New Medicare Rates for 2022 – November 15, 2021 Meeting

How we are fine-tuning and adding automation to help with clients screening.
See this internal office meeting video below:

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October 12 2020 Medicare Updates

October 12, 2020  Office Meeting Notes under the video. A TON COVERED HERE! To see more of our office meetings, click here.   See the video: <[email protected]@> (There are Chapter Markers at the bottom of the Video Window. You can…

     


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2016 Medicare Part B Premium and Deductible Update

This was the update going from 2015 to 2016: Update since the video.. the 2016 budget deal will make the Part B deductible $166 for all. Updates since the update: The 2017 Part B deductible is $183. Action from seniors,…

     


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2016 Changes in Medicare

The Medicare Trustee report is expected to be implemented January 1, 2016, which calls for increases both in the Part B premiums paid monthly by seniors and the Part B deductible. See how this is expected to be implemented and…

     


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Potential Changes to Part B

The recent report by the Medicare trustees is currently being evaluated by HHS Secretary Sylvia Burwell, who is expected to make a final decision October 2015 to impact Medicare beneficiaries in 2016.

The trustees recommend increasing Part B premiums charged to seniors monthly some 52% starting in January 2016. This would mean going from $104.90 to $159.30.
The report states that this would impact 30% of all Medicare beneficiaries and would be again tied to their income, targeting those with incomes over $85,000.

The other, more impactful recommendation is a change to the Part B deductible to $223 instead of the current $147. This would impact ALL Medicare beneficiaries and is sure to cause outrage by the senior lobbyists on K street. There will be much pushback to such an increase.

CSG Actuarial is analyzing the impact on carriers and on seniors with Plan F and Plan G. The initial analysis is that the Plan F rates will, after accommodating for the higher built-in cost in the premiums of Plan F which will absorb the new Part B deductible, need to increase 4% due to more claims. Plan G, however, would see less claims and actually justify a rate reduction. How carriers would choose to implement the change is still up in the air.

 

Part B Deductible History

We will continue to monitor this recommendation's impact on seniors and whether or not it will be adopted.

Stay tuned!

-Chris Westfall

Medicare Supplement Training