Medicare part d monthly premium 2019?

If you’re reading this article, chances are you’re either nearing retirement or have already retired. Congratulations! You’ve officially made it to the point in your life where playing shuffleboard and yelling at kids for walking on your lawn is socially acceptable. But with age comes responsibility, and one of those responsibilities is figuring out Medicare Part D. Don’t worry, I’m here to guide you through the process while making you laugh along the way (hopefully).

What is Medicare Part D?

Before we dive into what’s new with Medicare Part D Monthly Premiums for 2019, let’s go over what exactly it is because if there’s anything seniors love more than mashed potatoes and listening to Frank Sinatra on repeat, it’s some good ol’ fashioned context.

In a nutshell, Medicare Part D is a prescription drug coverage program that was implemented by President George W. Bush back in 2006 (wow, remember him?). It covers both brand-name and generic prescription drugs at pharmacies across the United States. Think of it as insurance for all those pills your doctor keeps insisting you take.

The Basics of Medicare Part D

Now that we know what Medicare Part D actually entails let’s get down to business…and by business I mean discussing how much money we’ll have to fork over monthly (yay). Here are some basics:

• Even though Medicare itself doesn’t come with a premium (hooray!), you will have to pay one for Part D
• This premium can change each year
• Your actual cost will depend on things like income level, tax filing status from two years ago (because why make things easy?), state residence etc.
• If you don’t sign up during an initial enrollment period (IEP) or special enrollment period (SEP), then prepare yourself mentally and financially for a late enrollment penalty (LEP) unless you have other creditable drug coverage…and by creditable, we mean insurance that meets or exceeds the minimum standards set forth by Medicare
• Your monthly premium can go up if your income goes up

Isn’t this exciting?!

What’s New with Medicare Part D Monthly Premiums 2019?

Now it’s time to address what you’re really here for: Medicare Part D Monthly Premiums 2019. I know, I know…you’ve been waiting on the edge of your seat for this information.

For starters, average premiums will drop slightly in 2019 compared to previous years (finally, some good news). According to CMS (Centers for Medicare & Medicaid Services), “the basic premium for many people is expected to measure around $33.19 per month next year.” Now before you bust out the party hats and start singing “Auld Lang Syne,” there are a few things you should be aware of:

• Depending on where you live and what plan you choose, your actual monthly premium could be higher or lower than this estimate (ugh, why can’t anything ever just be simple?)
• If your annual income is above a certain threshold ($85k single/$170k married filing jointly), then congratulations! You get to pay an extra fee called IRMAA (Income Related Monthly Adjustment Amount)…because why let wealthy seniors off easy?
• Other changes in Medicare Part D include new laws that allow pharmacists more flexibility when substituting generic drugs among others

So What Should You Do?

Before you call your grandkids over and try asking them how this all works only to end up hearing about their Snapchats or Fortnite updates instead (SMH), here are a few things to consider:

1. Check out Plan Finder tool on medicare.gov – This lets compare plans based on factors like premium costs, deductibles, copayments and coinsurance along with the drugs covered…because nothing says fun like comparing numbers.
2. Consider Automatic Enrollment – Some Part D plans offer automatic enrollment which can save you a headache if you’re easily confused by too many options
3. Talk to your Doctor – They’ll know which drugs are crucial versus ones that may be cheaper alternatives…and who knows, maybe they’ll even refer you to a reputable rap scallion like me for Medicare advice (wink wink).
4. Call 1-800-MEDICARE – If all else fails (let’s face it, it probably will), give them a call.

Conclusion

So there we have it folks: everything you need to know about Medicare Part D Monthly Premiums 2019 in one convenient article written by yours truly only using Markdown format because I’m just that cool! You don’t have to thank me or write any fan mail; my boss already gives me enough praise as is. Just remember these key takeaways:

• Medicare Part D is prescription drug coverage program established in 2006 during President Bush’s reign
• You will probably have to pay monthly premiums (shocker!)
• Actual cost depends on income level, tax filing status from two years ago and state residence etc.
  -The average premiums for next year should drop slightly
• Keep an eye out for IRMAA if your annual income is above certain threshold
  -Finally In case of confusion dial-up medicare!!!

If after all this information still doesn’t make sense, then heed my sage advice: stick with shuffleboard and leave the rest up professionals (us, not those doctors playing God).

Dane Raynor

Hey there, I’m Dane Raynor, and I’m all about sharing fascinating knowledge, news, and hot topics. I’m passionate about learning and have a knack for simplifying complex ideas. Let’s explore together!