Health Care Reform
Medicare Advantage Plans
You Can Trust as Health Care Changes
Understanding Medicare and choosing a health plan are not always easy. That’s why we’re here; to be your partner and help you along the way. At HealthNow NY, Inc. we offer different types of Medicare Advantage plans, giving you options to find the plan that’s right for you.
Not sure where to start or which option to choose? Call us and one of our representatives will help you find a plan that fits your needs.
HMO-POS Part D*
Rx PDP Value
|Smart Saver RX PDP|
|2015 Monthly Premium**||$71||$0||$80.20||$82.10|
|Out-of-pocket (OOP) maximum||$3,400||N/A||N/A||N/A|
||Use MSA funds||N/A||N/A|
$7 / $20
|A stand-alone drug plan, like SmartSaver Rx PDP can be purchased.||$320 deductible
$10 / $20
$44 / $90
* SelectSaver HMO-POS Part D is only available in Monroe and Wayne counties.
** You must continue to pay your Medicare Part B premium.
The benefit information provided is a brief summary, not a complete description of benefits. For more information, contact the plan. Limitations, copayments, and restrictions may apply. Benefits, formulary, pharmacy network, provider network, premium and/or co-payments/co-insurance may change on January 1 of each year.
MSA Plans combine a high deductible Medicare Advantage Plan and a trust or custodial savings account (as defined and/or approved by the IRS). The plan deposits money from Medicare into the account. You can use this money to pay for your health care costs, but only Medicare-covered expenses count toward your deductible. The amount deposited is usually less than your deductible amount, so you generally have to pay out-of-pocket before your coverage begins.
Medicare MSA Plans don’t cover prescription drugs. If you join a Medicare MSA Plan, you can also join any separate Medicare Prescription Drug Plan.
There are additional restrictions to join an MSA plan, and enrollment is generally for a full calendar year unless you meet certain exceptions. Those who disenroll during the calendar year will owe a portion of the account deposit back to the plan. Contact the plan at 1-800-248-9296 (TTY 711) for additional information.
You must file Form 1040, US Individual Income Tax Return, along with Form 8853, “Archer MSA and Long-Term Care Insurance Contracts” with the Internal Revenue Service (IRS) for any distributions made from your Medicare MSA account to ensure you aren’t taxed on your MSA account withdrawals. You must file these tax forms for any year in which an MSA account withdrawal is made, even if you have no taxable income or other reason for filing a Form 1040. MSA account withdrawals for qualified medical expenses are tax free, while account withdrawals for non-medical expenses are subject to both income tax and a fifty (50) percent tax penalty.”
Tax publications are available on the IRS website at http://www.irs.gov or from 1-800-TAX-FORM (1-800-829-3676).
HealthNow New York Inc., is a Medicare Advantage and PDP plan with a Medicare contract. Enrollment in HealthNow New York depends on contract renewal.
Y0086 H9788_MRK1391 Approved
Content last updated October 1, 2014