Take a look at recent Medicare news. Remember, the more information you have about Medicare, the better prepared you’ll be to ask the right questions.
Late enrollment penalties
Medicare has penalties for late enrollment and not everyone knows about them. You’ll take the hit if you sign up for Medicare after your initial enrollment period* — three months before you turn 65 until three months after. Not knowing this is costing American seniors tons of money. A proposed bill would warn people about these fees before it’s too late. *Note: This is not the same as Medicare Advantage’s annual open enrollment period. Confusing the two can have financial consequences. Read my October issue for detailed information,.
Negotiating drug prices
In his March 1 State of the Union address, President Biden again challenged Congress to allow Medicare to negotiate drug prices. The insurance industry does, so why not the country’s largest and most cost effective public insurance plan? Hint: the insurance industry is against it.
Medical debt
Research by the Consumer Financial Protection Bureau (CFPB) reveals that a big chunk of debt reported by credit reporting agencies is medical debt. Getting seriously ill is bad enough, but incurring massive debt as a result makes things worse. Now the CFPB is considering a ban on including medical debt in credit reports.
Expanded lung-cancer eligibility for Medicare recipients
Corporate welfare is when private business uses public money to cut their health-care costs and up their profits
“Employers and insurers negotiate behind closed doors to design a private Medicare Advantage plan available only to retirees from that employer.” And your tax dollars foot the bill.
Medicare fraud
Each year Medicare looses billions due to fraud, and that’s just the stuff we know about.
Long Island doctor pleades guilty to Medicare billing fraud.
Medicare privitization - the backlash
In the most recent issue I wrote about former President Trump’s sneaky attempt to privatize Medicare, and President Biden’s support of the same disaster. Read about the backlash.
At the mercy of big insurance
This heart-breaking essay in the Washington Post is another illustration of what happens when medical care is left to the Big Insurance.