Medicare 2017

Medicare 2017 costs at a glance

Repost by: 

Listed below are basic costs for people with Medicare. If you want to see and compare costs for specific health care plans, visit the Medicare Plan Finder.

For specific cost information (like whether you've met your deductible, how much you'll pay for an item or service you got, or the status of a claim), visit MyMedicare.gov. 

Find out if Medicare covers a specific test, item or service that's not listed under the detailed Medicare cost information section of this page.

2017 costs at a glance
Part A premium	Most people don't pay a monthly premium for Part A (sometimes called "premium-free Part A"). If you buy Part A, you'll pay up to $413 each month. Calculate my premium.
Part A hospital inpatient deductible and coinsurance	You pay:  $1,316 deductible for each benefit period Days 1-60: $0 coinsurance for each benefit period Days 61-90: $329 coinsurance per day of each benefit period Days 91 and beyond: $658 coinsurance per each "lifetime reserve day" after day 90 for each benefit period (up to 60 days over your lifetime) Beyond lifetime reserve days: all costs
Part B premium	The standard Part B premium amount is $134 (or higher depending on your income). However, most people who get Social Security benefits will pay less than this amount ($109 on average).
Part B deductible and coinsurance	$183 per year. After your deductible is met, you typically pay 20% of the Medicare-approved amountfor most doctor services (including most doctor services while you're a hospital inpatient), outpatient therapy, and durable medical equipment.
Part C premium	The Part C monthly premium varies by plan. Compare costs for specific Part C plans.
Part D premium	The Part D monthly premium varies by plan (higher-income consumers may pay more). Compare costs for specific Part D plans.

Detailed Medicare cost information for 2017

expand iconMedicare Part A (Hospital Insurance)

expand iconMedicare Part B (Medical Insurance)

expand iconMedicare Part C (Medicare Advantage)

expand iconMedicare Part D (Medicare prescription drug coverage)

Read More @: https://www.medicare.gov/your-medicare-costs/costs-at-a-glance/costs-at-glance.html

Open Enrollment

It’s your choice: Take advantage of open enrollment

*REPOST* Brought to you by UHC:

https://www.uhc.com/newsletters/september-2016/take-advantage-of-open-enrollment?srcName=smf-ban

If your employer offers health benefits, you may start hearing soon that it’s time for open enrollment. This is the time of year when you can make choices about your coverage for the next year. Open enrollment is sometimes called annual enrollment or benefits enrollment.

Before you know it, it will be time to choose your coverage. So take a moment to review these tips and tools that may help you prepare.

Seven questions to ask

Your employer may offer one health plan or multiple options for health coverage. When deciding what’s right for you and your family, keep these questions in mind:

1. Is my doctor in the network?

If you have doctors or specialists you like, be sure they’re in the network of the plan you choose. Why? Your costs are usually lower when you use a network doctor.

Visit myuhc.com® to find out if your doctor is in the plan’s network. You can also find a doctor with theUnitedHealthcare Health4Me® mobile app.

2. Is my medicine covered?

Most plans have a list that shows which prescription medicines are covered. It’s called a formulary or Prescription Drug List (PDL).

To see which medicines are on your plan’s list, go to myuhc.com — and click on “Pharmacies & Prescriptions.”

3. Who else needs to be on my plan?

Some plans offer coverage for your spouse, partner or children. These are your dependents. If the plan offers dependent coverage, children under age 26 without their own health coverage can be on your plan.

4. What type of health coverage is right for me?

You may be offered a choice between a “traditional” copay health plan and a high-deductible health plan. With a traditional copay plan, your monthly premium will be higher — and you will pay a fixed copay amount, such as $25, for each doctor visit. With a high-deductible plan, your monthly premium may be lower. But you may have a higher share of out-of-pocket costs.

How do you decide what’s right for you? Think about what health care services you and each family member might need in the coming year. For example:

• Are there medications you take routinely?
• Are you planning to have surgery?
• Do you see a doctor regularly for a health condition?
• Are you planning to have a baby?

5. What other costs should I plan for?

In addition to the premium and deductible, you may also have copays or coinsurance. To learn more about the difference, see this infographic.

Then try this worksheet to help you plan for your potential costs.

6. Will I have access to an HSA, HRA or FSA?

Check with your employer to see if a health savings account (HSA), health reimbursement account (HRA) or flexible spending account (FSA) is available to you.

These are all ways to use tax-free money to help pay for medical expenses. But there are differences. Learn more in this infographic.

7. What other benefits does my employer offer?

Carefully read the information your employer sends you. Some health plans include incentives for healthy living. And your employer may offer dental, vision or disability benefits too.

What to do next

Start planning for your health care costs in the coming year:

• Fill out this helpful health costs worksheet.
• Watch for emails from your employer about open enrollment dates.
• Take time to consider your options — so you can choose a plan that’s right for you.

© 2016 United HealthCare Services, Inc.

Medicare 101: What is Part D?

What Is Medicare Part D and Who Qualifies?

