Hoffman Insurance & Retirement Planning, Inc.

08/01/2023

Medicare Part B premiums may increase in 2024, prompted by a new Alzheimer’s treatment...

A new Alzheimer's treatment will prompt higher Medicare costs, experts predict. Here's how beneficiaries may pick up some of the tab.

10/07/2022

“Each year the Medicare Part B premium, deductible, and coinsurance rates are determined according to the Social Security Act. The standard monthly premium for Medicare Part B enrollees will be $164.90 for 2023, a decrease of $5.20… The annual deductible for all Medicare Part B beneficiaries is $226 in 2023, a decrease of $7… “

On September 27, 2022, the Centers for Medicare & Medicaid Services (CMS) released the 2023 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs, and the 2023 Medicare Part D income-related monthly adjustment amounts. Medicare Part B Premium and Deductible

07/28/2022

"The U.S. Congress is considering an important step in this direction with a proposal aimed at containing prescription drug prices. The proposed legislation would empower Medicare for the first time to negotiate the price of some high-cost drugs with their manufacturers."

U.S. seniors tell pollsters that high inflation is one of their top worries - and that makes sense. Aside from Social Security, which is adjusted annually to reflect consumer prices, retiree income is fixed. Policymakers have talked over the years about making the Social Security cost-of-living (COL...

05/21/2022

A bipartisan measure that’s pending in the House could modify the way health savings accounts interact with Medicare. If passed the bill will allow Medicare recipients to save pre-taxed dollars in their Health Savings Accounts.

While a bipartisan House bill would let Medicare enrollees contribute to health savings accounts, it also would eliminate a couple of current HSA benefits.

04/18/2022

CMS is announcing a final Medicare national coverage determination (NCD) that covers Food and Drug Administration (FDA) approved monoclonal antibodies directed against amyloid for the treatment of Alzheimer’s disease (AD) when furnished in accordance to the Coverage Criteria specified here... (Click Link Below)

CMS is announcing a final Medicare national coverage determination (NCD) that covers Food and Drug Administration (FDA) approved monoclonal antibodies directed against amyloid for the treatment of Alzheimer’s disease (AD) when furnished in accordance to the Coverage Criteria specified below under ...

04/06/2022

Tax Guy is here to explain Medicare health insurance premiums and your taxes

04/05/2022

People on Medicare are now able to get up to eight free COVID-19 tests per month at participating pharmacies, the Biden administration announced Monday. The move comes after a similar initiative launched in January for people with private insurance, in response to the surge in demand for testing due...

10/21/2021

Social Security & Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 5.9% in 2022.

2020 Press Releases

10/20/2021

The late enrollment penalty for Part D applies to people who do not have “creditable drug coverage” for 63 days.

The penalty is approximately 1% of the national base beneficiary premium for every month someone goes without drug coverage. In 2021, that base premium is $33.06. This penalty lasts throughout a beneficiary’s coverage.

These common misunderstandings could cost you

10/19/2021

U.S. News & World Report released the 2022 Best Insurance Companies for Medicare Advantage and Part D Prescription Drug Plans. The new ratings are a resource for Medicare beneficiaries searching for the best coverage options during the annual open-enrollment period, which began October 15 and runs through December 7, 2021...

US News is a recognized leader in college, grad school, hospital, mutual fund, and car rankings. Track elected officials, research health conditions, and find news you can use in politics, business, health, and education.

10/19/2021

"71% of beneficiaries don’t explore their coverage options during this time, according to a new Kaiser Family Foundation study and as reported by CNBC. Medicare benefit details can change, so not taking the time to review your options could be a costly mistake."

How well does your Medicare plan cover the services that you need? Medicare open enrollment begins Oct. 15 and continues through Dec. 7; however, 71% of beneficiaries don't explore their coverage...

10/11/2021

​During open enrollment you may want to consider these options if you have diabetes, heart disease, kidney disease or other long-term conditions.​