If you're on Medicare, chances are you had a bit of a shock when hearing the 2022 Medicare Part B premium amount. It went up from $148.50 in 2021 to $170.10 in 2022. That's a 14.5% increase, and is one of the steepest increases in Medicare's history. So why was there such a significant increase, particularly when there was only a $3.90 increase between 2020 and 2021? The answer … [Read more...] about Why Did Medicare’s Part B Premium Rise 14.5% in 2022?
Proposed Rule Would Lower Part D Drug Costs, Increase MA Plan Oversight & More
Earlier this month, the Centers for Medicare and Medicaid Services issued a proposed rule with needed and welcomed changes for Medicare Advantage and Part D plans. Some of the changes include: lowering Part D out-of-pocket costs for beneficiaries starting January 1, 2023, increasing marketing oversight and holding plans accountable for misinformation - including information … [Read more...] about Proposed Rule Would Lower Part D Drug Costs, Increase MA Plan Oversight & More
Don’t Believe the Lies ~ Medicare Drug Negotiations Savings Would Be ReInvested for More Medicare Benefits
Much to pharmaceutical companies' benefit, Medicare has been barred from negotiating for the lowest drug prices when paying for the Part D prescription drug benefit. This translates to unnecessarily higher costs for both beneficiaries and Medicare. Currently both the House and Senate are looking at various proposals that would give Medicare drug price negotiation power. One is … [Read more...] about Don’t Believe the Lies ~ Medicare Drug Negotiations Savings Would Be ReInvested for More Medicare Benefits
Most People Don’t Review Their Medicare Coverage Options
Did you know that during Medicare's Open Enrollment, most older adults don't review their plan changes for the new year, or look at other options for coverage? This leaves many surprised by changes they can't afford. Yikes - Let's change this trend! Medicare's Open Enrollment is Oct 15 through Dec 7, and it is one of the few times people with Medicare can review their … [Read more...] about Most People Don’t Review Their Medicare Coverage Options
Outdated Rule Increases Medicare’s Annual Generic Drug Costs by $26 Billion
Most people agree that the price of brand name drugs in the U.S. is astronomically high. Yet with 90% of prescriptions filled being generic drugs, not many are paying attention to how overpriced these drugs are, depending on where you buy them. "The difference between the highest and lowest price being charged for the same generic drug is so large that many billions of … [Read more...] about Outdated Rule Increases Medicare’s Annual Generic Drug Costs by $26 Billion
