Medicare Blog

2025 Medicare Premiums and Deductibles

November 9, 2024

   CMS just announced the updated Part B premiums for 2025. The standard Part B Premium increased $10.30/month from $174.70/month in 2024 to $185/month in 2025. Part B deductible Increased $17 from $240 in 2024 to $257 in 2025. Last month, Social Security announced the 2025 Cost of Living Adjustment will be 2.5% On average, Social Security retirement benefits will increase by about $50 ... 2025 Medicare Premiums and Deductibles

2025 Part D’isaster?

August 25, 2024

In August of 2022, the Inflation Reduction Act (IRA) was signed by President Biden.  This bill had several provisions related to Medicare Drug Pricing with good intentions.  Some of the big changes which take effect in 2025 are: Maximum out of Pocket of $2,000 Medicare Prescription Payment Plan Maximum out of Pocket of $2,000 In ... 2025 Part D’isaster?

Medicare Plan N vs Plan G

June 15, 2024

  Over the last several years, the two most popular Medicare Supplements have been Plan G and Plan N. We wanted to create a short video and article to explain some of the differences between these two plans. Before we discuss the differences, we want to highlight some of the key characteristics of ALL Medicare ... Medicare Plan N vs Plan G

What the Hack?

June 6, 2024

On Wednesday, June 5, 2024, we received numerous phone calls (and emails) from clients who are patients of Hackensack Meridian Health System in NJ. These clients received an email from Hackensack Meridian that indicated they may be losing access to their Providers with Hackensack Meridian. This email explains the ongoing contract negotiations with Aetna Medicare ... What the Hack?

Senior Advisor Phone Calls

May 10, 2024

SPAM CALLS? We are aware that a company is making a tremendous number of calls stating they are “Senior Advisors”. This is not our family business that is making these calls. We sympathize with you if you are experiencing this; we have zero affiliation with the company that is making these calls. As we work ... Senior Advisor Phone Calls

Turning 65 and Still Working

April 21, 2024

Still employed and turning 65? Confused about whether or not to enroll in Medicare? This can be a loaded topic, as the answer to “whether or not to enroll in Medicare” depends on your specific situation… just like so many things in the Medicare realm…. what is right for “person A” may not be right ... Turning 65 and Still Working

HSA and Medicare

March 16, 2024

It’s that time of year – tax season! This time of year seems to trigger an inordinate amount of questions related to HSAs (Health Savings Accounts) and Medicare. In this short video, we attempted to address some of these frequently asked questions. Some important topics covered in the video. Do I have sign-up for Medicare ... HSA and Medicare

Medicare Part B Premium 2024, IRMAAs, and Deductible, and Social Security COLA

October 12, 2023

CMS just announced the updated Part B premiums for 2024. The standard Part B Premium increased $9.80/month from $164.90/month in 2023 to $174.70/month in 2024. Part B deductible Increased $14 from $226 in 2023 to $240 in 2024. Social Security also announces the 2024 Cost of Living Adjustment will be 3.2% On average, Social Security retirement benefits will increase by more than $50 ... Medicare Part B Premium 2024, IRMAAs, and Deductible, and Social Security COLA

Medicare Part D Changes 2024

July 12, 2023

Each year, there are changes to the Part D Prescription Drug Coverage of Medicare.  We won’t have visibility to the actual Part D Plans until October 1, but there are some structural changes that occur each year with Part D.  Key updates for 2024 are below. Annual Deductible Limit – increase of $40 from $505 in 2023 to ... Medicare Part D Changes 2024

2023 NJ PAAD Income Levels Released

November 8, 2022

Last week, the state of NJ released their 2023 income levels for State Prescription Assistance Programs.  These are very helpful programs for individuals that have lower income and expensive medications. EFFECTIVE JANUARY 1, 2023 The PAAD income eligibility limits for calendar year 2023 are: Less than $42,142 FOR A SINGLE PERSON Less than $49,209 FOR A MARRIED COUPLE The ... 2023 NJ PAAD Income Levels Released