Retirement comes with its own set of questions and things to look out for, especially with health insurance coverage for individuals who are eligible for Medicare. Retiree insurance coverage offered by a former employer or a retiring spouse’s employer is not a mandatory benefit, and the sponsoring employer may change premiums and benefits or cancel the plan entirely based on their internal needs. If you have group insurance from a retiree plan along with Medicare coverage, Medicare provides primary coverage and your employer-sponsored insurance is secondary. You are, however, responsible for the premiums on your retiree group plans and your Medicare coverage. The cost and coverage varies from company to employee, depending on which package is offered.
Title: 2017 Medicare Parts A & B Premiums and Deductibles Announced
2017 Medicare Parts A & B Premiums and Deductibles Announced
Today, the Centers for Medicare & Medicaid Services (CMS) announced the 2017 premiums for the Medicare inpatient hospital (Part A) and physician and outpatient hospital services (Part B) programs.
Medicare Part B Premiums/Deductibles
Medicare Part B covers physician services, outpatient hospital services, certain home health services, durable medical equipment, and other items.
We have all had a shock effect when going up to a checkout counter. Sometimes an item is not on sale as we had originally thought, and other times the price had simply increased, leaving us with the decision whether or not to continue with the purchase. However, when the item is a necessary prescription drug, we do not always have the option not to make the purchase.
Generic drugs typically cost 30% to 80% less than the comparable branded drugs. However, generic drugs are seeing sudden and dramatic price increases. For example, a cholesterol lowering prescription bottle of Pravastatin that was normally $27.00 has increased to $196.00. For many that depend on this medication on a regular basis, this causes a huge financial hardship.