Among 65.9 million Medicare-eligible individuals, 33 million are enrolled in Medicare Advantage in 2024. The private program saw a 5.4 percent enrollment growth from last year—a slower increase than previous years. Meanwhile, traditional Medicare enrollment declined by 515,000 beneficiaries,...
The Social Security Administration will announce its 2023 cost-of-living adjustment next month, with The Senior Citizens League projecting that benefits will rise 8.7%. That would mark thehighest increase since 1981. How much you'll save The typical Part B savings will amount to $62.40 over the...
According to KFF, the average monthly premium for Medicare Part D in 2024 was $43, which was a 5% increase from 2023’s average premium of $40. If you have Medicare drug coverage (Part D) and your drug costs are high enough to reach the $2,000 cap...
Ahead of the Medicare Open Enrollment Period, CMS hasannouncedthat Medicare Advantage premiums, benefits, and plan choices will remain relatively stable in 2024. “A top priority for CMS is to protect and strengthen the Medicare program for people with Medicare, their children, and ...
That’s a 3% increase from 2023, the CMS said. Similarly, almost 817,000 providers are participating, compared with 700,000 last year. Participation in ACOs is important since the organizations have been shown to create better outcomes than non-ACO physician groups, and create savings for ...
Medicare enrollees who are already getting Social Security benefits can expect the new 2025 Part B premium to be automatically deducted from their Social Security checks in January. Those not yet receiving Social Security benefits but paying Medicare Part B each month will need to make sure they ...
According to the Kaiser Family Foundation, Medicare benefits spending is projected to increase to nearly $1.8 trillion by 2031 due to growth in the Medicare population and increases in health care costs. Your Medicare costs might be on your mind as you look at your expenses. Are Medicare costs...
These enhancements to Medicare coverage come on the heels of the SSA announcing an 8.7% increase in Social Security and Social Security Disability Insurance (SSDI) benefits in 2023. At the same time, the Medicare Part B monthly premium will decrease in 2023 to $164.90 from $170.10 in...
Social Security’s tax rate and benefits are set by law. So to tweak them, Congress must first change the law, and the president then needs to sign it. “While a president does not have legislative power, he has a lot of influence to introduce and push for large-scale changes,” says...
Some Medicare Advantage plans are also reducing benefits such as dental coverage, Rubin noted. More Medicare Advantage plans feature "a very high max out-of-pocket [limit] for in- and out-of-network costs, with embedded Part D drug plans that have deductibles all over the place." ...