2023 Medicare Parts A & B Premiums and Deductibles 2023 Medicare Part D Income-Related Monthly Adjustment Amounts
On September 27, 2022, the Centers for Medicare & Medicaid Services (CMS) released the 2023 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs, and the 2023 Medicare Part D income-related monthly adjustment amounts. Medicare Part B Premium and Deductible Medicare Part B covers physician services, outpatient hospital services, certain…
What is the Initial Coverage Election Period?
If you’re new to Medicare, you may be familiar with the Initial Enrollment Period (IEP), an election period that covers from 3 months before your 65th birthday to 3 months after. However, if you chose not to sign up for Part B during your IEP, there is another enrollment period available to you, known as…
Turning 65 With Employer Insurance and the Need to Report Creditable Coverage to CMS
If you’re turning 65 and still intend to have employer coverage, or if maybe you’re delaying your retirement just a few months after your birthday, one thing to keep in mind is making sure you receive an annual written notice of creditable coverage from your employer. As you may or may not know, Medicare will…
Medicare and Health Savings Account
A Health Savings Account (HSA) lets you deposit untaxed dollars into a savings account that can be used to pay for qualified medical necessities. Employers and financial institutions offer this kind of savings account to eligible individuals. You may only contribute to an HSA at age 65 or older if you are covered by an…
Making the Most of Your Medicare Plan: Know Your Benefits and Save Money
Whether you’re on a limited income, or just trying to justify how much you’re paying for your Medicare Advantage plan, we all want to get the most out of our health care plan. Every plan comes with a lot of information and explanation about its benefits, and it can be overwhelming to drill down into…
Getting free at-home COVID-19 tests
Last week, the White House announced covidtests.gov, a site with the purpose of supplying free rapid antigen COVID-19 tests to every U.S. household. The new site is now live and ready to take orders, as well as provide additional resources and information for those in need of testing. Here are a handful of things to…
A Preview of 2022: Medicare Part A and B Costs
It’s that time of year again, and Medicare has released the Medicare Part A & B Costs for 2022. Below are the key details that may affect your premiums going forward in the new year. Part A Costs If you don’t qualify for premium-free Part A, you can buy Part A. People who buy Part…
Is your Medicare plan still the best fit for you?
Even if nothing changed for you since last year, a lot can change about your plan. Each year around September you’ll receive your Annual Notice of Change (ANOC) from your carrier.
A Preview of 2022: 7 Changes to Medicare Part D Defined Standard Benefits
Around this time every year Center for Medicare and Medicaid Services (CMS) releases the benefit parameters for Part D’s “Defined Standard Benefit” plan, as well as the parameters for the Low-Income Subsidy benefits. All Medicare Part D plans use this as a base to determine drug plan coverage for the following year. With this in…
What is Medicare Part B?
Medicare Part B is one of the primary parts of Original Medicare, and helps to cover the care you receive from doctors, specialists, outpatient centers and more.