Forney, White & Wagner Health Insurance Agency, LLC

What’s the Medicare Part A late enrollment penalty? If you aren’t eligible for premium-free Part A, and you don’t buy it when you’re first eligible, your monthly premium may go up 10%. You’ll have to pay the higher premium for twice the number of years you could have had Part A but didn’t sign up.

If you don’t sign up for Medicare Part B when you’re first eligible, you may have to pay a late enrollment penalty for as long as you have Part B. Your monthly Part B premium may go up 10% for each 12 month-period that you could’ve had Part B, but didn’t sign up. If you’re allowed to sign up for Part B during a Special Enrollment Period, you usually don’t pay a late enrollment penalty.

Do these Medical Savings Account plans cover prescription drugs? No. If you join a Medicare MSA plan and need drug coverage, you’ll have to join a separate Medicare drug plan.

If I have a (PPO Plan) can I get my health care from any doctor, other health care provider, or hospital? Yes. PPO plans have network doctors, specialists, hospitals, and other health care providers you can use, but you can also use out-of-network providers for covered services, usually for a higher cost. You’re always covered for emergency and urgent care.

A Medicare Special Needs Plans provides benefits and services to people with specific diseases, certain health care needs, or limited incomes. SNPs tailor their benefits, provider choices, and list of drugs (formularies) to best meet the specific needs of the groups they serve.