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2016 Medicare costs

2016 Medicare costs at a glance Detailed Medicare cost information for 2016 Collapse Medicare Part A (Hospital Insurance) Monthly premium (for people who pay a premium): If you buy Part A, you’ll pay up to $411 each month. Hospital inpatient stay $1,288 deductible for each benefit period. Days 1–60: $0 coinsurance for each benefit period.

CMS announces 2016 Medicare Part B deductibles will remain relatively ‘flat’

Yesterday, CMS announced the 2016 premiums and deductibles for the Medicare physicians and outpatient hospital services (Part B) program. •Because there will be no Social Security cost of living increase for 2016, by law, most people with Medicare Part B will be “held harmless” from any increase in premiums in 2016 and will pay the same monthly premium as last year, which is $104.90, according to a prepared statement from CMS.

Federal Poverty income guidelines for subsidies

2014 Federal Poverty Level Chart* The Department of Health & Human Services (HHS) issues poverty guidelines for that are often referred to as the “federal poverty level” (FPL). Federally-facilitated Marketplaces will use the 2014 guidelines when making calculations for the insurance affordability programs starting November 15, 2014. These numbers impact how much if any subsidy money that you can get to help you with your healthcare premiums on the marketplace.

Special Election Periods for 2015 ACA plans ( Affordable Care Act)

Special Enrollment Periods  ( SEPs) for Marketplace Plans .aka Obamacare   Under certain circumstances, individuals may enroll in a Qualified Health Plan or change Qualified health Plan outside of the annual open enrollment period or AEP. These Special Election Periods or SEPs are based on certain triggering events or special circumstances. Events that permit an SEP include: Gaining or

Baby Boomers Turning 65 in droves

Baby boomers turning 65 In 2011, the first of the baby boomers reached what used to be known as retirement age. And for the next 18 years, boomers will be turning 65 at a rate of about 8,000 a day. As this unique cohort grows older, it will likely transform the institutions of aging —

Some things you should know about long term care insurance

Some things you should know about Long Term Care insurance It has been in the forefront of my mind for years now. My mother-in-law has been in a memory care unit in a facility for a few years now suffering from the debilitating effects of Alzheimer’s disease. What happens when I get to the point

Medicare Advantage Plan Changes

CSG Actuarial’s review of the 2015 Medicare Advantage (MA) plan data released by CMS last week revealed 7,214 new plan/county combinations and the non-renewal of 8,636 plan/county combinations from 2014 to 2015.  This will impact a total of over 1.86 million enrollees, who will be searching for other coverage options and generating sales opportunities for both

Medicare costs at a glance for 2015

Monthly premium (for people who pay a premium): If you buy Part A, you'll pay up to $426 each month (reduced to $407 in 2015). Most people get premium-free Part A. Late enrollment penalty: If you don't buy it when you're first eligible, your monthly premium may go up 10%. (You'll have to pay the higher premium for twice the number of years you could have had Part A, but didn't sign up.) Learn more about the Part A late enrollment penalty. Part A costs if you have Original Medicare Note All Medicare Advantage Plans must cover these services. If you're in a Medicare Advantage Plan, costs vary by plan and may be either higher or lower than those in Original Medicare. Review the "Evidence of Coverage" from your plan. Home health care $0 for home health care services. 20% of the Medicare-approved amount for durable medical equipment. Hospice care $0 for hospice care. You may need to pay a copayment of no more than $5 for each prescription drug and other similar products for pain relief and symptom control while you're at home. In the rare case your drug isn’t covered by the hospice benefit, your hospice provider should contact your Medicare drug plan to see if it's covered under Part D. You may need to pay 5% of the Medicare-approved amount for inpatient respite care. Medicare doesn't cover room and board when you get hospice care in your home or another facility where you live (like a nursing home). Hospital inpatient stay $1,216 deductible for each benefit period ($1,260 in 2015). Days 1–60: $0 coinsurance for each benefit period ($0 in 2015). Days 61–90: $304 coinsurance per day of each benefit period ($315 in 2015). Days 91 and beyond: $608 coinsurance per each "lifetime reserve day" after day 90 for each benefit period (up to 60 days over your lifetime) ($630 in 2015). Beyond lifetime reserve days: all costs. Note You pay for private-duty nursing, a television, or a phone in your room. You pay for a private room unless it's medically necessary. Mental health inpatient stay $1,216 deductible for each benefit period ($1,260 in 2015). Days 1–60: $0 coinsurance per day of each benefit period ($0 in 2015). Days 61–90: $304 coinsurance per day of each benefit period ($315 in 2015). Days 91 and beyond: $608 coinsurance per each "lifetime reserve day" after day 90 for each benefit period (up to 60 days over your lifetime) ($630 in 2015). Beyond lifetime reserve days: all costs. 20% of the Medicare-approved amount for mental health services you get from doctors and other providers while you're a hospital inpatient. Note There's no limit to the number of benefit periods you can have when you get mental health care in a general hospital. You can also have multiple benefit periods when you get care in a psychiatric hospital. Remember, there's a lifetime limit of 190 days. Skilled nursing facility stay Days 1–20: $0 for each benefit period ($0 in 2015). Days 21–100: $152 coinsurance per day of each benefit period ($157.50 in 2015). Days 101 and beyond: all costs. expand iconMedicare Part B (Medical Insurance) expand iconMedicare Part C (Medicare Advantage) expand iconMedicare Part D (Medicare prescription drug coverage) These are the basic costs for people with Medicare. If you want specific cost information (like whether you've met your deductible, how much you'll pay for an item or service you got, or the status of a claim), visit MyMedicare.gov.

Are Alzheimer’s Caregivers the Forgotten?

Forty percent of Alzheimer's caregivers end up suffering from depression -- four out of ten. Do you want to see this happen to a loved one or friend? Alzheimer's is a sinister disease--it kills the brain of the person suffering from Alzheimer's. And, it will try to kill the brain of the Alzheimer's caregiver.