While it’s not often we get to talk about rate decreases, Medicare beneficiaries will see a decrease in their Part B premium for 2023. Beneficiaries may remember the 2022 premium increase of 14.5% increase last year, primarily due to expected spending trends due to COVID-19 & a newly released Alzheimer’s medication, Aduhelm. Expected costs were […]
Medicare
Low-Income Subsidy Plans: NY, NJ, CT & PA
Low-Income Subsidy Plans Available to Help with Overall Health Available in New York State, New Jersey, Connecticut, and Pennsylvania! Contact us today about the Low-Income Subsidy (LIS) plans designed for beneficiaries with limited resources who: DO qualify for the Low-Income Subsidy (also known as “Extra Help”), but DO NOT qualify for a zero-dollar, dual special […]
New to Medicare Soon? Check Out Our Medicare 101 Brief
Medicare 101 If you’re nearing retirement age, or are over 65 and still working, you may have questions about Medicare. Read on for the information you need to know. What Is Medicare? Medicare is health insurance for people who are age 65 or older, under 65 with certain disabilities, or any age with End-stage Renal […]
Medicare & You 2022: The Official U.S. Government Medicare Handbook
Medicare annually publishes their helpful Medicare & You handbook with a lot of helpful information whether you’re new to Medicare or already enrolled every Medicare beneficiary should have a copy and read over to better understand the programs. You can read more here:
Medicare Supplements (MediGap) – How Do They Work?
One very popular method for Medicare beneficiaries to plan for healthcare costs is to use “Original Medicare” Parts A & B as primary coverage for physicians and hospitalization. Original Medicare however can have significant out of pocket expenses. This is where Medicare Supplements (MediGap) plans come in to play. They can help cover the deductibles, […]
Health Savings Accounts (H.S.A.) and Age 65 When You Become Eligible for Medicare
Health savings accounts (HSAs) are tax-advantaged savings accounts that individuals can use to save money for medical expenses. You own the account, not your employer, and any money in the account that you don’t spend carries over to the next year; there are no “use it or lose it” rules as with other types of […]
What is the Medicare Part D Prescription Drug “Donut Hole” aka Coverage Gap?
The Medicare Part D “donut hole” or coverage gap is the phase of Part D coverage after your initial coverage period. You enter the donut hole when your total drug costs—including what you and your plan have paid for your drugs—reaches a certain limit. In 2022, that limit is $4,430. While in the coverage gap, […]
Medicare Part B – How Does it Work with Other Insurance? Who Pays First?
A common question we get is “I am turning 65 soon and will be Medicare eligible but plan on still working and covered by my employer’s health plan, do I need to sign up for Medicare Part B?” The answer: it depends. If your employer is under 20 employees and the health insurance carrier coordinates […]