2020 Medicare Parts A & B Premiums and Deductibles
On November 8, 2019, the Centers for Medicare & Medicaid Services (CMS) released the 2020 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs.
​​
Medicare Part B Premiums/Deductibles
Medicare Part B covers physician services, outpatient hospital services, certain home health services, durable medical equipment, and certain other medical and health services not covered by Medicare Part A. 

Each year the Medicare premiums, deductibles, and copayment rates are adjusted according to the Social Security Act. For 2020, the Medicare Part B monthly premiums and the annual deductible are higher than the 2019 amounts. The standard monthly premium for Medicare Part B enrollees will be $144.60 for 2020, an increase of $9.10 from $135.50 in 2019. The annual deductible for all Medicare Part B beneficiaries is $198 in 2020, an increase of $13 from the annual deductible of $185 in 2019.

​Trout Insurance sponsored a fundraiser for Manna Foods on Saturday, October 26. Dave baked brownies and brewed hot apple cider. We matched donations of both food and dollars. We are happy to announce that we delivered 8 boxes of canned goods and $300 to Manna to help keep our community well fed. Many thanks to all who contributed!

​Many of our insurance partners offer discounted or free memberships for folks on Medicare to attend local fitness facilities. These include the YMCA, YWCA, Gold’s Gym, Workout Anytime and many others. We work with Physio physical therapy on Merrimon Avenue, who offer a variety of classes and therapies, plus Haywood Regional Fitness, who features a great facility and super pool!

​As we come into Open Enrollment for individual health insurance, Blue Cross is offering expanded benefits on their Gold and Silver plans–the first three visits to primary care doctors are covered at 100% with no Copay.

We are seeing premiums decrease and are very affordable on their Bronze plans. In many cases, the Marketplace subsidy is greater than the premium, so your monthly responsibility is zero.

​Healthcare.gov uses your “Modified Adjusted Gross Income" to calculate your premium subsidy. With tax reform passed by Congress in 2017, the 1040 return changed. Your Adjusted Gross income is found on line 7. If you or a family member on your return receives Social Security, the full value – line 5a must be added as well. And be sure to check with your tax or financial specialist.

For folks who do not qualify for premium subsidies, health insurance is expensive. One option may be a non–ACA plan. While these plans do not offer the same benefits, they may be the right fit for you. New is “Tri-Term" from United Health Care. Once underwritten, this coverage will renew without further health questions for a day short of 3 years. 

​Ben and Julie trick-or-treating in Weaverville, including our office on Main St.– where they know Dave is going to have some treats! 

For many, the term insurance is thrown around very often but not many people understand what exactly it is. The origins of insurance date back all the way to the Code of Hammurabi, a collection of Babylonian laws of 1700 BC, which provided the first credit insurance. But modern-day insurance dates back to 1666 with the Great fire of London which destroyed 13200 homes, which formed the birth of Nicolas Barbon’s office to insure buildings.  
Insurance is providing protection against financial loss in a number of situations. These situations include loss against one's property, life or health.  
Life insurance policies provide a certain amount of money when the insured person dies. Health Insurance pays all or covers most of one's medical care, whether it is hospitalization, surgery or a doctor's visit. Property Insurance is bought to protect individuals against financial loss on assets and has two major forms which are Home and Auto insurance.  
For more about any type of insurance, go to https://www.troutinsurance.com/ and get in touch with a Trout Insurance Agent today.  

​

Hopefully by the time you reach your 60s you will have found some form of a significant other whether it is a wife, divorced or a widow. Having this significant other when it comes to Medicare can be an asset in some situations. Just like any other person, the first and most important thing to determine whether or not your spouse's Medicare can cover you is whether or not you are eligible. To be eligible you must be 65 or over or have ESRD. If these do not apply, then you need to take a further step to be eligible for Part A insurance.  The scenarios are that you must have been married for at least a year, divorced and previously married for 10 years while being single now. And a widow for at least 9 months; all with the regulation that your spouse is now eligible for healthcare.   
To find out more about whether you can get Medicare through your spouse, contact a Troutt Insurance agent  

​

Are you in anyway unhappy with the Medicare part A&B that you have? Well Medicare Part C may be the perfect option for you, which is known as Medicare advantage. What a Medicare advantage does is that it helps cover medical costs, doctors' visits and other medical services plus prescription drug coverage if wanted. When you want to sign up for Medicare Part C it is important to understand the 5 different plans that are available: 

• Health Maintenance Organization (HMO) plans- These plans provide coverage for doctors and hospital that are within your plans network, only in the case of emergencies can you be covered outside of the network.  
  
• Preferred Provider Organization (PPO) Plans-These provide more flexibility than HMO plans, some coverage will be provided for out of network doctors.  
  
• Medicare Advantage Special Needs Plans- These plans are designed for people who need a large amount of medical care, can even include nurse practitioners and care managers. These plans combine hospital care, outpatient care and coverage for doctor’s office visits in a single plan 
  
• Private Fee-For-Service (PFFS) Plans- In these plans you are allowed to see any medical care provider who accept your terms and conditions for payment. Some of these plans do not include prescription drug coverage ( Medicare part D)  
  
• Medical Savings Account (MSA) Plans- These plans combine Medicare part A&B and are funded with a savings account. 
  

