Three important documents grant caregivers permission to consult with a parent’s doctor, access medical records, ask questions about claims and make health care decisions on a parent’s behalf: Health care proxy Health Insurance Portability and Accountability Act...

Making sense of the alphabet soup of health care choices Medicare is complicated and can be confusing to sort through. To make it easier, the program has been broken down into four basic parts that include coverage for everything from hospital care to doctor visits to...

Reforms embedded in the Inflation Reduction Act will bring savings to seniors this year. Already some lawmakers are aiming to repeal the changes. Steve Lubin spent a lot last year on insulin to control his Type 2 diabetes. A retired nurse in Philadelphia, Mr. Lubin...

How did the donut hole change for 2023? As has been the case in previous years, the thresholds where a person enters and exits the “donut hole” increased in 2023. We’ll explain this in more detail below, but the short story is that the initial coverage limit increased...

With 2023 fully underway, there are new costing guidelines associated with Medicare that went into effect Jan. 1. CNBC noted that copays and deductibles for Medicare Part A (which includes hospital stays) are going up, while Part B premiums and deductibles (outpatient...

With almost one in two seniors now enrolled in the privatized health plan alternative to traditional Medicare known as “Medicare Advantage,” look for growth to escalate in 2023 and beyond. Though there have been probes into aggressive marketing practices and other...

KEY POINTS Roughly 29.1 million people are enrolled in Medicare Advantage Plans. Each year from Jan. 1 through March 31, those beneficiaries can switch to another Advantage Plan or drop their current one altogether. Here’s what to be aware of if you consider making a...

Planning well in advance of your Medicare eligibility can help you get every dollar in Medicare benefits you have coming to you. Here, in a nutshell, is what you should do and when you should do it. 12-6 months before your 65th birthday Set up your post-retirement...

The new year brings a cap on insulin copays, free vaccines, lower premiums and more Some of the biggest changes to Medicare in years take effect in 2023, with more than 65 million Americans paying lower premiums and deductibles and about to feel the effects of...

With 2023 fully underway, there are new costing guidelines associated with Medicare that went into effect Jan. 1. CNBC noted that copays and deductibles for Medicare Part A (which includes hospital stays) are going up, while Part B premiums and deductibles (outpatient...

Every year Medicare costs can change. Costs for the upcoming year are announced in the late fall, and the new costs go into effect January 1. For 2023, Medicare costs decreased for Medicare Part B, but increased for Part A. What is the Medicare Part B premium for...

KEY POINTS New rules that will be beneficial for some Medicare enrollees are going into effect Jan. 1. The idea is to eliminate any delays in coverage that some new beneficiaries experience, depending on when they enroll. Additionally, individuals who didn’t sign up...

It can. If you are what Social Security considers a “higher-income beneficiary,” you pay more for Medicare Part B, the health-insurance portion of Medicare. (Most enrollees don’t pay for Medicare Part A, which covers hospitalization.) Medicare premiums are based on...

A year-by-year implementation timeline of the Inflation Reduction Act’s health provisions The Inflation Reduction Act of 2022 will transform Medicare’s prescription drug coverage through provisions that for the first time will allow the program to negotiate prices of...

Most Medicare drug plans have a coverage gap (also called the "donut hole"). This means there's a temporary limit on what the drug plan will cover for drugs. Not everyone will enter the coverage gap. The coverage gap begins after you and your drug plan have spent a...

Medicare premium costs are changing next year. In 2023, Medicare Part B premium prices will be cheaper, while Part A premiums and deductibles will become slightly more expensive. This is because the Social Security Administration each year adjusts costs associated...

KEY POINTS The specific drugs that a plan covers can change from year to year, as can their cost, which makes it worthwhile to make sure there’s not a better plan for you. Additionally, some Medicare-related provisions in the recently enacted Inflation Reduction Act...

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...

When it comes to Medicare, the question we hear most often after “What does it cost?” is, “What does it cover?” There are no simple answers, but you can start here to find general answers to some of the most common questions about Medicare coverage. What does Medicare...

You probably know that your Medicare Part B premium can change each year. Do you know why? Or how the amount is calculated? Or why it may increase? Medicare costs, including Part B premiums, deductibles and copays, are adjusted based on the Social Security Act. And in...

Changes for 2023 include premium and deductible increases for Part A, lower rates for Part B, and better Part D coverage due to the Inflation Reduction Act Key takeaways The standard Part B premium is decreasing to $164.90 for 2023. The Part B deductible is also...