It’s happy time again for 617,431 or so Mississippians. Medicare enrollment opens on October 15th.
The Center for Medicare and Medicaid Services counts its clients and 617,431 was the number of Mississippians on Medicare at the end of June 2022. That amounts to about 21% of the state’s total population.
It’s happy time because it is so much fun opening the hundreds of mailers stuffed in mailboxes that offer the no doubt best deals on this plan and that plan.
It’s happy time because seniors get to play the lottery by picking terrific sounding Medicare Advantage Plans or sticking with Original Medicare with separate Part D drug coverage.
In Mississippi CMS says only 17% choose Medicare Advantage plans.
It’s happy time because comparing one plan to another, particularly the drug plans, is so much fun!
It’s happy time because you get to search and search to see if your drugs are still covered and which pricing tier they fall into.
It’s happy time because your Part D drug plan this year may not be available in your area next year.
Okay, it really is a happy time because Medicare Part B basic costs will drop from $170.10 to $164.90 per month and many Medicare Advantage plans are lowering monthly costs. Plus insulin costs under Part D will be capped.
And it really is a happy time because the monthly Social Security payments most use to pay monthly Medicare and Part D premiums will be going up next year (estimates range from 8% to 10%).
But it’s not a completely happy time for several reasons:
1) Most Part D drug plans are increasing monthly premiums and/or increasing deductibles. For example, the monthly premium for the popular Silver Script Plus (PDP) plan with zero deductible will increase from $59 to $75.90 per month. The monthly premium for the Humana Walmart Value RX Plan (PDP) will increase from $22.70 to $30.60 and the deductible will increase from $480 to $505. The monthly premium for the AARP MedicareRx Saver Plus (PDP) plan will increase from $44.00 to $49.80 and the deductible will increase from $480 to $505.
2) Costs related to the tiers drugs fall into are going up as well as the costs of some drugs.
3) The costs of many to most of those fabulous new drugs you see advertised endlessly on TV will still cost a fortune even with Part D coverage.
Donut hole anyone?
“Rejoice always, pray without ceasing, give thanks in all circumstances for this is the will of God in Christ Jesus for you” – 1 Thessalonians 5:16-18.
Crawford is a syndicated columnist from Jackson.
8 comments:
Do tons of research before switching to a Medicare Advantage plan, especially if in the boonies. You may encounter some high-pressure salespeople, but always remember they are looking after their own best interests, no matter how persuasive/caring they are.
Pssst mister, you want to buy a cheap Medicare Advantage plan? Give me your credit card number and I will be right back.
Finally, something worth reading from this writer. Maybe he missed his calling?
Avoid Medicare Advantage plans. Those private insurers are ripping off Medicare federal dollars. The COLA to social security will help some people better afford their medications. I think the COLA increase will happen in 2023.
Very few providers accept Medicare Advantage. They are worthless.
10:01 you find it worthwhile reading for the same reason others found it interesting - Crawford is writing about something that he knows a lot about, as each of these things apply to him personally, as it sounds like is true for you.
One thing Crawford didn't say about why this will not be a fun time for Seniors - and he probably skipped saying it since he could find no way to blame it on Tate or the current Republican leadership - is that the reason Social Security is going up with its monthly is due to the inflation caused by Joe Biden and the current 'leadership' in Washington. Pouring down from helicopter drops bags of money for anything and everything is increasing all costs. And this 8" increase in SS is not going to do much to help address these higher costs.
But like I said, he can't blame that on Tate so he skipped that in his well taken commentary about the fun of reading through and listening to all the Medicare propaganda.
There are no Medicare Advantage plans in Mississippi.
You've got to be in area of 8-10 million people for those to make sence. See Bogleheads.
We do not have the population to support a MA plan.
1:42 - But Smokin' Joe Namath and JJ grinned and promised. And if you can't trust DYNOMITE and a man in a floor length mink coat, who can you trust?
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