We felt this was a great article worth sharing. Q&A from Consumer Reports by Nancy Metcalf Question: My husband and I are 57 years old and live in Arizona. We are early retirees, too young for Medicare, but with pre-existing conditions that make it impossible to be covered by any plan except a guaranteed issue plan with extremely high premiums and poor coverage. Last year, about half of our modest income went to cover health care! Will we be able to drop our current private insurance and sign up for coverage under the new high-risk pool for people with pre-existing conditions? The last thing we want to do is go without insurance for six months and risk everything we’ve tried so hard to avoid. But from everything I’ve read, it seems that is what we’ll have to do. We are the people … Continue reading
It is no doubt that over the last week or two, you’ve read articles, watched t.v., or listened to the radio where Healthcare Reform was the main topic. No matter what side of the fence your on, the bill has passed, and so it is important to understand how it will affect you over the coming years. This week, we’ll take a look at how Medicare Part D or Medicare Prescription Drug Coverage will be affected. Here is the breakdown: In 2010, Medicare Part D participants who reach the coverage gap (otherwise known as the doughnut hole) will receive a $250 rebate In 2011, Medicare Part D individuals who reach the coverage gap will receive a 50% discount on brand name drugs, but not until they reach the coverage gap. Brand name drugs will be subsidized slightly more each year … Continue reading
