank you for this very important info.🙏👍
I like your videos! They are very informative and easy to listen to.
Thank you DC. I appreciate your saying so.
Thank you. You are appreciated.😊
😄
Thank you! I love your videos--they are so informative. When you helped me with plan selection a few years ago, it was determined that if I ever switched plans (I have a supplemental plan) I would need to undergo a physical which i did not have to do when I signed up initially. (I have MS but on no meds and T2 Diabetes.) Is this still the case? Aetna keeps raising monthly rates.
Everyone is increasing rates. This is the highest inflation since 1981. You cant escape higher rates. You have a great plan with one of the top companies in Medicare. It’s not a bad place to be “stuck”. You do have the ability to move to an Advantage plan if needed. Please send us an email or call. We will see if there are any state rules that can help. 800-847-9680. Support@medigapseminars.org
Matthew, did you say the shingles vaccine is covered in Part D in 2023? Is that for all Part D plans? Love the videos. I watched them all before I signed up in 2020 and I'm watching them again for my wife who is 65 in January. Thanks for the help. I'll contact Candy soon. Great work!
It would be your Part D that would cover it. I know for 2022 it was up to the Part D plan to cover shingles vax or not. I do not know if the Part D plan is no required to offer it. I have seen language that alludes to a requirement. But no clear statement.
James, I found the answer. Medicare administers vaccines under both Medicare Part B and Medicare Part D. All vaccines under Medicare Part B will be free. As of 2022 plan year, the shingles vaccine will be under Medicare Part D. that means not all Part D plans will offer the vaccine and they can each have a different cost associated with it. www.kff.org/medicare/issue-brief/explaining-the-prescription-drug-provisions-in-the-inflation-reduction-act/#bullet05
Why does the Medicare supplement form of most carrier require Medicaid information ? I receive Medicare savings program. The state Medicaid helps pay my part B premium, and I will pay the Medicare supplement myself. Will my application get rejected or have a discount because of this?
Do you also cover state of California? thank you
Yes Of course. 800-847-9680
Is there's a penalty for not enrolling to part B of medicare. After the enrollment period because your still working.
I'm going to be 60 in August , when can I enroll for medicare??
Is $91,000 a gross income or an adjusted growth income?
Why, if you’re new to Medicare ‘now’, e.g, 10/1/22, do I get to ignore AEP? 2023 Advantage plans in my area have better benefits than what is available in 2022.
Be careful, very careful of disAdvantage plans. There's a reason they have to be so heavily promoted.
You get to ignore AEP because it is irrelevant if you are new to Medicare. Since you said you became eligible on 10/1/22, that means as a new enrollee, you have your own initial enrollment period which gives you a 6 month period of time starting the month you turn 65.
Is enrolment start ?
Good information thanks I’m with Humana and drugs are part of my ppo plan should look for something better it seems to be ok I do pay some copay for some drugs , I was with united health care when I was working and I’m thinking about going back for the reason that some doctors are easier to find and closer to me I’m in Miami Florida 33157 area what’s your thoughts? Thanks
🌎sharing
Thank you
Why am I receiving notifications for your channel? Please don’t send me any more notifications because I’m not interested and I have no reason to be interested in Medicare.
I don't control that. Big tech thinks you would be interested.
How about the Blue Cross Medicare Advantage Flex (PPO) Plan, is it really much better than Medicare Plan G? I have a high deductive Plan F, but I am getting a lot of medical bills & co pays, so I am thinking of switching to Plan G. but my agent introduced me to this Blue Cross Medicare Advantage Flex (PPO) Plan. I am from Illinois. 60188 I hope you can help me decide. Thanks