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On Medicare and need therapy? Good luck (sigh)

 “Therapy on Medicare isn’t easy to find” is the title of Andrea Petersen’s article  (11/17/21) in The Wall Street Journal. Briefly… many patients age 65 and older are out of luck when needing therapy due to the very few practitioners who accept Medicare reimbursement. “The reasons therapists decide not to participate in Medicare are similar…

Home Modifications Covered by Medicare and Medicaid

“Walk-in tubs, hospital beds and wheelchair ramps are among the many home modifications and devices keeping seniors safe. They don’t come cheap, but government programs such as Medicare and Medicaid can defray the cost.” “Medicare is extremely strict about what it covers, but seniors who show medical necessity qualify for up to 80% coverage. Seniors…

Understanding the different parts of Medicare

Three Key Medicare Decisions “While not an overly complicated benefit, initially signing up for Medicare can be an overwhelming and anxiety-inducing process” according to John S. Traynor | Jun 16, 2021 quoting from his article: https://www.wealthmanagement.com/retirement-planning/three-key-medicare-decisions Part A (hospital coverage) covers things like inpatient hospital stays, some home health care, skilled nursing facility care and hospice; requires…

2021 Medicare Premiums

 In 2021, Higher Medicare premiums will apply for individuals with modified adjusted gross income above $88,000; for married couples who file a joint tax return, that amount is $176,000. These higher premiums affect only about 8% of beneficiaries.  Most Medicare participants will pay $148.50 per month per person. Source: Financial Planning for Women

Traditonal Medicare or Medicare Advantage? Resources to help decide

When signing up for Medicare you need to decide between traditional Medicare (and a supplemental plan) and Medicare Advantage Plan (offered by private insurers) that often come with prescription drug benefits (90%).Medicare Supplement Insurance (Medigap) can pay most of the 20% costs Original Medicare doesn’t cover, plus some other costs. Many people with Original Medicare…

Understanding Medicare and Social Security

A great resource for understanding the basics of Social Security and Medicare Writing for USNWR, Rachel Hartman explains: How Social Security and Medicare Work Together  “Social Security and Medicare are social safety programs that Americans pay into during their working years through taxes. Both are designed to assist older Americans and distribute benefits to the…

What will Medicare cost me in retirement?

“Health care inflation has been running about double the rate of general inflation.”  “The standard monthly premium for Part B (outpatient services) this year is $135.50; Medicare’s trustees forecast annual increases averaging 5.9 percent through 2028. Enrollees in traditional Medicare can expect inflation of 6 percent if inflation for Medigap premiums is included.” “According to…

Medicare Part B cost going up

According to The Wall Street Journal (4/23/19) the cost of Medicare part B premiums for 2020 will likely increase $8.80/month from $135.50 to $144.30. The previous increase was from $134 in 2018.While Medicare part A that covers hospitalization is usually free for most Americnas 65 and older, Part B charges a monthly premium that ranges…

The Medicare Debate

Health care is sure to be one of the focal points of the 2020 presidential election. While Trump is proposing substantial cuts to Medicare, Democrats are promoting variations on “Medicare for all” ranging from allowing persons 50 and older to buy into Medicare with annual premiums to more extensive plans to promote universal access to…

Tax cuts = Massive federal deficit

“The federal government spent $310 billion more than it took in during the first four months of the new fiscal year, a 77 percent jump from the same period a year ago” and the tax cuts are primarily to blame according to the Washington Post. How many times have you heard politicians say that budgets…