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 […]
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 […]
What is Medigap? If you have recently joined Medicare, you have probably heard about Medigap or you have wondered why. This program helps pay off a portion of Medicare costs out-of-pocket. Medigap policies are available for all kinds of health care conditions. Tell me about the benefits of Medigap for enrolled individuals. Medigap is a […]
Why Medicare Supplement Premiums Increase Many customers visit our site after receiving a mail confirming that Medicare is increasing its rates. Generally a Medicare Supplement Rate increase averages a little over 2% / 1% each year. Medicare's Supplemental Rate is often increased two times per year. Years of costly rate increases can cause financial hardship. […]
What is Medicare Supplement Insurance? Medicare Supplemental Insurance and Medigap are available from private insurance companies. Part B Part A will allow you to qualify for a policy. This is not available for people enrolled in Medicare Advantage Plans as it only covers one person. Medigap generally provides Medicare-assisted secondary protection for Medicare services. Medigap […]
