Every September, the CMS mails out a hard copy handbook, Medicare & You. Around the same time, the annual avalanche of ads about Medicare Advantage plans arrives in your mailbox, on television, and on your social media feeds. These sales pitches escalate during the Open Enrollment season (October 15 – December 7). Every year, we prepare […]
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Why You Must Read This Year’s Annual Notice of Change for Medicare Plans
Every September, Medicare recipients receive an Annual Notice of Change for their Medicare Plans. That’s because every January, coverage and costs change. Whether you are enrolled in a Medicare Part D prescription drug plan or a Medicare Advantage plan, this letter contains the details on premiums, deductibles, and co-pays from 2024 and what’s coming in […]
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What is the Purpose of a Promissory Note in Medicaid Planning?
Medicaid planning is often a complex process aimed at preserving a person’s assets while qualifying for Medicaid benefits. Finding a way to pay for long-term care costs without depleting all your hard-earned assets is a key part of Medicaid planning. One strategy for protecting assets and qualifying for Medicaid that has gained attention in recent […]
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Medicare Season is Nearly Here – Are You Ready?
Did you know that nearly 34 million Americans are enrolled in Original Medicare? And nearly 32 million are enrolled in Medicare Advantage. So, when changes are made to Medicare, we think it’s important you know what’s coming next. We call it “Medicare Season,” the time of year when people who are enrolled in Medicare have […]
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MEDICARE DRUG PLAN ADVISORY: Upgrades May Require Action for 65+ Wage Earners with Employee Prescription Plans
If you’ve delayed signing up for Medicare prescription drug coverage (Part D) because you’re still working and have health insurance through your employer, you must know about some changes that may affect your budget in 2025. Working people who qualify for Medicare sometimes delay applying, which is fine if you meet the requirements. Your employer’s […]
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2025 Medicare Advantage Rates Are Finalized: Health Insurance Company Stocks Respond
On April 1, the Centers for Medicare & Medicaid Services (CMS) finalized the Calendar Year 2025 Rate Announcement for Medicare Advantage and Medicare Part D Prescription Drug Programs to update payment policies for these programs, according to a press release from CMS.gov. Payments to the government will increase an average of 3.70 percent from 2024 […]
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2024 Bringing Big Savings for Medicare Patients Relying on Expensive Drugs
There is good news for Medicare recipients in 2024 who count on costly prescriptions. The Inflation Reduction Act passed in 2022 puts an annual ceiling of $3,300 in 2024 for Part D drugs. The number could shift slightly depending on whether they take brand-name or generic medications. In 2025, the news is even better: the […]
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Seniors Beware – Medicare (dis)Advantage Plans – Part Two.
If you’re not worried about your Medicare Advantage plan, a recent article from The Washington Post, “Hospitals and doctors are fed up with Medicare Advantage,” might motivate you to check on your Medicare plan before the open enrollment period ends – next Thursday, December 7. While Medicare Advantage plans have about 31 million members (nearly […]
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Seniors Beware – Medicare Advantage Plans – Part 1
Seniors who sign up for a Medicare Advantage plan may find themselves in a world of trouble – the complete opposite of what they expected. Once you turn 65, you are eligible to sign up for health coverage under Medicare. You can choose traditional Medicare (Parts A, B, and D) or Medicare Advantage (Part C). […]
Continue reading…Stephen J. Silverberg Speaking at Nassau County Bar Association on November 17th.
Seniors aren’t the only ones who find Medicare options confusing. On Friday, November 17, Stephen J. Silverberg will present “Medicare Supplement vs. Medicare Advantage,” a program examining the different programs to help attorneys better assist their eligible senior clients. The program, a joint meeting of the Senior Attorney and Elder Law, Social Services, and Health […]
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