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Category: Medicare and Social Security

Medicare’s Part B Premium Will Be Unchanged in 2018, But Many Will Pay More. Got That?

The announcement of the 2018 Medicare premium is good news for some beneficiaries and bad news for many others.  The good news is that the standard monthly Part B premium, which about 30 percent of Medicare beneficiaries pay, will again be $134 next year, unchanged from 2017. But most Medicare recipients pay a lower premium because they […]

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Now Is the Time to Review Your Medicare Options

Are you happy with your current Medicare plan or plans? Now is the time to think about whether you are in the right plan or whether a new plan could save you money. Medicare’s Open Enrollment Period, in which you can enroll in or switch plans, runs from October 15 to December 7. During this […]

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Three Likely Changes to Social Security in 2018*

Nearly two-thirds of retired workers rely on their Social Security benefit for at least half of their monthly income.  As compared to laws and rules governing other public programs, little has changed with the Social Security program over the last several years.  Even today with an estimated $11 trillion budgetary shortfall in the program, few […]

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Beware Medicare’s Penalties for Late Enrollment

People generally become eligible for Medicare at age 65, when they can receive benefits under Part A (hospital coverage), Part B (medical coverage) and Part D (prescription drug coverage).  But Medicare doesn’t want you to delay enrollment.  If only those who needed insurance signed up on time and healthier people waited, the healthy beneficiaries’ premiums […]

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What’s the Difference Between Medicare and Medicaid in the Context of Long-Term Care

Although their names are confusingly alike, Medicaid and Medicare are quite different programs. Both programs provide health coverage, but Medicare is an “entitlement” program, meaning that everyone who reaches age 65 and is entitled to receive Social Security benefits also receives Medicare. (Medicare also covers people of any age who are permanently disabled or who […]

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Look for a Small Increase in Social Security Benefits in 2017

Yes, you will receive more in Social Security Benefits in 2017. Sorry to say, though, it’s not much. Because the cost of living increased in 2016, by law Social Security benefits must increase to help offset this inflation. Unfortunately the cost of living increase was modest which means beneficiaries will only see a slight increase […]

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