Page 38 - January 2021 Issue.indd

61 days starting at $371 per day for days monthly premiums. Call Mary Moran Specified Low Income Medicare
61-90. Days 91-150 require a whopping at 410-490-3078 for information about Beneficiary (SLMB I) pays part “B”
$742 copay per day. This year Skilled supplemental plan options. SHIP premium only. Beneficiary must
Nursing facility copays run $185.50/day always recommends contacting a well- purchase their own supplemental policy.
for days 21-100. respected, local health insurance broker Recipients automatically qualify for Full
before purchasing a supplemental plan. Extra Help with “D”, paying no more
The 2021 monthly part “B” premium
As has been shown to your SHIP both than $3.70 for generic and $9.20 for
is going up to $148.50 for individuals
professionally and personally, Sups brand name drugs in 2021.
with annual incomes below $87,000,
are your best protection against heft y
and for couples whose annual income To qualify, the gross monthly income
increases in Medicare. When you or
is less than $174,000. For those with cannot exceed $1,296 for individuals
your loved one is in a health crisis the
higher incomes, your “B” premium and $1,744 for couples.
last thing you need to worry about is
will be prorated up according to your
medical bills. None of us know what’s Specified Low Income Medicare
income as stated in the 2021 Medicare
coming down the pike from a health Beneficiary (SLMB II) pays part “B”
and You book, or on www.medicare.
perspective… CYA when you turn 65. premium only. Beneficiary must
gov. Additionally, the annual part “B”
purchase their own supplemental
deductible has gone up another $5 to Medicare Savings Plans are available
policy. Recipients automatically qualify
$203 for 2021 before Medicare pays to assist low-income beneficiaries
for Partial Extra Help which pays the
a dime! For those who do not have with paying for Medicare. These
premium on a sliding scale and reduces
supplemental insurance to cover the programs must be applied for annually.
the cost of the deductible to $89 and
20% Medicare does not pay, be prepared. Beneficiaries who qualify for Medicaid

helps with drug costs that are on plan
Your out of pocket coinsurances will cannot qualify for these programs.
formularies by reducing the cost of
increase. Resources / liquid assets cannot exceed
drugs to 15% of the cost of the drugs on
$7,860 for individuals or $11,800 for a
Reminder... Buying a Supplemental your plan’s formulary.
couple for all three of these programs.
policy during the six months
To qualify, the gross monthly income
surrounding your 65th birthday is Qualified Medicare Benefi ciary (QMB)

cannot exceed $1,456 for individuals
the best way to get those copays and pays “A” & “B” premiums plus all
and $1,960 for couples.
coinsurances covered. During that time deductibles, coinsurances, and copays.
frame insurance carriers cannot ask Automatic qualification for Extra Got a headache yet?! Since February
any medical underwriting questions. Help, the Low Income Subsidy (LIS) is usually when the prescription drug
After that enrollment period has for prescription drug plan, pays part realities hit, we will save addressing Part
expired, beneficiaries must submit to of the “D” premium, the deductible, “D” prescription drug coverages and
medical questions and the companies and helps with drug costs that are on options for February so... Stay tuned...
can increase your premiums based on plan formularies by capping the cost of and stay safe.

your state of health. They can deny an meds to $3.70 for generic and $9.20 for
applicant due to health issues. Even if brand name drugs, for those who have
one is in excellent health the companies a monthly gross income of $1,084 for
will consider your age in calculating individuals or $1,457 for a couple.
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