Medicare to enhance Medicare Advantage coverage decisions
January 1, 2024, the “Centers for Medicare and Medicaid Services begins restricting how Medicare Advantage plans use predictive technology tools to make some coverage decisions. “ Predictive technology uses computer software to determine how much care a Medicare Advantage plan customer may need. Thus, not taking in the full picture...
Medicare Open Enrollment – Oct. 15 to Dec. 7
Medicare health and drug plans can make changes each year—things like cost, coverage, and what providers and pharmacies are in their networks. “October 15 to December 7 is when all people with Medicare can change their Medicare health plans and prescription drug coverage for the following year to better...
Elder orphans and solo agers, plan for the future
… “elder orphans” (older people without a spouse or children on whom they can depend) and “solo agers” (older adults without children, living alone), … expecting to move through later life without the safety net of a spouse, a son or a daughter who will step up to provide...
Dementia villages on the rise
But barely in the U.S. From the New York Times, “As Cases Soar, ‘Dementia Villages’ Look Like the Future of Home Care” “A new generation of treatment facilities is aiming to integrate dementia patients with the communities around them, blurring lines between home and hospital.” The article discusses a...
Drug Coverage under the Inflation Reduction Act
The Inflation Reduction Act under the Biden Administration reduces drug costs, stabilizes the cost of insulin, lowers the cost of insulin, increases vaccine coverage, and more. Here are some frequently asked questions about how the Inflation Reduction Act affects drug coverage under Medicare. For example, “Beginning January 1, 2023,...
Medicare Part D (drugs) insulin benefits enhanced
Effective January 2023, “the cost of a one-month supply of each Part D-covered insulin is capped at $35, and you don’t have to pay a deductible for insulin. This applies to everyone who takes insulin, even if you get Extra Help. If you get a 60- or 90-day supply...
Social Security payroll tax maximum earnings increases
The maximum earnings subject to Social Security for 2023 is $160,200. That is a 8.98% ($13,200) increase over the 2022 maximum earnings amount for 2022 of $147,000. Employees (6.2%) and employers (6.2%) contribute equally to the Social Security taxes (12.4%). Thus, an employee who made $160,200 or more in...
National Council on Aging is helping Senior Citizens
National Council on Aging Description from USC Leonard Davis School of Gerontology: The National Council on Aging (NCOA) is a nonprofit advocacy and service organization that focuses on joining the efforts of government, businesses and nonprofit organizations to improve the lives of our older adults. They center their attention...
Medicare reduces Part B premiums for 2023
“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.” … “The standard monthly premium for Medicare Part B enrollees...
Social Security Cost of Living Increase for 2023 – 8.7%
“Social Security Announces 8.7 Percent Benefit Increase for 2023.” “Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 8.7 percent in 2023, the Social Security Administration announced today. On average, Social Security benefits will increase by more than $140 per month starting in...