Page 40 - February 2022 Issue.indd

based on the governments sympathetic drug coverage. (Please note that those
understanding of the actual jumps in under 65 who are collecting Social
the cost of living! It is based on Social Security are already enrolled in “A” since
Spot guard against a reduction in SS benefi ts Security.)
by law one must have “A” to collect Social
Senior Security’s Hold Harmless Provision to
as a result of Medicare Part B premium
increases. In other words, your Social During IEP, one should also purchase
Medicare Supplemental insurance
Security payments cannot go down from
Senior Moments one year to the next because “they” raise (also called Medi-gap) to cover the
by Mary Moran the part “B” premium. Therefore, the 20% coinsurances and fixed copays
410-829-2535 / 410-490-3078 2022 COLA raise is being issued to cover not covered by “B” and “A”. These
plans guarantee that you are insured
the “B” monthly increase to $170.50. Th e
Miss me in January? It was the fi rst time 2022 cost of “B” is $21.60 higher than the nationwide for any medical need covered
in seven years that Senior Moments did 2021 base premium of $148.50. by Medicare. Medi-Gap insurance
not publish and, since excuses are like coverage is standardized by the federal
Please note that some people will see government to perform as supplemental/
bellybuttons and everyone has one, I will
little or no increase in their part “B” secondary insurance to Original
not bore you with mine! However, I do
premium. This is because the 5.9% Medicare. These plans are designated

offer my sincere apologies for not getting
increase does not increase their social with alphabetical names (A, G, N etc.)
the information about 2022 cost changes
security check enough to cover such a which may cause some confusion with
in Medicare, as well as my Medicare 101
large jump in the “B” premium. Th ese the other parts of Medicare! Just know
guideline, to you last month.
are the people protected by the Hold that this is optional coverage sold by
So, without further ado, I’ll just remind Harmless provision. Exceptions to private companies to offset the 20%
you that this is the one where I say don’t the Hold Harmless provision include and coinsurances required by Original
shoot the messenger, folks! Grab a cuppa those aff ected by IRMMA, (whose “B” Medicare but is crucial coverage.
something hot, or strong, or both and premium is based on income reported

get comfortable! The cost of Medicare two years prior), low-income people Government approved plans offer
for 2022 has, to say the least, jumped who qualify to have the state pay the similar but different coverage for
dramatically. I will try to refrain from “B” premium, and those whose part “B” different premiums. By law, a G plan
making snarky comments and just give enrollment is eff ective 2022. always functions as a G is designed to

you the facts, but no guarantees, folks! function and offers the same coverage
Reminder to those turning 65: Th e once regardless of who is selling it or what
The large increase in beneficiary’s in a lifetime Initial Enrollment Period state it is sold in. The only allowed
out-of-pocket cost is supposed to be (IEP) for “A” &” B” & “D” includes three difference Is what the insurer can charge

offset by the 30-year record breaking months before, the month of, and the beneficiaries for their monthly premium,

5.9% Cost of Living Adjustment (COLA) three months following your 65th. Th is and that diff erence can be pretty wide.
to Social Security Benefits. (2021 COLA is the time to manually enroll in “A” Remember, these are attained age

was 1.3%) Anyone who reads this Hospital coverage, “B” for outpatient policies, which means the premiums
column knows that the COLA is not medical coverage, and “D” prescription will go up every year. Be sure to deal only
with reputable, licensed brokers who
TURNING 65? specialize in Medicare and can show you
your most affordable options! Medi-Gap

Coverage should begin the fi rst month
Confused about all the Medicare Terms & Options? “B” goes into eff ect.
Let Me Help You!
This 7-month IEP is the only time
frame where you will not have to
answer any medical questions (medical
Anthony Insurance Services underwriting) when purchasing Medi-

Ann M. Anthony Gap supplemental insurance. Th e IEP
guarantees that insurance carriers cannot
deny you coverage due to pre-existing
health conditions. Once this 7-month
Specializing in Medicare Supplemental Plans,
period closes, your medical history
Medicare Advantage Plans, Medicare Part-D Plans, and health circumstances allow these
Dental and Vision, Long Term Care, and Life Insurance private insurers to deny you coverage, or
Call Ann Today for an Appointment 410-708-0899 • anthonyins17@gmail.com increase the premiums, so do not delay
22850 Fleming Road, Denton, MD 21629 getting this in place to start the same day
your Medicare Coverage starts.
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