Help Choosing My Ohio Medicare Supplement Plan

Ohio Tidbits
Every Buckeye over 65 is entitled to Medicare Part A. Medicare Plan F is the most commonly selected Medigap plan available and covers other costs associated with regular health care like outpatient services, doctor visits, labs and x-rays. Almost all Medicare benefit recipients select Medicare Plan F as part of their insurance package. As I have wrote about in the past, that decision is not always the most financially appropriate. I like to refer to a Plan F in Ohio as more of a peace of mind choice.      Medicare Parts A and B are supplied by the government but even with the standard coverage they provide, there are additional medical expenses which may not be covered. This requires many Ohio seniors to buy a Medicare supplemental insurance plan to…
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High-income Ohioans pay higher premiums for Medicare Part D

Ohio Tidbits
 As of Jan. 1, 2011, Ohio Medicare beneficiaries considered high-income earners are paying more money for their Part D Medicare prescription drug coverage. The government is deducting additional premium amounts from the beneficiary’s Social Security benefit payments. The increase will not impact the rates charged by their health insurance company. Individuals with an income of $85,000 or above, or married couples filing jointly with an income of $170,000 or above, must pay an extra premium amount for Part D coverage. This extra premium amount is called the income-related monthly adjustment amount (IRMAA). This amount is based on modified adjusted gross income as reported on the beneficiary’s most recent IRS tax return. CMS recently provided the following tables showing the Part D premium adjustment amount based on income threshold. If the beneficiary is single and filed…
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