We first heard that Medicare Part B premiums were expected to increase in 2016. Then it was released this may not be the case. Today the Centers for Medicare and Medicaid Services (CMS) has announced the 2016 Medicare Part B premiums. Existing Part B recipients paying for Part B through Social Security = $104.90 (no change in 2016) Existing Part B recipients paying for Part B directly … [Read more...]
Increase in Medicare Part B Premiums May Not Happen
Due to a bipartisan budget deal seniors may not have to worry about the increase in Medicare Part B premiums. The article below by Robert Powell from USA Today talks about what seniors can expect in upcoming Medicare Part B changes. Budget proposal could mean no 52% jump in Medicare Part B premiums Millions of Medicare recipients bracing for a 52% premium increase are one step away … [Read more...]
Medicare Part B Premium Is Expected To Increase In 2016
Almost one third of Medicare Part B recipients are expected to see a 52% Medicare Part B premium increase in 2016. The anticipated rise in premium fees are due to Social Security and Medicare rules. In 2015 there has been little to no inflation and Social Security cannot pay the cost-of-living increase next year, 2016. Because of this the Medicare program must equally extend the premium cost … [Read more...]
Medicare Part D
Medicare Part D is also referred to as prescription drug coverage and is available through private insurance companies. You must live in the area that a specific Medicare Prescription Drug Plan services in order to be eligible. How Much Does Medicare Part D Cost? The various insurance companies offer different drug coverage plans so your premiums and out-of-pocket expenses will differ. … [Read more...]
Medicare Part C
If you qualify you can choose to enroll in a Medicare Part C plan. This plan is also known as a Medicare Advantage plan. Personal health insurance companies offer Medicare Part C (Medicare Advantage) as well as Medicare Part A and Part B coverage. Let us help you compare Medicare insurance plans that suit your individual needs and budget. What’s Covered by Medicare Part C? In all types of … [Read more...]
Medicare Part B
Medicare Part B covers you for all services performed outside of a hospital setting and is NOT free. You will receive coverage for Medicare Part A and Part B through a private health insurance company, if you have a Medicare Advantage Plan. What’s Covered by Medicare Part B? Medicare Part B covers various services and equipment that are essential to treating your health/medical condition. … [Read more...]
Medicare Part D Gap or Donut Hole
The Medicare Part D prescription drug Coverage Gap or Donut Hole, is the phase of your Medicare Part D benefit where there is a significant gap in your prescription drug coverage. During this phase, you have to pay more for your name brand medications, until you reach the catastrophic coverage phase where you will then have very small copays for those same name brand drugs. When your total … [Read more...]
Medicare is confusing – a Medicare insurance agent can help
Using a Medicare insurance agent can help you understand a somewhat confusing Medicare system and guide you in your Medicare insurance decisions. According to the New York Times, for millions of older Americans, Medicare's Annual Election Period is time to sift through the mind-boggling array of Medicare plans. There is an average of 29 drug plans to digest, and about 18 options for Medicare … [Read more...]
Should I activate Medicare Part B?
Before you Activate Medicare Part B make sure you are signed up for Medicare Part A You should sign up for Medicare Part A even if you are still working and have insurance through your employer as most people get Medicare Part A for free. Activate Medicare Part B Medicare Part B comes with a whole different set of rules you must understand before activating it. You’ll pay a premium when you … [Read more...]
When can I enroll in Medicare?
You can enroll in Medicare after your 65th birthday Your Initial Enrollment Period (IEP) starts three months before your 65th birthday, includes your birth month and ends 3 months after your 65th birthday. You have a total of 7 months to enroll in Medicare. Social Security & Auto Enrollment in Medicare Are you currently receiving social security benefits? If you are already receiving … [Read more...]
