Veterans & Medicare: Healthcare for those who served
Article published in Northampton Living
(April 2022)
EXPERT CONTRIBUTOR
ERICA ANNE BEAUDRY
Medicare Advisor
EA Financial Solutions
413 626 9906
info@eafinancialsolutions.com
www.eafinancialsolutions.com
Did you know that 1 out of every 5 Medicare beneficiaries is a veteran? Many don’t realize that enrolling in a Medicare Advantage plan will not disrupt VA coverage; in fact, it can enhance it by adding provider choices and extra benefits such as dental, transportation, and in some situations a partial Part B premium giveback.
Let’s take a look at how Veteran’s Administration Healthcare combined with Medicare can provide layered services. First of all, Veterans Administration (VA) Healthcare is a benefit not insurance. It does not interact with Medicare (original or otherwise) for billing purposes so there are no primary and secondary payer roles as you might expect when pairing Medicare with an employer-provided healthcare plan. You have the option to see a VA medical provider or seek a second opinion from a provider in your chosen Medicare Advantage network. The option to see a provider outside of the VA system is important because it can be difficult to get a second opinion within the VA Healthcare system.
Next, Medicare Advantage plans provide choices and access to more than just providers, they offer pharmacy formulary options. For example, a veteran pairing Medicare options with VA coverage can use both Medicare Advantage prescription coverage and the VA to supply drug needs. Depending on the veteran’s priority group they could find cost savings on Tier 1 drugs using a Medicare Advantage prescription drug plan while taking advantage of a lower copay on Tier 3 drugs through the VA. The point is it is not a choice of either or, it is more a strategy of determining when to refill here or there. For those who currently have VA only prescription coverage, rest assured it does count as creditable coverage and therefore helps you to avoid the Part D penalty for late enrollment.
VA healthcare benefits, however, do not help you avoid Part B late enrollment penalties, this is why most guidance suggests you enroll in Part B as soon as you are eligible unless you have other creditable coverage such as through an employer or a spouse’s employer-based plan.
Adding to the list of positives, emergency services such as treatment at a non-VA facility and an ambulance ride may not be covered by the VA therefore coverage through a Medicare Advantage plan could be a good back up in these situations.
If you or a loved one are unsure if you qualify for VA healthcare coverage you can check eligibility and apply for coverage at va.gov. For a no-cost benefit review please contact me, Erica Ann Beaudry, licensed independent insurance agent, via email info@eafinancialsolutions.com or call (413) 626-9906. I am honored to serve those who have served.
Disclaimer: I do not work for and I am not affiliated with Medicare