*Repost* Brought to you by: TransAmerica: http://blog.transamerica.com/what-is-medicare-part-d#.V_QNDOUrJhE

Medicare Part A and B together make up what is known as Original Medicare and provide coverage for many things that are typically categorized as hospital insurance and medical insurance, including emergency care. But often, taking care of your daily health comes with medicines prescribed by your doctor. This is where Medicare Part D enters your healthcare picture.

What does Medicare Part D cover?

Simply put, Medicare Part D covers a patient’s prescription drugs. In the Medicare system, drugs are put intotiers based on formularies, which results in different price levels. Medicare Part D plans are generally set up to provide coverage at levels that correspond to the prescription drug tiers. In this guide, you can find a description of some common situations people face, as well as things to consider in each scenario regarding coverage options.

Who qualifies?

Medicare Part D is voluntary for everyone except those enrolled in Medicaid, or Medi-Cal for those in California. Because of that, anyone who is eligible for Medicare can sign up for a Part D coverage during the annual open enrollment period.

When should I enroll?

Enrollment follows the same initial rules as Plans A and B. You can apply three months before the month of your 65th birthday, within your 65th birthday month, and the three months following. Likewise, if you don’t select drug coverage when you first become eligible, and don’t qualify for an exception, you may encounter a late enrollment penalty that stays with you as long as you have Medicare drug coverage.

You don’t have to re-enroll each year, but you will have a chance to review your coverage and change plans if needed. In addition, certain changes in your circumstances throughout the year may prompt the need for aSpecial Enrollment Period (SEP). Rules for what you can change and when you can change it are different for each SEP.

How much does it cost?

The cost for prescription drug coverage isn’t as clear cut as with Parts A and B, since your cost will largely depend on which prescription drugs you take. Other variables include the plan you choose, if you use a pharmacy in your plan’s network, and if your prescriptions are part of the formulary of your chosen plan.

Since coverage for Part D is distributed through independent companies, you have a lot of options to choose from. We can assist you in getting started.

What about Part C?

Original Medicare is enough coverage for some people, but if you feel like you need extra benefits, that’s where Part C comes in. Part C plans are sometimes called Medicare Advantage plans. Medicare Advantage Plans are administered by private insurance providers, but are regulated by the government. They include most Part A and B benefits as well as prescription drug coverage, vision, hearing and dental services. Opting into a Part C plan means that you’ll receive benefits from Medicare Advantage instead of Original Medicare. Costs vary by plan.

For more information on Medicare, Transamerica Center for Health Studies^® has a guide that can help you compare the features of the different parts.

About Transamerica Center for Health Studies^®.
The Transamerica Center for Health Studies^® (TCHS) is a division of the Transamerica Institute^®, a nonprofit, private foundation. TI is funded by contributions from Transamerica Life Insurance Company and its affiliates and may receive funds from unaffiliated third parties. TCHS is dedicated to identifying, researching and analyzing the most relevant health care issues facing consumers and employers nationwide. For more information about TCHS, please visit www.TransamericaCenterforHealthStudies.org.

Medicare 101: What is Part C?

Medicare 101: What is Medicare Part C?

*Repost* Brought to you by: TransAmerica: http://blog.transamerica.com/medicare-101-part-c#.V_QMAuUrJhE

If you’re choosing your Medicare insurance plan, or helping your parents choose theirs, the details can get a little confusing. We already helped lay out Part A and Part B for you, so now it’s time to explain Part C.

Medicare has four parts: A,B,C, and D. Each has a different benefit to offer you, but Part C is a little different than the others. Parts A and B together provide what’s called Original Medicare under the public healthcare system. Part C is different in that it is offered through private companies approved by Medicare.

What does Medicare Part C cover?

Medicare Part C, also called Medicare Advantage plans, are private plans, like Health Maintenance Organization (HMO), Preferred Provider Organization (PPO), Private Fee-for-Service (PFFS), and others. These plans must offer the same benefits as Original Medicare. However, the costs associated with your healthcare services will vary depending which plan you choose.

Some people choose these plans over Original Medicare because they can offer additional benefits and cover more services, though that isn’t guaranteed for every plan.

Who qualifies?

Qualifying for Medicare Part C is fairly simple. People who qualify for Medicare Part C are already enrolled in both Medicare Part A and B. A person must also choose a Medicare Advantage plan that’s in the service area he or she lives in.

When should I enroll?

Like with Medicare Parts A and B, you’ll need to enroll when you first become eligible, and can change plans during the Open Enrollment Period (October 15-December 7). To unenroll, you’ll need to do so between January 1-February 14.

Your Initial Enrollment Period is seven months long, and starts three months before your 65th birthday, includes you birthday month, and the following three months after that. After this time, you’ll have to wait for Open Enrollment to sign up.

How much does it cost?

The cost will vary according to which plan you choose for yourself, but since Part C is still a part of Medicare, you’ll have to keep paying your Part B premium. The out-of-pocket costs will also differ, according to your chosen plan.

