Do I need Medicare Part D? If you choose to enroll in a Medicare Supplement Plan (Medigap) or keep original Medicare, Medicare Part D or Prescription Drug coverage must be purchased separately. A late enrollment penalty may apply if you go without Medicare Part D for any continuous period of 63 days or more after your initial enrollment period. Medicare Part D Plans charge an additional monthly premium that varies plan to plan. How much does a Medicare Part D Plan cost? For the majority of people, you will only pay your Medicare Part D premium in addition to your Medicare Part A & B premium. The chart below shows what your Part D premium will be based on your income from your IRS tax retur
1. Medicare isn't just for seniors First and foremost, Medicare isn't designed solely for seniors. The disabled, as well as patients with end-stage renal disease (ESRD), qualify for Medicare coverage. 2. Seniors are enrolling at an incredible pace That said, make no mistake about it -- this program is primarily here for our nation's growing population of seniors. With roughly 48 million current beneficiaries, the program is expected to grow to an estimated 79 million beneficiaries by 2030. With every day that passes, roughly 10,000 seniors becomes eligible for Medicare. 3. How much Medicare pays Part A and Part B, which cover basic medical services, will pay 80% of your eligible medical e
Indexing the full retirement age to longevity would have a profoundly positive impact on Social Security. Social Security is, for millions of Americans, a financial lifeline during retirement. The average retired worker may only be receiving $1,364 per month as of Feb. 2017, or a little bit more than $16,300 annually, from Social Security, but that still amounts to more than half of the annual income collected by 61% of retired workers, according to the Social Security Administration. Yet this critical financial lifeline is in danger of failing current and future retirees. Estimates from the Board of Trustees 2016 report suggest that the Trust will have depleted its more than $2.8 trillion i
Answers to the 5 most-asked questions since the election Q: I’m already on Medicare. Could I really lose my coverage or see it radically altered? For people currently on Medicare, there is no immediate threat to your coverage. The most widely discussed plan proposed by House Republicans would not go into effect until 2024. But at this point, the debate is just beginning, and there are other proposals that could reduce coverage and raise costs for today’s seniors. Current beneficiaries could also be affected if the Affordable Care Act, known as Obamacare, is repealed, and the additional benefits that the law provided to Medicare recipients disappear. Q: Reforming Obamacare seems to be an impo