With the New Year in full swing, Texas Medicare insurance recipients should be prepared for a few changes. Some are good, some not so much. Nevertheless, they’re here to stay and we all need to know about them. Take a few minutes to familiarize yourself with some of the most important 2012 Medicare changes and be prepared to make informed decisions concerning your health care.
Important Date Changes
Annual Enrollment is Earlier
One of the most important changes to Texas Medicare this year is the new Annual Enrollment period. It now begins on October 15th and ends on December 7th. This starts- and ends a bit earlier than last year. Make certain to note these dates as Annual Enrollment is when you can make changes to your existing Medicare health or Prescription Drug Plan.
Special Enrollment
Special Enrollment gives seniors the chance to enroll or switch plans outside of the Annual Enrollment period. In 2012, you’re now allowed to switch to a Medicare Advantage Plan or Medicare Prescription Drug Plan with a five star rating at any time during the year.
“Medicare and You” handbooks should have been mailed out in mid-September this year as opposed to October. All Medicare beneficiaries receive this book. You should have received it by now, keep an eye out for it- it’s a useful resource for answering common questions and concerns. In addition, for the 2012 contract year, you should have received your Annual Notice of Change (ANOC) and Evidence of Coverage (EOC) documents by September 30, 2011.
Deductible and Premium Amounts
Interestingly, the 2012 part B premium has decreased. However, for folks who were already paying $96.40, there is a slight increase of $3.50. Remember, certain folks who make more money will pay more as the premium is income adjusted.
- Part B Premium is $99.90 a month ($ 115.40 in 2011)
- Part A Deductible is now $1,156 ($1,132 in 2011)
- Part B Deductible is now $140 ($ 162.00 in 2011)
Changes to Part D
- Part D Maximum Deductible is now $320 ($310 in 2011)
- Part D Initial Coverage Limit is now $2,930 ($2,840 in 2011)This is where the “donut hole” begins
- Part D Maximum Out-of-Pocket Cost is $4,700 ($4,550 in 2011)
Benefits
As per the Affordable Care Act, preventive services are still covered 100 percent. This means there’s no copayment for these services at all. Preventive includes flu shots, screenings, diabetes tests, wellness checks etc. – this is good news to all people, not just those on Medicare. In addition, in 2012, standard Medicare will cover screening and counseling for alcohol misuse, depression and obesity.
Medicare Advantage
In 2012, Medicare Advantage plans are prohibited from having higher cost sharing requirements for certain medical services like chemotherapy, skilled nursing and other services. Also, beginning in 2014, Advantage plans will have limitations on profits. As a consequence, many providers will decide to exit the Medicare Advantage market.
Increased Coverage for Prescription Drugs
Seniors enrolled in PDP’s and MA-PD’s will continue to save money in 2012. When the coverage gap or “donut hole” is reached, there’s a 50% discount on brand name drugs as well as 14% increase in generic drug coverage. That’s up 7% from 2011.
Keep informed and up to date with changes in Medicare to ensure that you continue to receive the highest quality care possible. Stay with reliable and stable providers like United of Omaha, Blue Cross Blue Shield of Texas and Gerber- major carriers that you can depend on to continue to provide quality care at an affordable price.
For additional information on how these changes affect you or to obtain a supplement quote on Texas Medicare Insurance visit our website.