On October 12, 2018 the Centers for Medicare & Medicaid Services (CMS) released the premiums, deductibles and coinsurance amounts for the 2019 Medicare Part A and Part B. MEDICARE PART A PREMIUMS/DEDUCTIBLES Medicare Part A covers inpatient hospital, skilled nursing facility and some health care services. Most Medicare beneficiaries do not have to pay a Part A premium as they have at least 40 quarters of Medicare-covered employment that was being applied to their Part A costs. The Medicare Part A inpatient hospital deductible that you will be responsible for when you are admitted to the hospital will rise $24.00 in 2019 to $1,364. This inpatient hospital deductible covers your share of the costs for 60 days. For the exact
Are you losing your current Medicare Plan?
Is your current cost plan ending in December? Did you know that enrollment in cost plans are typically an HMO plan with a Medicare contract? Enrollment in a cost plan depends on contract renewal with Medicare and letters may be sent out as early as March to let you know that you will have to choose a new plan for January 2019. If you are looking for a plan that does not depend on a contract renewal with Medicare and allows you the freedom to see any doctor you choose that accepts Medicare; you should give us a call today at 608-575-7067.
Why Signup for Medicare BEFORE you turn 65?
Did you know that you should sign up for Medicare 3 months before your 65th birthday? Even if you don’t plan to take Medicare, you should sign up for Part A (Hospitalization) which normally does not have a premium because you have been paying into it through your Social Security taxes. Signing up for Part A may alleviate any potential issues in the future when you decide to join Medicare. If you are not sure about taking Medicare, give us a call today at 608-575-7067 and we can review all your options to help you make this very important decision.
Don’t Get Blindsided By Gaps in Medicare Coverage
Since Congress created the program in 1965, Medicare has been a cornerstone of health care access and affordability for seniors, as well as some younger individuals with specific conditions including end-stage renal disease and amyotrophic lateral sclerosis (Lou Gehrig’s disease). But too many people overestimate what Medicare truly covers – and leave themselves still dangerously exposed to unexpected health care costs even on Medicare. According to the 2014 Health Wealth and Retirement study from Ameriprise Financial, over 60 percent of Americans surveyed report they expect Medicare will cover most or all of their health care costs in retirement. But for many, the reality will prove to be quite different. Long-Term Care – It’s a common misconception, you may not realize,
Savings or Annuities: How do They Compare?
If you’re quickly approaching retirement, you’re probably asking yourself an all-too-common question: should I invest in a bank CD or an annuity? You’re not alone. Consumers across the nation are struggling with the same dilemma. The first step in making this important decision is to understand the differences between these two products. Annuities and CDs (short for bank certificates of deposit) might appear to be very similar at first glance. Both are secure, low risk investments that are designed to help you safely accumulate wealth. However, these two types of investments are actually very different products. First of all, CDs are generally issued by banks while annuities are offered by insurance companies. Secondly, a CD is typically a better investment
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