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Displaying 1 - 10 (of 374) < Prev Page     Page 1 of 38     Next Page >
2023 ACA Individual Health Insurance Open Enrollment Period Starts Today!
Posted on Tuesday, November 1, 2022 at 2:08 PM
2023 Health Insurance Erie PA

2023 ACA Individual Health Insurance Open Enrollment Period Starts Today!

Well it is that time of year again! The annual “open enrollment period” for the Affordable Care Act Plans starts TODAY! The “open enrollment period” runs from November 1st through December 15th for a January 1, 2023 effective date. This is your opportunity to review the new plans for 2023 and switch if so desired. There are many changes to the plans and networks. We, at Hart McConahy & Martz, have spent a great deal of time to stay current with all the changes as they have come along. This is also the time to review your subsidy eligibility, and updating your income projection for 2023.

I urge anyone with question, concerns, or would like to schedule an appointment to call our Individual Benefits Team at (814) 455-0987.

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Inflation Reduction Act (IRA) and Medicare
Posted on Friday, September 30, 2022 at 9:20 AM
Medicare Erie Pa

President Biden’s signing of the Inflation Reduction Act (IRA) marks the beginning of implementing many years of substantial change to the Medicare Part B and Part D programs.

How does the IRA impact 2023 Medicare Advantage plans (MAPD) and Prescription Drug Plans (PDP)?

 1: It limits the member cost-share on covered insulins to $35.

·         This means members won’t pay more than $35 for a one-month supply of each insulin product covered by their plan, no matter what cost-sharing tier it’s on, even if their plan has a deductible that hasn’t been met.

·         While some members already benefit from plans that offer $35 insulin, this legislation ensures that all seniors who use insulin benefit from this out-of-pocket cost limit.

·         Members receiving LIS will continue to pay the CMS statutory maximum cost share for insulin, which is less than $35.

 

2: It eliminates member costs and improves access for Part D vaccines.

 

·         Many 2023 plans will cover most Part D vaccines for a $0 cost share, even if a plan has a deductible that hasn’t been met.

How does the IRA impact 2023 Medicare Advantage plans (MAPD) and Prescription Drug Plans (PDP)?

It limits the member cost-share on covered insulins to $35. 

  • This means members won’t pay more than $35 for a one-month supply of each insulin product covered by their plan, no matter what cost-sharing tier it’s on, even if their plan has a deductible that hasn’t been met. 
  • While some members already benefit from plans that offer $35 insulin, this legislation ensures that all seniors who use insulin benefit from this out-of-pocket cost limit.
  • Members receiving LIS will continue to pay the CMS statutory maximum cost share for insulin, which is less than $35.
  • In Florida, some 2023 Aetna MAPD plans will offer select insulins for a $0 cost share at preferred pharmacies and a $20 copay at standard pharmacies. On these plans, other covered insulins will be available for the $35 IRA copay.
  • In addition, the 2023 SmartSaver PDP (which is non-commissionable for new sales), available in all 50 states, offers covered insulin for a $10 copay at preferred pharmacies and a $20 copay at standard pharmacies.

It eliminates member costs and improves access for Part D vaccines.

  • Our 2023 plans will cover most Part D vaccines for a $0 cost share, even if a plan has a deductible that hasn’t been met.

 

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CMS Releases 2023 Medicare Part B Premiums and Deductibles!
Posted on Wednesday, September 28, 2022 at 12:51 PM
2023 Medicare Erie Premium

On September 27, 2022, the Centers for Medicare & Medicaid Services (CMS) released the 2023 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs, and the 2023 Medicare Part D income-related monthly adjustment amounts.

The standard monthly premium for Medicare Part B enrollees will be $164.90 for 2023, a decrease of $5.20 from $170.10 in 2022. The annual deductible for all Medicare Part B beneficiaries is $226 in 2023, a decrease of $7 from the annual deductible of $233 in 2022.

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Medicare Part D Notices Are Due Before Oct. 15, 2022
Posted on Wednesday, September 21, 2022 at 1:40 PM
Medicare Erie PA

 Medicare Part D Notices Are Due Before Oct. 15, 2022

 

Each year, Medicare Part D requires group health plan sponsors to disclose to individuals who are eligible for Medicare Part D and to the Centers for Medicare and Medicaid Services (CMS) whether the health plan’s prescription drug coverage is creditable.

 

Plan sponsors must provide the annual disclosure notice to Medicare-eligible individuals before Oct. 15, 2022—the start date of the annual enrollment period for Medicare Part D. CMS has provided model disclosure notices for employers to use.

