Category: Article

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...

Medicare offers up to 8 free Covid-19 tests per month

Medicare Part B (Medical Insurance) covers FDA-authorized COVID-19 diagnostic tests (coverage could change when the public health emergency ends). You pay nothing for a diagnostic test during the COVID-19 public health emergency when you get it from a laboratory, pharmacy, doctor, or hospital, and when Medicare covers this test in your local area. Medicare now...

Just say NO to Crypto

Buyer beware. Many of you may not remember the 1980’s recession. In that instance there were many people investing in high interest rate deposits that were not insured by the Federal Government. Many people lost a lot of money. Then there was the recession of 2007 where home mortgages...

CMS Medicare Fast Facts – November 2021

The Centers for Medicare & Medicaid Services Fast Facts document contains a variety of statistical data about Medicare and how it is used. As of 2021, there are 63.6 million people using Medicare.  Approximately 57% of those people (36.2 million) on Medicare use Original Medicare....

2022 Medicare Part B premium increase being reconsidered

There’s a chance that your Medicare Part B premiums for 2022 could be reduced. Health and Human Services Secretary Xavier Becerra on Monday announced that he is instructing the Centers for Medicare & Medicaid Services to reassess this year’s standard premium, which jumped to $170.10 from $148.50 in 2021....

Medicare COVID-19/Coronavirus Coverage

Medicare has full coverage for COVID-19.  Medicare has complete coverage to help prevent COVID-19.  In addition, Medicare has additional coverages in you contract COVID-19. Here is a brief summary of Medicare’s COVID-19 coverage: COVID-19 vaccine at no cost to you COVID-19 vaccine booster shot at no cost to you...