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Medicare Part D

Do Your Clients Pay a Surcharge for Part B?

If your clients are deemed to be high earners (based on their tax returns from 2 years ago –modified adjusted gross income), the IRMAA surcharge will automatically be taken out of their Social Security check each month. They will see this listed separately on their SS statment.

Income Related Monthly Adjustment Amount = IRMAA
 
They will also pay a surcharge for Part D!

This is a sample letter they will receive from Social Security explaining their IRMAA >>

Did you know?

  • Only 1-5% of Medicare beneficiaries reach the catastrophic Benefit Period each year?

  • The average plan premium in 2017 is $34.

  • The maximum plan deductible allowed by CMS in 2017 is $400.

  • Envision Rx  

  • Humana  PDP  

  • Silverscript Rx

  • United Healthcare (AARP Branded)

  • Liberty Benefits -for non formulary drugs

FYI: If you do all your Rx searches on Medicare.gov be aware that they are not always up to date.

Generic drugs can save your client a lot of money, but not all generics perform as well as brand name drugs.

I always recommend that my clients try generics, but accept that they may have to take brand names to keep their condition under control.

For example, Nexium has much better results than Prilosec. Coumadin has much better results than Warfrin. We all want to help our clients save money, but don’t assume generic is better. Sometimes it isn’t.