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If you’re enrolled in Medicare and make above a certain amount of money each year, you’ll pay higher Part B (medical insurance) and Part D (prescription drug) premiums. This surcharge,known as the income-related monthly adjusted amount, or IRMAA, is based on your modified adjusted gross income (MAGI) from your tax…
To thrive on a fixed income, it’s important to make smart financial decisions — and the end of the year is a perfect time to prepare your finances for the future. While healthcare and health insurance are key, they’re parts of a larger financial picture. Taxes, investments, and required minimum…
If you are enrolled in Medicare Part A (hospital insurance) and Part B (medical insurance), you’re eligible for Medigap. Also known as Medicare Supplement, Medigap covers many out-of-pocket costs that Original Medicare doesn’t. There are 10 Medigap plans — A-D, F, G, K, and L-N — each letter providing standard…
If you’re planning a long-term vacation, traveling south for the winter, or have recently purchased a second home, you may be wondering if your Medical Supplement plan works in another state. The short answer is: yes. Medicare Supplement plans, also called Medigap, offer the same coverage at home and away.…
Did you know: Once you turn 73, you are required to make your first minimum withdraw from your traditional IRA. Even if you don’t need your savings for living expenses, you are still required by law to start taking out required minimum distributions (RMDs) by the following April 1 after…
The short answer is: Yes, the vast majority (over 90%) of non-pediatric hospitals in the U.S. accept Original Medicare. However, “Accepting Medicare” is not a simple yes-or-no checkbox. There are nuances involving provider networks, specific doctor contracts, and facility types (such as VA hospitals) that can leave patients with unexpected…
Have questions about Social Security and Medicare? Though they differ in benefits and eligibility, these two programs work together to provide you with financial security and healthcare coverage in your retirement years.
Here’s what you need to know about both programs, including eligibility, benefits and costs, and how you coordinate them.
Medicare Part A and Part B provide the exact same benefits for all Medicare beneficiaries throughout the country no matter their age or location. Why is it, then, that premiums for that coverage can vary greatly? High-Income Levels Mean Higher Premiums Higher premium rates apply to individuals who have incomes…
Centers for Medicare and Medicaid (CMS) have officially released changes to Medicare premiums and deductibles for 2026. The confirmed numbers are below. Medicare Part B Premiums and IRMAA for 2026 Medicare Part B is essential for medical coverage, and its standard monthly premium in 2026 is $202.90, around 18 dollars…
Original Medicare shares the cost of medical care with enrollees through deductibles, copayments, and coinsurance payments. With this cost-sharing structure, many people may worry about whether their coverage might run out — specifically, if their benefits are subject to a lifetime limit. In reality, the concept of a lifetime limit…
