By Elaine Silvestrini From Kiplinger’s Personal Finance Question: With inflation pushing up the price of just about everything, will Medicare Part B premiums also be rising for 2023? Answer: No. Medicare beneficiaries are getting a rare bit of good news as their Part B premiums and deductibles will tick down next year after the government…
North Carolina Treasurer’s Office Says Hospitals Reaping Billions from Medicare Despite Claiming Otherwise
October 28, 2022
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A report prepared for the North Carolina State Treasurer’s Office revealed that many state hospitals and lobbyists haven’t lost billions of dollars on Medicare patients as they previously claimed, but in fact made large profits from 2015 to 2020. “What we’re seeing is the biggest transfer of wealth in my lifetime in North Carolina,” state…
How to Change Medicare Plans, and Why You Might Want To
Medicare open enrollment starts soon, but 7 in 10 Medicare beneficiaries say they don’t compare Medicare plans during this period, according to a 2021 analysis by KFF, a health policy nonprofit. That’s not great, since Medicare Advantage plans—which operate much like the private insurance you may have had through an employer—change from year to year….
Australian Government to Investigate Claims about Multi-Billion Dollar Medicare Fraud
Australian Health Minister Mark Butler has committed to investigating claims that billions of dollars are lost each year due to fraud in the Medicare system. This comes following a joint report by the Australian Broadcasting Corporation (ABC) and Nine newspapers, which alleged that some practitioners were swindling Medicare and charging for non-delivered services. The news…
Medicare Part B Will Cost Less Next Year
In a historic move, Medicare costs have declined for the first time in years. Seniors on Medicare will enjoy a reduction in the cost of Medicare Part B by a few dollars. The reason for the savings is that a drug called Aduhelm, which treats Alzheimer’s, was less expensive than was projected for 2022. Medicare…
Biden Touts Reduction of 2023 Medicare Fees, Due Largely to Limiting of Alzheimer’s Drug
President Joe Biden on Tuesday touted a decline in costs for tens of millions of Americans covered by the Medicare health program as the country continues to battle with soaring inflation, stating that the “American people won, and Big Pharma lost.” Monthly premiums for Medicare Part B will drop by $5.20 for an annual savings of…
5 Unexpected Expenses to Prepare for in Retirement
It’s no secret that retirement can be expensive. It’s why we spend (or should spend) most of our productive life planning and preparing for it so it doesn’t become a financial nightmare. But even with the best-laid plans, some unexpected expenses can pop up and throw a wrench in your budget. That’s when we think,…
4 Non-Investment Questions to Ask an Advisor Before Retiring
Using a financial adviser for your investment needs is 100 percent on brand, but what about the other parts of your retirement life? For example, a third of people ages 64 and up have a financial adviser, but only 2 percent of them asked their adviser to help with their Medicare choices, according to a…
Family Finances: How the Inflation Reduction Act Affects Your Finances
By Sandra Block From Kiplinger’s Personal Finance The Inflation Reduction Act includes everything from a tax hike on large businesses to extended subsidies for Affordable Care Act health insurance policies. Here’s a look at the provisions that could affect your finances. Lower Drug Costs for Seniors Medicare will have the right to negotiate prices for prescription…
4 Things You Should Know About Working After You Turn 65
Continuing to work past the traditional retirement age gives many the opportunity to add more money to their nest egg—and delay Social Security, which will bump up their eventual benefits check. In May, 21.9 percent of Americans ages 65 and older were working, compared with 19.5 percent in May 2020, according to a study released…
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