Good news for Medicare in Maricopa County!

Good news for folks in Maricopa County on Medicare Advantage Plans and Part D Prescription Drug Plans. If you are on one of these programs, check your mail for the “Annual Notice of Change” (ANOC) that mails out on the last day of September. You can’t miss it, it is the size of a phone book. It contains the benefits from 2016 and the changes in 2017. It is a line-by-line comparison of each benefit covered by the plan.

Next year’s Medicare Advantage Plans look very similar to this year in terms of benefits and co-pays. We don’t have any carriers leaving the market as in years past. One carrier is still under a sanction, but folks on the plan can keep it if they are happy. The networks appear to be very similar and the formularies are looking good as well. I’m excited for our clients because they will be able to stay put! Every once in a while we all catch a break, this may just be our year for folks covered by Medicare Advantage Plans.

Next year’s Part D Prescription Drug Plans are pretty nice as well. Most plans are very similar in construction. According to Medicare, the cost of plans, on average, are only moving up $1.44. Only one major plan is getting crazy expensive. A new plan is coming to market, associated with Walgreens as its preferred pharmacy. As always, we strongly recommend researching all plans available in your zip code and not relying on your perceived value of any brand or company. The initial coverage for all plans has increased from $3310 (2016) to $3700 (2017), so a bit more coverage on all plans. For plans that have a deductible, the maximum deductible has moved up from $360 (2016) to $400 (2017). Many plans still have no deductible for tier one generics and some even have coverage in the coverage gap (donut hole). Medicare Part B premiums are required to be announced no later than October 31st each year. It has been our experience that in a presidential election year, the announcement is delayed until after the election. The government accounting office last year, stated most folks would pay the same rate in 2017, but time will tell! Whether you have an “All-in-One plan” called Medicare Advantage or Medicare with a Medicare Supplement and a Part D Prescription Drug Plan, each year we strongly encourage folks to do their research using www.Medicare.gov. If you are a current client, we can do it for you. Begin the process by visiting www.123EasyAEP.com.