If you’re looking to add coverage to what Original Medicare offers you, then Part C may be a good option. However, if you still have some questions, you can find the answers on Medicare.gov.

You can also get more information about Medicare from Transamerica Center for Health Studies^®’ helpfulguide.

About Transamerica Center for Health Studies^®.
The Transamerica Center for Health Studies^® (TCHS) is a division of the Transamerica Institute^®, a nonprofit, private foundation. TI is funded by contributions from Transamerica Life Insurance Company and its affiliates and may receive funds from unaffiliated third parties. TCHS is dedicated to identifying, researching and analyzing the most relevant health care issues facing consumers and employers nationwide. For more information about TCHS, please visit www.TransamericaCenterforHealthStudies.org.

Cancer Statistics & How We Can Help

What Is Cancer?

Cancer is the general name for a group of more than 100 diseases. Although there are many kinds of cancer, all cancers start because abnormal cells grow out of control. Untreated cancers can cause serious illness and death.

Lifetime Risk of Developing or Dying From Cancer:

The lifetime risk of developing or dying from cancer refers to the chance a person has, over the course of his or her lifetime (from birth to death), of being diagnosed with or dying from cancer.

These numbers are average risks for the overall US population. Your risk may be higher or lower than these numbers, depending on your particular risk factors.

Males

	Risk of developing		Risk of dying from
	%	1 in	%	1 in
All invasive sites	43.31	2	22.83	4

Females

	Risk of developing			Risk of dying from
	%	1 in	%		1 in
All invasive sites	37.81	3	19.26		5

Economic Impact of Cancer

The financial costs of cancer are high for both the person with cancer and for society as a whole.

The Agency for Healthcare research and Quality (AHRQ) estimates that the direct medical costs (total of all health care costs) for cancer in the US in 2011 were $88.7 billion.

·         50% of this cost is for hospital outpatient or doctor office visits

·         35% of this cost is for inpatient hospital stays

·         11% of this cost is for prescription drugs

*PLEASE NOTE: These estimates are based on a set of large-scale surveys of individuals and their medical providers called the Medical Expenditure Panel Survey (MEPS). Estimates were accessed directly from the MEPS website, www.meps.ahrq.gov/mepsweb/.

One of the major costs of cancer is cancer treatment. But lack of health insurance and other barriers to health care prevent many Americans from getting optimal health care.

·         According to the US Census Bureau, about 48 million people (15.4%) in the US were uninsured in 2012.

·         About 10% of children in the United States had no health insurance coverage in 2012.

And according to Cancer Facts & Figures 2015, “Uninsured patients and those from ethnic minorities are substantially more likely to be diagnosed with cancer at a later stage, when treatment can be more extensive, more costly, and less successful.”

This year, about 589,430 US residents are expected to die of cancer – that’s more than 1,600 people a day. Cancer is the second most common cause of death in the US, exceeded only by heart disease. Cancer accounts for nearly 1 out of every 4 deaths in the United States.

Cancer costs us billions of dollars. It also costs us the people we love. Reducing barriers to cancer care is critical in the fight to eliminate suffering and death due to cancer.

References

American Cancer Society. Cancer Facts & Figures 2015. Atlanta, Ga. 2015.

Last Medical Review: 04/15/2015
Last Revised: 04/15/2015

How can we help? || SBS Client Testimonies: 

1. "I am 70 years old and on Medicare.  I also have a good Medicare supplement. When I was diagnosed with Cervical cancer 3 years ago. I knew the medical bills would be covered.  However, the treatment, (Chemo therapy and radiation for 8 weeks) was at a cancer center 180 miles from home.  That’s when I found out how valuable my cancer insurance proved to be. The motel bill for two months, the travel expenses, eating out,  even someone to take care of the house while we were gone were all taken care of  with the funds we received from the cancer insurance policy. Our daughter took time off work to be with me and we were able to cover her expenses too.  We had the peace of mind that all the unexpected expenses were covered. It was a stressful time but the cancer insurance sure eased the financial burden."    

- Virginia  (Missouri)

2. "I have carried Medicare Supplement Insurance with SBS for 8 years.  When my agent spoke to my husband and I about the value of a cancer policy, and we saw how inexpensive the coverage was, we decided to move forward with the plans even though we knew our supplements would cover the majority of the medical bills. Less than 3 years after purchasing the policy I was diagnosed with breast cancer.  Within 2 months of filing the claim after my diagnosis, I had a check in my hands from GTL Insurance Company for $5,000.  That money was such a blessing at a time that was both financially and emotionally difficult!"

     - Lula Bell U. (Missouri)

     3. "I purchased my GTL cancer plan in November of 2010.  By September of 2011 I had been diagnosed with internal cancer.  I was so relieved when I received my $5,000 check from my cancer plan, after having the policy for less than a year!  We were under such serious financial strain at the time, with our home recently being condemned because of black mold, we didn't know what we were going to do.  We were able to use that money for the deposit and rent on a new apartment.  I can't thank our agent enough for stressing the importance of carrying cancer insurance."

     -Georgia S. (Missouri)