F6
FARM & RANCH
THE NORTH PLATTE TELEGRAPH
NOVEMBER 2021
OPEN ENROLLMENT… A DOUBLE HEADER
company and drug company revises their contracts annually so it’s a good thing to review to see if your medications are going to be covered next year and the new rates. For 2022, the Drug deductible will be $480. For those of you that hit the donut hole, you’ll be glad to know that the cap is narrowing every year. Once through the donut hole, Medicare picks up 95% of the cost of the medication. The big news is the addition of a couple of Medicare Advantage plans available in our area. Those bundle Medicare Part A, B, Medicare supplement, and the drug plans together along with some dental, vision and hearing benefits. These plans do have some copays, but the premiums are reduced. If you are interested in looking at these plans, call the office or stop by to pick up a medication form and list your current Medicare supplement premium so we can do an accurate comparison for you. For those of you 64 and under needing an individual plan, your health insurance Open Enrollment Period goes from Nov. 1st to Jan. 15th… . The enrollment period has been extended this year, but if you want want the effective date to be the 1st of
January, you’ll need to enroll by the 15th of Dec. Good news – in addition to Medica & Bright Health, that most of you are familiar with, we will have two new carriers coming to Nebraska called Oscar and Ambetter. All will offer Affordable Care Act (ACA) compliant plans for the state of Nebraska. Both new carriers have been providing services in surrounding states for several years. The average rate increase in Nebraska was moderate (between 1.3%-10% depending on the plan) for next year. We can enroll directly with the carriers or through the Marketplace if you are eligible for a subsidy. They have several options each with different deductibles and co-pays for next year. Some new plans even include dental for adults. Those of you receiving a Marketplace subsidy received a letter from your carrier showing the new rate but it doesn’t show the new subsidy, so the premium looks higher than last year. Don’t panic, unless your income changed, you’ll probably be paying about the same as you did last year. If you think you are eligible for a subsidy for next year, be sure to bring in last
year’s tax return and/or a check stub with a YTD so we can calculate your income for next year. Those of you that were previously not eligible for a subsidy due to your income being above the range may be eligible for 2022. Rather than a cap, if the cost of insurance is more than 8.5% of your income, you are eligible for a subsidy, which will reduce your premium. Again, you can purchase a “short term” plan that will last up to 364 days or up to 3 years. Again, these short- term plans won’t cover pre-existing conditions, and have a benefit cap unlike the ACA compliant plans but these work for some people and are substantially less expensive. Open Enrollment is a busy time for insurance agents with the Medicare and Health Insurance Open Enrollment Periods over-lapping. Plan ahead and don’t procrastinate. Call your friendly insurance agent, shop your options, and get your new plans and pricing set up. If you have questions or want to schedule an appointment with Rebecca Nordquist at Phares Financial, 319 East B Street in North Platte. Call 308- 532-3180 to schedule a time.
By Rebecca Nordquist, RD, MHA, CLTC
Are you confused with all the advertising reminding you that it’s Open Enrollment Time? Whether the ad is from AARP, Humana, or any other insurance company, you are being bombarded by the “sign up now” advertising. Let’s clarify, there are 2 open enrollment periods opening soon. The first one is the Enrollment Period for those on Medicare who need to review their Medicare Part D Drug Plan. It runs from October 15th to December 7, 2021 for a January 1st effective date. Medicare recipients should bring in their updated medication lists so that an agent can provide them with updated recommendations on plans for 2022. Just because their medication is covered by their current plan for this year, doesn’t mean it’s covered for 2022. Every insurance
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