I woke up this morning and checked my e-mail, and found out that the new Medicare Part B deductible this year is $155. They certainly were able to tell the seniors that they were not going to get a COL increase this year, they were able to tell us the Part A deductible not that it matters to senior much, but they could not tell us at the same time last month about the Part B increase deductible. WOW this is insane.
Anyone know what the 2010 low income subsidy income/saving levels are? Hopefully they'll go up for 2010 so more people will qualify for assistance on prescriptions
anyone know what the 2010 low income subsidy income/saving levels are? Hopefully they'll go up for 2010 so more people will qualify for assistance on prescriptions
Since there is no cost of living increase for next year, the number should stay the same. I haven't seen that officially yet, but, that's what I was told by a CMS rep.
Its only a $20 increase per year...not that much IMO
It may not be that much for those seniors that have Plans C, F and for now J, but the rest of the seniors that have to pay the deductible and has to count every penny each month it may be since they do not get the COL raise. I know in the overall scheme of things it isn't much, but there is already so much that they may be losing in the long run that they should of kept the deductible the same until the seniors get the COL raise. Just my opinion.
To coin a phrase that Obama likes to use, "Let me be clear" that the increase does not affect about 75% of those who are currently on Medicare. As jdeasy stated, because there was no increase in the Social Security benefit for 2010 there will be no increase in the Part B premium ($96.40). There is a "hold harmless" clause in the law that prevents an increase in the Part B premium unless there is a concomitant increase in the SS COLA benefit. The SS cost-of-living benefit was not increased because that increase is tied to the CPI and the CPI was held down by the recession. Thus, mostly only new Medicare recepients in 2010 will be affected by the increase and will pay $110.50 per month (a 15% increase). However, if a Medicare recipient has his/her Part B paid by their state (Medicare Savings Program - MSP), that state payment to Medicare will be subject to the increase. Another class of recipients that will be affected is high-income beneficiaries, i.e., those whose Modified AGI is greater than $85,000 for individuals or $170,000 for couples (in 2009) will have the increased premium deducted from their Social Security benefit. For the high-income beneficiiaries the new premium range is $154.70 to $353.60 (details are avaiable on the Medicare.gov - The Official U.S. Government Site for People with Medicare website).
Actually that is an incorrect statement.
2010... $155
2009... $135
2008... $135
2007... $131
2006... $128
2005... $12??
I'm lost after that.
I am saying $20 more per year for the client. As in, if the client has D plan he will have to pay the yearly deductible, which resets every year....Im not saying the yrl. ded. goes up $20 per year
I am saying $20 more per year for the client. As in, if the client has D plan he will have to pay the yearly deductible, which resets every year....Im not saying the yrl. ded. goes up $20 per year
The $20 itself isn't necessarily such a big deal, but when you take a look at the total picture it's concerning. They're paying over another $160/year in part b premium ($13.60X12), hospital deductible is up, weaker benefits from MA plans (which may make original Medicare look better) and no cost of living increase. According to the Kaiser Family Foundation, seniors on original Medicare were less likely to get routine care when the deductible was only $100 and the part b premium was less than $70. BTW-, this was only about 5 years ago.
The $20 itself isn't necessarily such a big deal, but when you take a look at the total picture it's concerning. They're paying over another $160/year in part b premium ($13.60X12), hospital deductible is up, weaker benefits from MA plans (which may make original Medicare look better) and no cost of living increase. According to the Kaiser Family Foundation, seniors on original Medicare were less likely to get routine care when the deductible was only $100 and the part b premium was less than $70. BTW-, this was only about 5 years ago.
I know, but I was just commenting on the part b ded. I usually sell the F plan anyways so I don't see it to be a problem.
I know, but I was just commenting on the part b ded. I usually sell the F plan anyways so I don't see it to be a problem.
From the perspective you're talking about, it's not a problem except that premiums will probably go up a couple of bucks (if that) to reflect the larger gap they're filling; at the end of the day I don't think that's much of a concern. From the larger social perspective it's going to keep seniors from going to the doctors which is a problem. If someone is not on a med supp because they can't afford it they are also less likely to seek preventive care and with a $150 deductible the beneficiaries will feel like they're basically going to pay the full cost of their doctors visit which is a problem this administration should be more concerned about. Again, for any of the folks you sell a plan F it'll be at most a negligible change.
Well They Took Their Sweet Time
They certainly were able to tell the seniors that they were not going to get a COL increase this year, they were able to tell us the Part A deductible not that it matters to senior much, but they could not tell us at the same time last month about the Part B increase deductible. WOW this is insane.
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