Hello From Your Medicare Insurance Agents,

Will Your Social Security Go Up 8% in 2023?

Maybe. How much of a cost of living increase you get depends on inflation. There is a lot of time left in the year before the official COLA increase will be final. Until then, the media needs you to click on their articles and tune into their TV shows, but it's just click bait for now. It's usually not until November when we know how much your Medicare Part B will go up too.

Thinking About Remarriage, But...

If you qualified for Medicare on your own work history, divorce and remarriage don't matter.

If you qualified for Medicare on your ex spouse's work history, you can't claim Medicare until you are at least 65 and your ex is 62. Remarriage won't impact your Medicare, but remarriage will prevent you from drawing Social Security benefits off your ex. Once you remarry, you must wait only 1 year to be able to draw Social Security off your new spouse. Most people are afraid to remarry because they think it takes 10 years to qualify. Please pass this info along to your friends--and spread the good news.

Mark Cuban's Low Cost Drugs

This billionaire is offering over 100 medications with "only" a 15% markup. If you use this site, it will not count toward your Medicare Part D drug plan. At this point, the savvy consumer is getting their mediations from a variety of places to maximize their savings. GoodRx, Canadian pharmacies and pharmaceutical assistance programs offered by the drug makers.

If You Don’t Use Your Part D, Should You Cancel It?

No! Many people are getting their rx cheaper by NOT using their Medicare Part D drug insurance. Why spend $10-$30 per month on a plan you are not using? Because illness and injury might be around the next corner, insurance is for the unknown. There might be a $2000 per month drug in your future--and you will want to have good insurance to help you with the cost. If you drop Part D, you have to wait to get it back, it isn't instantly available. You will also incur a late penalty! You'll pay the penalty every month for the rest of your life. If you are not using your Part D insurance, call us about moving to a lower monthly premium plan for 2023. You can't choose a new plan until October 15th and it won't begin until January 1. Before you consider dropping Part D or any insurance, please call us first.

5 Common Questions

Once I sign up for Medicare Part B do I have to renew it annually? No. It will continue forever (unless you ask to drop it). The price will increase each January, but we won't know the 2023 prices until November.
Will Medicare take your home? No, but Medicaid might. Medicare pays for very little of a nursing home stay. Once you run out of your own funds, Medicaid will pay for your nursing home. Some states go after the home, while most others don't (yet).
Will my kids have to pay my hospital bills? Only if they sign agreeing to be responsible for your bills. While the hospital might try to get them to sign, they have no legal duty to do so.
Will Medicare cover dental implants? No. Original Medicare A & B that you get from the government does not cover any dental. Nothing. Nada. All the ads you may have seen on TV are from private Medicare Advantage plans. There may be a plan in your area that offers some dental. Keep in mind that MAPD plans change each year so if there wasn't a good plan in your area last year, that may change for 2023. Similarly, your MAPD plan's dental benefit may degrade in 2023. Change can be good or bad, we won't know what 2023 plans look like until October 1st.. If you are interested in a stand alone dental plan, you can keep your Medicare Supplement plan and purchase a dental plan.
If I move to another state, do I need to change my Medicare insurance? You will always need a new Part D drug plan, but you may not need to change your health plan. Call us BEFORE you move and we can advise you.

"My Medicare Supplement went up 10%, I hate _____ insurance company!"

We are hearing this more and more and while we don't like to defend the insurance companies, this is a factor of inflation that will hit every insurance company.

Your friend's plan may not have taken as large of a rate increase, but it could make up for it next year. In general, drugs are going up faster than other parts of your healthcare.

Waiting On Hold for Social Security?

If you need to contact SSA, prepare for a long wait. While their 1200 local offices did reopen this spring, they are taking months to get an appointment. The COVID backlog coupled with budget cuts for the past years has SSA very understaffed!

They also go rid of all the local phone numbers so everyone is routed through to the national 800#. If you get an answer from SSA that doesn't sound correct, call back and see if you get the same answer again.

Unfortunately, this is a tough time to get good service and we have more people than ever in need of help from the SSA. If you move--be sure to report you new address. You can do this online, but it isn't easy.

Contact Our Team For an Appointment

It's easy to call and let my team determine if you need to make any changes to your Medicare insurance.

Prices never go down! It pays to give us a call to see what has changed with your health and see if your are still on the right plan.

Robert Mooney

Premier Planning Services, Ltd.

[email protected]

(567) 201-5617