BY JUDI KANNE: U.S. law prohibits the government from negotiating Medicare prescription drug prices. But some people want that changed. Out-of-pocket costs for some specialty drugs under Medicare can run from $4,000 to more than $11,000 per year, while the median income for Medicare beneficiaries is less than $26,200 a year. (read more)
BY STEPHEN OHLEMACHER: Today, the trustees who oversee Medicare and Social Security are scheduled to issue their annual warning about the finances of the federal government’s two largest benefit programs. Neither Social Security nor Medicare faces an immediate crisis. But the trustees warn that the longer Congress waits to address their long-term problems, the harder it will be to sustain the programs without significant cuts in benefits, big tax increases or both. Last year, the trustees said Social Security had enough money in its trust funds to pay full benefits until 2034. They said Medicare’s trust fund for inpatient care would be exhausted in 2028. (read more)
BY HOWARD GLECKMAN: The Bipartisan Policy Center, a Washington (DC) based group that develops consensus policy solutions, has proposed a series of reforms aimed at helping families finance long-term care for themselves and their loved ones. The proposal aims to encourage more people to buy private long-term care insurance, including through Medicare, and would provide a new Medicare respite benefit for family caregivers. (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.