Howell Medicare Advisors, LLC

08/02/2024

Starting January 1, 2025, people on Medicare will have the option to have their out-of-pocket prescription costs spread across the calendar year. As a result, the individual would not be paying for their prescriptions at the pharmacy when filling a prescription but would be sent a monthly bill for the costs of their medications. This would be in addition to their monthly premiums for the plan. This new option does not save any money but spreads out the costs of the prescriptions. Called the 'Medicare Prescription Payment Plan', the program can benefit those people on Medicare who have enrolled in a plan with a high deductible for prescriptions, where most of the costs must be paid up front. Or if the person has incurred more that $2,000.00 in out-of-pocket costs in 2024.

Last week, CMS released additional guidance regarding Medicare Prescription Payment Plan (MPPP) outreach and education. The MPPP, sometimes referred to as “smoothing,” was established in the Inflation Reduction Act (IRA) and allows Medicare beneficiaries with Part D to opt into an alternative pa...

02/02/2024

A recent article noted that Novo Nordisk will no longer manufacture the Levemir insulin product. Many Medicare beneficiaries just completed the arduous task of reviewing their Part D prescription plans for 2024. They may have chosen Part D plans based on the fact that it covered their Levemir. They are locked into these plans until 2025 and can't make any changes. The article lists some alternatives for the Levemir, but not all Part D plans cover these alternatives. This means the person will be on the hook for the retail cost of the medication if not covered by their current plan. Hopefully the Part D plans will grant exceptions for people who fall into this situation. If you, or a loved one, is currently using Levemir, please speak with the prescribing provider about alternatives that are covered under their current Part D prescription drug plans.

Diabetes patients say they will be harmed by Novo Nordisk's decision to phase out the long-acting insulin Levemir.

01/06/2024

We are now in the “Medicare Advantage Open Enrollment Period” until March 31st. People enrolled in a Medicare Advantage plan can make a change or drop their Medicare Advantage plan. But here’s the ‘gotcha’, you may not be able to get coverage from a Medicare Supplement plan if you want that option! This is not explained to people when they first become eligible for Medicare. They are swayed by the lower monthly premiums for Medicare Advantage plans and are steered by the insurance companies towards these plans. But they don’t tell people that the decision can have a lifetime consequence. Buyer beware and be aware.

As enrollment in private Medicare Advantage plans grows, so do concerns about how well the insurance works, including from those who say they have become trapped in the private plans as their health declines.

06/13/2023

Help with Medicare Drug Costs

If your income for 2023 is below $22,000 ($30,000 for married couples), you may qualify for lower prescription drug costs. Many people qualify for “Extra Help” with Medicare Part D (drug coverage) and don’t even know it. It could pay to find out: www.medicare.gov/ExtraHelp with “Extra Help,” you can cut your Medicare Part D (drug coverage) premium to $0 and greatly reduce your prescription drug copayments? See if you’re eligible: www.medicare.gov/ExtraHelp Thanks to a new prescription drug law, many people will qualify for additional savings on their Medicare drug coverage (Part D) costs in 2024. Don’t wait – see if you qualify for “Extra Help” today at www.medicare.gov/ExtraHelp If you make less than $22,000 per year ($30,000 for married couples), you may qualify for “Extra Help.” It could cut your Medicare Part D drug costs to no more than $4.15 for generic prescriptions and $10.35 for brand-name drug prescriptions. Apply online through Social Security at www.SSA.gov/ExtraHelp

10/15/2022

I’m thankful to Margolis Bloom & D'Agostino, LLP for the opportunity to help people understand their Medicare choices and avoid costly mistakes. Please join us! Click below to register.

Join Lori Howell, Owner of Howell Medicare Advisors, LLC, as she discusses how individuals can best navigate the maze of Medicare rules and options.

10/06/2022

The 2023 Medicare Part B Premium will be $164.90. This is a monthly DECREASE of $5.20. The Part B deductible has also decreased to $226 ($233 in 2022). The Part B Premium decrease will also impact those assessed IRMAA by reducing the surcharges. Also of note, for those being assessed IRMAA, the threshold has increased to $97,000 (Individual) and $194,000 (Couple). This increase may result in fewer people being assessed IRMAA.

04/13/2022

If you are on Medicare and have Type 2 Diabetes, you may qualify for this newly opened financial assistance program that can help with the costs of your Diabetes medications. If your annual income is at or below $54,360 (single) or $73,240 (couple), you should look into this program.

Patient Access Network Foundation is helping underinsured patients get the medication they need.

07/16/2021

“You were right.”

That is what a client apologetically admitted. He came to me begrudgingly and told me that he knew what was the best plan for his Medicare prescription coverage. He had spoken with a friend who had a great plan that wasn't expensive and he wanted that plan. I explained that although that plan may be the best fit for his friend, it may not be the best for him. He was adamant that he wanted that plan and it was the right one for him. I asked him to let me take a look at the available plans, using his list of prescriptions, to see what the costs would be on that plan. Here are the results:

04/10/2021

Erroneously, many people think that Medicare covers Long Term Care. Medicare will not cover the costs for a nursing home or assisted-living facility. There is some Home Health coverage if you are considered “home bound” and receiving skilled nursing or skilled therapy. Oftentimes, it is family that is providing Long Term Care and covering the costs.

Long-term care options are expensive and often out of reach for elders and people with disabilities. Part of the president's proposed infrastructure plan would help fund home-based health services.

02/22/2021

$1,150 Tax Credit - If you are 65 or older, a Massachusetts resident and own or rent your principal residence, you may be eligible for a tax credit of up to $1,150. This tax credit is called the "Senior Circuit Breaker Tax Credit". Don't be confused - it has nothing to do with circuit breakers! Check to see if you may qualify and take advantage of this tax credit.
https://www.mass.gov/service-details/senior-circuit-breaker-tax-credit

$1,150 Tax Credit - If you are 65 or older, a Massachusetts resident and own or rent your principal residence, you may be eligible for a tax credit of ...

02/17/2021

If you know someone on Medicare that is struggling with the costs of prescriptions, there are programs available that can help. Nationally, the “Extra Help” program can help qualified individuals. Many states also offer help through “State Pharmacy Assistance Programs”. Massachusetts residents can receive assistance through the “Prescription Advantage” program.

Our friends at the PAN Foundation want you to know about the federal Extra Help program for people with Medicare Part D. If eligible for Extra Help, you...