 

This notice is important because Medicare beneficiaries who are not covered by creditable prescription drug coverage and do not enroll in Medicare Part D when first eligible will likely pay higher premiums if they enroll at a later date. Although there are no specific penalties associated with this notice requirement, failing to provide the notice may be detrimental to employees.

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Kids Are Heading Back To School. How Does That Impact Your Insurance?
Posted on Friday, August 26, 2022 at 11:40 AM
Insurance Erie PA

The students and teachers are returning to school for another school year.  This time of year can mean it's time to talk with your local insurance agent to ensure they are covered.  Below are just a few concerns regarding students returning to school.

 

Here are a few concerns regarding students on your auto insurance:

1: Did they take a car? If so, did you change the garaging address?

2: Are they more than 100 miles away?  Did you get your discount?

3: Are they a B student or better?  Are you receiving the good student discount?


Your homeowners Insurance policy has many provisions to protect students, but is your student within the requirements?

1: Your home policy may provide 10% of your "personal property" coverage for their belonging.  BUT do they meet the criteria of "an insured"?

2: Are there additional liability requirements placed on your student by their landlord or school?

3: Is a simple HO-4 renters policy a cheap piece of mind for you?

Read More »
ACA Individual Market Update
Posted on Wednesday, August 17, 2022 at 3:56 PM
Health Insurance Erie PA

Tuesday, 8/16/2022, President Joe Biden signed the Inflation Reduction Act of 2022 into law. Among the many provisions of the bill are several aimed at lowering healthcare costs for Americans. As reported by Reuters, some healthcare-related impacts include:

  • An extension of American Rescue Plan Act subsidies for the Affordable Care Act exchanges for three additional years. These subsides could save each individual $800.
  • A $2,000 annual out-of-pocket cap on Medicare Part D prescription drugs beginning in 2025. The cap increases in subsequent years based on Medicare's annual spending for covered drugs.
  • The U.S. government negotiating the prices charged for the top 10 most-used drugs with pharmaceutical companies, starting in 2025.
Read More »
Increased ACA Subsidies Are Here to Stay
Posted on Thursday, August 11, 2022 at 8:52 AM
Health Insurance Erie PA + Pennie.com Erie

On Sunday, the U.S. Senate passed the Inflation Reduction Act of 2022. This bill contains a $64 billion, 3-year extension of healthcare subsidies for consumers first introduced in the American Rescue Plan (ARP) of 2021. The bill is expected to be passed by the U.S. House of Representatives when they vote on legislation this Friday, and will be signed into law shortly after.

 

This 3-year extension to ARP subsidies is great news for consumers who are receiving much needed help paying for their healthcare coverage! The ACA is stronger than ever, providing millions of Americans with health coverage that not only meets their needs but also fits their budget!

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It's Wedding Season! Here Are Some Wedding Coverage Concerns!
Posted on Tuesday, August 2, 2022 at 9:24 AM
Wedding Insurance Erie Pa + Insurance Erie PA
It is wedding season and many couples will be celebrating, but are they covered properly?
A wedding celebration can pose several liability concerns. There are many ways to protect the new couple on their day.
 
I. Special Event Liability Policy:
a.This type of policy provides coverage for third-party
bodily injury and property damage that may arise.
b. Coverage include facets like:
i. Liquor liability
ii. Non-owned/hired auto for renting or leasing vehicles
to transport people or materials.
iii. Inland Marine for replacement of rented equipment.
II. Big Day Umbrella Policy:
a. Big Day Umbrella acts as a wedding day rain
insurance policy that pays an agreed benefit if it
rains a predetermined amount on the insured's
wedding day at a specified location and during
specified hours. Pays up to $10,000!
These policies are very affordable and can make a very memorable wedding gift. For more information give our Personal Lines Team a call today
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Happy Memorial Day!
Posted on Friday, May 27, 2022 at 11:06 AM
Insurance Erie PA

The HMM Team would like to wish all an enjoyable and safe holiday weekend!

The Offices will be closing at 3:30 pm Friday 5/27/22, and remain closed Monday 5/30/22.  The team will be enjoying friends, family and remembering those who fought for our freedoms!  The office will be open at 8:30 am 5/31/22.

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Boating Season Finally Returns to the Erie Area!
Posted on Thursday, April 14, 2022 at 9:01 AM
Boat Insurance Erie PA

After a long winter, the local boaters are getting their vessels ready for another boating season!  Many are pulling boats out of storage, buffing on a fresh coat of wax, and checking their gear.  Now is a great time to do a review of your boat insurance policy.

The HMM Marine Team is gearing up for another season as well.  Give them a call to review your coverages, and update your policy with the new gear added over the winter.

Read More »
 
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