Thread: Investments

Yeh....I was talking about the health care.....sorry I confused you or sorry I got confused lol

Here is some information on Part D drug insurance. I don't understand all this real good myself. But looks like the insurance companies have the upper hand. You pay now or pay more later.

The Part D Late Enrollment Penalty What’s the Part D late enrollment penalty?The late enrollment penalty is an amount that’s added to a person’s monthly Part D premium. A person enrolled in a Medicare drug plan may owe a late enrollment penalty if he or she goes without Part D or creditable prescription drug coverage for any continuous period of 63 days or more after the end of his or her Initial Enrollment Period for Part D coverage.The late enrollment penalty (also called the “LEP” or “penalty”) is added to the person’s monthly Part D premium for as long as he or she has Medicare prescription drug coverage. The late enrollment penalty amount changes each year. The person will have to pay it each month as long as he or she has Medicare prescription drug coverage, even if the person changes his or her Medicare drug plan. The cost of the late enrollment penalty depends on how long the person went without Part D or creditable prescription drug coverage.

Here is where information was:

https://www.cms.gov/Outreach-and-Edu...ds/11222-P.pdf

Originally Posted by scrat

Here is some information on Part D drug insurance. I don't understand all this real good myself. But looks like the insurance companies have the upper hand. You pay now or pay more later.

The Part D Late Enrollment PenaltyWhat’s the Part D late enrollment penalty?The late enrollment penalty is an amount that’s added to a person’s monthlyPart D premium. A person enrolled in a Medicare drug plan may owe a lateenrollment penalty if he or she goes without Part D or creditable prescriptiondrug coverage for any continuous period of 63 days or more after the end of hisor her Initial Enrollment Period for Part D coverage.The late enrollment penalty (also called the “LEP” or “penalty”) is added tothe person’s monthly Part D premium for as long as he or she has Medicareprescription drug coverage. The late enrollment penalty amount changeseach year. The person will have to pay it each month as long as he or she hasMedicare prescription drug coverage, even if the person changes his or herMedicare drug plan. The cost of the late enrollment penalty depends on howlong the person went without Part D or creditable prescription drug coverage.

Yep! G got me to looking. Here's the link https://www.medicare.gov/part-d/cost...t-penalty.html If I do enroll in a drug plan there will be a penalty applied in each monthly premium and in my case it will be significant. Hope I don't need it. Blackmail for the ins companies. Trust me, I started with a humana drug plan and kept it for a couple of years. I dropped it and my prescriptions don't cost any more than when I had insurance.

I have my drug plan thru SilverScript....meds are way cheaper than they were before.....got my medicare supplement with United Health Care thru the AARP plan....it was the cheapest I could find.

Originally Posted by "G"

I have my drug plan thru SilverScript....meds are way cheaper than they were before.....got my medicare supplement with United Health Care thru the AARP plan....it was the cheapest I could find.

I'll check them out. From what I'm reading the penalty grows each month I'm not enrolled.

A lot of people don't really know all of this. They are not told clearly about insurance and will probably never be told everything. The insurance companies have the upper hand. They can come up with all sorts of reasons to go up on policies and they can use different tactics to keep from paying such as " it was over the usual and custom costs". And you would have to be a top lawyer to read and understand all the writing in the insurance policies mean. The Hospitals are no help at all either they will not tell you how much the bill will be until you get the bill later. And don't let a Doctor put you in hospital for observation, Medicare won't pay for it. You need to be put in for a certain procedure. It would be nice if we had a big menu up front like McDonalds with price menu. A Knee replacement will cost $75,000.00 and a ------- will cost you $xxxx.00 you know at least we would know if we could afford to live or not. DD; I am sorry if I kidnapped your post.

i get my stuff from the VA