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Medicare premiums will increase in the year 2017
For many Americans, Medicare premiums will increase in the year 2017. On New Year’s Day, 2011, the first baby boomers celebrated their 65th birthdays. Baby boomers are the 77 million Americans born between the years, 1946 and 1964. Since that first day of 2011, baby boomers have been turning 65 at a rate of 10,000 per day, and that daily rate will continue until the year 2030. What’s that got to do with Medicare premiums in the year 2017? The difference between the benefits promised and the taxes actually being paid into Medicare is already...
read moreMedigap and traveling
Medigap polices may offer additional coverage for health care supplies or services that you will receive outside of the United States. Standard Medigap Plans C, D, F, G, M, and N will provide foreign travel emergency medical coverage when traveling outside the U.S.A. Plans E, H, I and J are no longer for sale, however; if you purchased a plan before June 1, 2010 you may keep it. All of these plans also provide foreign travel emergency health care services when you travel outside the U.SA. Medigap Coverage Outside the U.S. Medigap Plans C, D,...
read moreLosing or dropping Medigap Plans
If someone wants to drop his or her Medigap policy, they must contact their insurance company to cancel. If you are losing Medigap insurance, in most cases, your Medigap insurance company cannot drop you because the Medigap policy is guaranteed renewable policy. This means your insurance company cannot drop you unless one the following occurs: The insurance company becomes bankrupt or insolvent You stop paying your premiums You were not truthful on your Medigap policy application If you purchased your Medigap policy before 1992, if might not...
read moreMillions will be facing huge Medicare premium Increase
About 15 million people are likely to face a significant Medicare premiums. This means three in ten people will be hit with a 25% increase for Medicare Part B and that 70% of people with Medicare will be exempt from paying. Under laws, Medicare premiums cannot be issued for most older adults and those with disabilities if his or her Social Security benefits do not increase. However, those people who are enrolling in Medicare for the first time, or have income-adjustments Medicare premiums, or have Medicaid or Medicare, can face premium...
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