by Roy Whited
As the attorney in fact, also known as the Power of Attorney, for my 86 year old mother, most of her mail is sent to my home address. Over the weekend, we received a four-page informational worksheet from CMS, Centers for Medicare & Medicaid Services. This was a message from Kathleen Sebelius, Secretary of Health and Human Service. While much of the information is general, it did talk about improvements in Medicare you will see right away.
More Affordable Prescription Drugs
- If you enter the Part D “donut hole” this yea, you will receive a one time, $250 rebate check if you are not already receiving Medicare Extra Help. These checks will begin mailing in mid-June and will continue monthly through out the year as beneficiaries enter the coverage gap.
- Next year, if you reach the coverage gap, you will receive 50% discount when buying Part D covered brand-name prescription drugs.
- Over the next ten years, you will receive additional savings until the coverage gap is closed in 2020.
Important New Benefits to Help you Stay Healthy
- Next year you can get free preventive care services like colorectal cancer screening and mammograms. You can also get a free annual physical to develop and update your personal prevention plan based on current health needs.
Improvements to Medicare Advantage
- Today, Medicare pays Medicare Advantage insurance companies over $1000.00 more per person on average than Original Medicare. These additional payments are paid for in part by increased premiums by all Medicare beneficiaries – including the 77% of seniors not enrolled in a Medicare Advantage plan.
- The new law levels the playing field by gradually eliminating Medicare Advantage overpayments to insurance companies.
- If you are in a Medicare Advantage plan, you will still receive guaranteed Medicare benefits.
- Beginning 2014, the new law protects Medicare Advantage members by taking strong steps to ensure that at east 85% of every dollar these plans receive is spent on health care, rather than administrative costs and insurance company profits.
For more information about the new health care law and other improvements that you will see soon, visit www.medicare.gov or call 1-800-633-4227. In Ohio you can call OSHIIP 1-800-686-1578, or call our office to discuss your specific situation and concerns as part of your overall estate plan.