For more information about Medicare Part C, speak to a Trout Insurance Agent today

​

A Medicare card is very important and should always be kept safe, but sometimes life just does not work like that. It can get lost or damaged and the question then is, what to do now? We have some good news for you. Replacing your Medicare in 2019 is not very difficult, in addition to this, the old Medicare cards are being replaced with new ones that will not include your social security number.  
Before you can even lose the card, try by all means to keep a copy of the original one in the event that it does go missing. Getting the card replaced online is the best option, all you need to do is to go to the Social Security Website and create a “My Social Security” account. Once you have logged I, visit the documents tab.  You will find an option that asks them to mail you a replacement card where the sight will ask you for your credentials. 
The card may take about 30 days to replace, for any more information about this process call a Trout Insurance Agent today.  

​

Haywood Regional announced the launch of a toll-free helpline designed to help Medicare beneficiaries select a health plan that fits their needs and budget while also keeping in-network access to the doctors and hospital services they trust.
The new toll-free helpline, run by MedicareCompareUSA, connects callers with local licensed agents who can assist in comparing Medicare Advantage, Supplement and Prescription plans and then facilitate enrollment in the plan selected.
Through this program, it will be easier for Medicare beneficiaries to find a plan that is in-network with Haywood Regional and its affiliated doctors. Patients can access the helpline through a link on the hospital’s website MyHaywoodRegional.com/Medicare or by calling 855-582-5181.


“Seniors are bombarded with confusing messages from competing health plans and options, and this is especially true for those just turning 65 and becoming eligible for Medicare for the first time,” said Rod Harkleroad, CEO, Haywood Regional. “This helpline is a one-stop resource for insurance information, so seniors can be confident in the selections they make.”
In addition to providing assistance throughout the plan application and enrollment process, agents of MedicareCompareUSA can provide an annual review of an enrollee’s Medicare coverage during Medicare’s annual enrollment period.
Doing so assures that beneficiaries have the information they need to proactively select a plan that best meets their specific needs, preferences and budget while retaining continuity of care with their providers.
Harkleroad points out that Haywood Regional is not in-network with all insurance options or health plans, and contractual relationships may change on an annual basis.
If a patient enrolls with a health plan with which Haywood Regional does not have a contract, they may experience increased out-of-pocket expenses for receiving care from the doctors they know and trust.
Haywood Regional Medical Center, a Duke LifePoint Hospital, is located in Haywood County and offers a comprehensive array of services, including orthopedics, spine services, cardiology, general surgery, women's care, emergency medicine, behavioral health and includes 12 multi-specialty physician clinics.

If you’re approaching the age of 65, in addition to considering life without an alarm clock, you need to consider your health insurance options very carefully.  A form of Medicare most likely will be your main health insurance.
Because there are so many options, it can be complicated.  I’ll break the basics down and share some resources to help you make the right decision.
Don’t wait to think about your options!  When you turn 64, here is a great month by month checklist  of things to consider.






THE BASICS 

• Medicare is a federal insurance program. To qualify you must be 65+, under 65 with a disability or have an end-stage renal disease.
• According to Medicare.gov, if you don’t enroll when first eligible you may pay a penalty and have a gap in coverage. An exception to this is if you have other credible coverage like a health insurance plan from your employer.
• You can keep Original Medicare only (the Federal program) and in addition, you may purchase a Medicare Supplement plan to help with the copays and deductibles that Original Medicare does not cover.
• You can replace Original Medicare with a Medicare Advantage plan (from a private insurer who has a Medicare contract to administer benefits). Many do this because of the additional options they offer.
• This year’s open enrollment to purchase a Medicare Advantage or Part D plan (prescription drug coverage) is Oct. 15 – Dec. 7.

THE OPTIONS
MEDICARE PART A AND B PLANS (ORIGINAL MEDICARE)This is what we call original Medicare which the government administers.  The premium is deducted from your monthly social security check.

• Medicare Part A covers inpatient hospital stays, skilled nursing facilities, hospice care, and some home health care.
• Medicare Part B covers certain doctor services, outpatient care, medical supplies, and preventive services

You will not have copays but will be required to pay coinsurance. Medicare will pay 80 percent of the medical expenses approved by Medicare while you will be responsible for the remaining 20 percent.
Original Medicare does not cover most prescription drugs or other services private insurers may offer.
MEDICARE SUPPLEMENT (MEDIGAP)A Medicare Supplement (Medigap) policy is an additional option when purchasing Original Medicare. It’s sold by private insurers and helps pay some or all the health care costs that Medicare doesn’t cover, like copayments. coinsurance. deductibles. 



MEDICARE ADVANTAGE PART C PLANSThis type of plan is administered by a private health insurer. These plans, in addition to offering everything Original Medicare provides, offer additional features and benefits that you may not get with a Medicare Supplement plan.Most of these plans include prescription drug coverage and have in-network doctors. You would pay your premium directly to a private insurer and maintain lower out of pocket costs if seeing network doctors.
When selecting a Medicare Advantage Plan you would still be required to pay your Medicare Part B premium, normally deducted from your social security check.
MEDICARE PART D (PRESCRIPTION DRUG COVERAGE)This type of plan is administered by a private health insurer. Medicare Part D is a standalone prescription plan that helps cover your prescription needs and is typically paired with a Medicare Supplement plan. Many Medicare Advantage plans have Part D drug coverage, but there are some that offer medical benefits only.  You are not allowed to have both a Medicare Advantage plan and a stand-alone Part D drug plan.