How much does Medicare cost? Is Medicare free? Is Medicare Part B free? What are my Medicare premiums in 2023? Many don’t realize that Medicare isn’t free. The costs for Medicare Part B and Part D, as well as supplemental coverage, are something that many don’t anticipate in retirement. It can surprise you when you…
What is Medicare Part A? Medicare Part A is your hospital coverage. It provides you with affordable inpatient care. So, what does Part A cover? It’s going to cover a semi-private room with a bed for you and all your regular meals while you are there. It will cover medications furnished to you by the…
What is Medicare and how will it work? What will it cover? Though these may seem like simple questions, the answer is complex. The idea here is to simplify those questions so you can make an informed decision that is right for you. Medicare is a national health insurance program in the US for people…
Who is eligible and when can you get Medicare? Medicare eligibility begins for most people at age 65. Individuals who have been entitled to Social Security disability for at least 24 months also qualify. There are other situations someone can qualify for Medicare under the age of 65: If you are permanently disabled and you…
Before 2020, Medicare Supplement (Medigap) Plan F was by far the most popular option for Medigap beneficiaries. That was because Plan F was the most generous of all the Medigap plans available on the market. It essentially covered all the gaps in Original Medicare, providing “first dollar” coverage for all services covered under Medicare. Medigap…
Many Americans are grossly underinsured against the risk of devastating long-term care costs. According to the 2020 annual “Cost of Care Survey” from Genworth, the average yearly cost for a semi-private room in a long-term care skilled nursing facility is $93,075 and rising, while the average assisted living facility costs $51,600 per year. Both are enough to…
The Centers for Medicare and Medicaid Services has issued new rules that require Medicare to cover medical devices that the Food and Drug Administration designates as “breakthrough” technology. The rule paves the way for giving Medicare recipients access to the latest technologies four years after they receive market approval by the FDA. The move…
As health insurance costs rise and our workforce ages, fewer employers are providing retiree health insurance benefits to their older workers, and are instead asking them to sign up for Medicare. It’s a delicate situation as some older workers may resent being pushed to Medicare, especially if they’ve worked for their employer for a long…
While the COVID-19 crisis worsens, Congress has made a number of important changes to Medicare to help recipients cope with associated costs, should they be tested or receive treatment. If you are a Medicare recipient, here are the changes you should know about, thanks to the passage and enactment of the CARES Act: No out-of-pocket…