This Week in Medicare: Today’s Top Stories!

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retirement medicare problems savings money

Are we facing a retirement crisis?

Every generation faces challenges when it comes to funding retirement, but this time, a number of different challenges are all coming together at once. First, the baby boomers are beginning to transition in large numbers from work to retirement, putting an unusually severe strain on Social Security and Medicare. Second, workers of all ages are lagging behind on where they should be with regards to their savings, meaning that when they retire, they’ll be even more dependent on Social Security then past retirees. (read more)

The hidden costs of federal health plans

Did you know that more than 25 percent of total spending under the Federal Employees Health Benefits Program goes to prescription drugs? Rising drug prices and increasing drug utilization continue to drive up FEHBP premiums(read more)

Budgeting for retirement? Expect a hefty health care bill

The analysis assumes that the 65-year-old couple will be retired for 22 years and pay for typical Medicare coverage, known as Part B, and typical Medicare drug coverage, known as Part D. Neither is free. Currently, the average premium people pay for Medicare is $134 a month. This year, the Medicare board of trustees had anticipated a decrease, but instead premiums rose 10 percent after rising 16 percent in 2016, a HealthView report said.

The costs don’t end with Medicare, however. Medicare doesn’t cover all health care costs, so retirees also must buy supplemental insurance. There are also deductibles and co-pays. (read more)

The new Medicare Plus Card saves you up to 75% on things not covered by Medicare

Medicare doesn’t cover everything. Luckily, those on Medicare can now start saving on out of pocket expenses like prescription drugs, dental, vision, hearing, and more. Over 1 million people have already received their free Medicare Plus Card.

Get your Free Card Here

 

Medicare World Editorial Team
The Medicare World editorial team works diligently to make sure our stories are informative, unbiased, and of utmost relevance to our readers. Our team of researchers and writers presents the best and latest information on all things Medicare, including legislation, enrollment rules, changes in coverage and costs, and health information. We enjoy keeping our readers up-to-date and helping them navigate the often-complicated Medicare maze.

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