Is Medicare Primary or Secondary? Medicare is the primary policy of all people as long as the insurance covers you. Whenever implementing a different form of insurance there is planned coordination between benefits. The coordinator of benefits decides which forms of coverage are primary and which types are secondary. Primary insurance will be paid first, […]
Can Medicaid take your home after death? How will Medicaid care for elderly residents after their deaths? Typically, it can affect adults or children of an elderly worker whose applications need assistance. Because houses are the greatest assets most people have, they have lots of valuable things that children can inherit. What is Medicaid going […]
Medicare Income Limits: How Income Affects Your Costs in 2022 The Medicare plans are changed each year. The Medicare program is open to anyone over 55, if they have an income. Depending on how much you earn you will have to pay more to receive the Medicare benefits even when the benefit is not changing. […]
Is Medicare tax-deductible? Suppose a person is eligible for Medicare but doesn’t qualify for a Medicare benefit. I'll answer it with yes. Medicare premiums may also be tax-deductible if the amount exceeds certain limits. In particular, the Medicare deductible expenses can be only reduced for individuals if their annual income exceeds 7.25%. If your qualifications […]
If you like most Americans, there is no monthly premium on Medicare Part A. But if you have Medicare Part A and receive Social Security and Rail Retirement Benefit benefits your Part B premium will generally be refunded from your monthly benefit payment. If you are eligible for Medicare Part B and you don't receive […]
Premium payments have risen in popularity among taxpayers as they have the ability to take out medical expenses free. These premiums are included with the Medicare plan. In general, the premium is not exempt from the deduction. The IRS can deduct your own medical expenses from your income if they exceed 7.5 percent. Continue to […]
What's the difference between Medicare and Medicaid? Medicare plans may vary by year. They appear to be similar but both programs are really different. All programs are usually created for different populations of people. Nevertheless, the program offers a choice of two options. In order to choose one that best meets your needs, the Medicare/Medicaid […]
How to identify a Medicare scam call and What to Do if You Fall Victim? Despite the new trend in scam calling, it becomes increasingly aggressive & sophisticated. Medicare scams are a major remit. During a survey of 2,000 Americans, the number was down 29% from the previous year despite a recent 3% increase from […]
Medicare Advantage Plans Medicare Advantage Program is designed as a single option to Medicare's Original Medicare program. The plan is offered through private insurers contracted to provide Part A or Part B and sometimes Part D prescriptions. Many plans cover services not available under Original Medicare. They include hearing, vision, and dental care. All Medicare […]
Are Medicare premiums taxable? Premium is an important medical expense that the Internal Revenue Service can recoup from your income tax each tax year. The premium is included in Medicare. Premiums are normally not deductible pre-tax but are included in the itemized deduction per month. The IRS can take a deduction from your own medical […]
Prescription Drugs Dental and Vision Coverage The Medicare Supplement does not cover prescription medications, however the Medicare Advantage plan covers the cost of medications you need for the first time you enroll. Medicare Advantage and Prescription Drug Plans are offered by a Medicare Advantage organization and/or Part D plan sponsor with a Medicare contract. Enrollment […]
Fee-only Medicare Advisor I’m Drew, I’m married, dad and founder of policyzip.com, a website providing information on consumer education and comparison plans. Since 2001, I have been teaching Medicare eligible people in many journals including Forbes Insurance NewsNet, Think Advisor, Yahoo Small Businesses, and many others. The aim of my article is to serve your […]
