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Aetna Medicare Summit 2019 - guest speaker

7/22/2019

3 Comments

 
Picture
(Left to Right) Don Dempsey, Director of Government Affairs at CVS, Douglas Lubenow, President at Senior Advisors
Each summer, Aetna hosts a Summit Meeting with their largest distribution partners in the country to review some of their potential plan changes for the following year.

This year's event took place last week in Chicago, and we are excited that Doug Lubenow, was asked to present at this year's Summit.  The audience included 500+ distribution partners from around the country.  Doug presented with the Director of Government Affairs of CVS, Don Dempsey.  Doug and Don discussed some legislative updates that are currently being worked on to improve the Medicare system.   Some of the key bills discussed were:
  • ​HR-2564 - Medicare Enrollment Protection Act.  This bill is basically trying to fix the Medicare COBRA Trap which penalizes people over the age of 65 who enroll in a COBRA for 18 months (and do not enroll in Medicare Part B).  This bill would fix this problem so these individuals would be able to enroll in Medicare Part B with no penalties/delays after their 18 months of COBRA ends.
  • ​HR-1788 - Changes to Part B Late Enrollment Penalties.  People that miss their Part B Enrollment window (and don't have other credible Group Coverage), are eventually hit with a Part B Late Enrollment Penalty which lasts for the rest of the individual's life.  This bill would change these Late Enrollment Penalties to reduce the number of situations in which the Penalties apply and also change the duration of the penalty from lifetime to a shorter time period.
  • Bill TBD - Putting a Cap on the Out-of-Pocket Exposure for Part D of Medicare.  Currently, there is no cap on the Out-of-Pocket spending limit for Part D of Medicare.  This basically means if you have very expensive medications, you will continue to pay a copay/coinsurance for your medications for the entire year regardless of how much you have spent.  There is something called Catastrophic Coverage with Part D in which the member only has to pay 5% of their drugs after they reach a True-out-of-pocket limit (e.g. $5,100 in 2019), however 5% of very expensive medications could still be thousands of additional dollars per year in drug expenses.  This bill would change Part D of Medicare to include a CAP on the Out-of-Pocket limit that an individual could pay for medications in a given year.

Doug presented the impacts of each of these items as well as the reasons that we are supportive of these changes to help improve the Medicare System.


3 Comments
Gerard Dowd
7/22/2019 03:16:10 pm

CONGRATULATIONS DOUG.MY THANKS FOR YOUR VALUABLE ADVICE THESE PAST YEARS.

Reply
Inge Monticello
7/22/2019 08:42:56 pm

Absolutely, there should be no Part B Late Enrollment Penalties. If we are to accept that immediate enrollment at age 65 into Medicate will help pay for increasing medical cost as we age, then we must also consider penalties to remediate the enormous cost to our health care system for poor lifestyle choices, such as a sedentary lifestyle and excessive weight.

Reply
Patricia A. Smith
7/22/2019 08:46:43 pm

Thanks Doug for trying to improve these processes and sharing this information.I appreciate your help and advice.

Reply



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  • Home
  • FREE Quotes
  • About YOU
    • Turning 65, Ready to enroll?
    • Working Past Age 65?
    • Already on Medicare, Looking to Save Money?
    • Currently on a Retiree Plan?
  • About Us
  • Products
    • Medicare Supplements & Medicare Advantage >
      • Medicare Supplement - Plan F >
        • Plan F (2022)
        • Plan F (2023)
      • Medicare Supplement - Plan G >
        • Plan G (2022)
        • Plan G (2023)
      • Medicare Supplement - Plan N >
        • Plan N (2022)
        • Plan N (2023)
    • Medicare Part D - Prescription
    • Medicare & Dental
    • International Travel
    • Long-Term Care Insurance
    • Cancer and Heart Attack or Stroke Insurance
    • Medigap Plans
  • Workshops
    • Register for Workshop
    • Watch Workshop Now
  • Carrier Partners
  • Medicare Blog
  • Testimonials
  • Contact Us
  • Become an Agent
  • Areas We Serve
    • Basking Ridge, NJ
    • Livingston NJ
    • Medford, NJ
    • Mountainside, NJ
    • Mount Laurel, NJ
    • Philadelphia, PA
    • Phoenix, AZ
    • Scotch Plains, NJ
    • Scottsdale, AZ
    • Short Hills, NJ
    • Summit, NJ
    • Westfield, NJ
    • Princeton, NJ
    • Washington Township
    • Monroe Township, NJ
  • Medicare FAQs
  • Coffee with Justin
  • Medicare Minute