Topic: insurance
When Medicare first began in 1965, the idea was that it was for everyone over age 65, not just those who were poor. There would be no stigma.
Things are different now. We live longer. Medical costs are rising. In 2003, Congress decided that those with higher incomes should chip in extra to share the load. This extra is called the “income-related monthly adjustment amount” (IRMAA). …
October 15–December 7 is Medicare’s annual “open enrollment” period. This is when you can switch plans. Are you getting a lot of mail about the cost savings of Medicare Advantage (MA)? The initial outlay may seem less than your current plan. And if you have “original Medicare,” plus a supplemental plan for the 20% Medicare doesn’t cover, andprescription coverage, bundling it all together is tempting. …
From October 15 to December 7 each year, Medicare enrollees have the option to change their insurance plans. For prescription drug coverage, which is only offered by private insurance companies, it pays to shop around. Even if you have been happy with your current plan, drug prices and premiums change from one year to the next. It’s a good idea to compare. There could be hundreds of dollars at stake. …
Shopping tips for Medicare prescription insurance (Part D)Read More »
Much as we would like to imagine an elderhood free from troubles, the truth is, we are all likely to need help eventually. And on several levels. …