May and June are two months we get calls on the coverage gap or “donut hole.” This happens because there is a temporary limit on what your drug plan will pay while you are in the gap. The good news is not everyone will enter the coverage gap. The coverage gap begins after you and your plan have spent a certain amount on covered drugs. In 2018 once you and your plan combined have spent $3,740 you will enter the coverage gap. Here’s the way the coverage gap works. Imagine you have a prescription that retails for $300 per month. Your copay, hypothetically, is $30. This means your plan would pay the rest of the cost or $270. Medicare will track what you paid ($30) and what your plan paid ($270)
What a pleasure it was to meet everyone at last week’s ALSHRM conference in Birmingham! We hope you stopped by our Medicare booth. Alabama Health Guidance knows HR Professionals work incredibly hard to contribute to the success of their companies. Our desire is to elevate that success, and eliminate any stress, by preparing HR Professionals and their employees to make confident Medicare decisions. Medicare is often complex and confusing – but our team of experts will make it easy. We can answer the difficult questions and assist your employees in understanding ALL of their options to find what best suits their needs. We are overjoyed with the tremendous response shown by conference attendees
William Simmons, our Alabama Health Guidance associate in Huntsville with Medicare Strategies USA, is a licensed insurance agent and CPA with over 20 years experience in the financial industry. William’s philosophy notes his desire to “prepare you to make confident Medicare insurance decisions.” Plan benefits change, but William and our other agents are always available to assist with your current Medicare questions. If you are in the Huntsville or Madison County area, give William a call at (256) 425-8614, or visit his website at www.MedicareStrategiesUSA.com.
