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☆ Most Medicare Advantage users are happy with their plan. What to do if you're not
▼ + stars: | 2023-03-02 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +4 min

momcilog | E+ | Getty ImagesFor the most part, Medicare beneficiaries in Advantage Plans are happy with their coverage, a new study suggests. However, if you're among those who are not thrilled about your 2023 Advantage Plan, you can do something about it. Or, they can drop the one they have altogether in favor of basic Medicare (Part A hospital coverage and Part B outpatient care coverage). Additionally, if you drop your Advantage Plan, don't assume that you'll be able to get a so-called Medigap policy, which many beneficiaries pair with basic Medicare. This means that once you move to a different Advantage Plan or drop it for basic Medicare, the change is generally locked in for the year.

☆ Medicare expenses in retirement could top $383,000 for a couple with high drug costs, study finds
▼ + stars: | 2023-02-16 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +5 min

"You don't want to be shocked when you get to retirement and find this out, or discover that Medicare doesn't cover everything," Fronstin said. Representing an extreme case, a couple with high prescription drug expenses would need to have saved $383,000 to have a 90% chance of having enough to cover their health-care costs. Advantage Plan coverageThe second coverage scenario analyzed in the study involves a Medicare Advantage Plan, which delivers Parts A and B, and typically Part D, as well extras like dental and vision. Of Medicare's 64.5 million beneficiaries, 29.1 million are enrolled in Advantage Plans and that number is expected to continue growing. While many Advantage Plans have no premium, they do have their own deductibles, copays or coinsurance and out-of-pocket maximums that vary from plan to plan.

☆ Veterans Affairs Agency Waives Doctor Copays for Native Veterans
▼ + stars: | 2023-01-21 | by ( Ben Kesling | ) www.wsj.com time to read: 1 min

The Department of Veterans Affairs said it would waive all copays for eligible American Indian and Alaska Native veterans, in an effort to boost use of primary-care medicine among traditionally underserved populations. “It’s no mystery to a lot of people that healthcare is sometimes hard to come by in many Native American communities,” said Travis Trueblood , director of tribal health for the VA, adding that this policy tries to help address that discrepancy.

☆ Open enrollment for 2023 health insurance through the public exchange ends Sunday
▼ + stars: | 2023-01-15 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +1 min

If you don't have health insurance for 2023, you may still be able to get it through the public marketplace. Open enrollment for the federal health-care exchange ends Sunday, with coverage taking effect Feb. 1. If your state operates its own exchange, you may have more time. Most marketplace enrollees — 13 million of 14.5 million in 2022 — qualify for federal subsidies (technically tax credits) to help pay premiums. For the most part, people who get insurance through the federal (or their state's) exchange are self-employed or don't have access to workplace insurance, or they don't qualify for Medicare or Medicaid.

☆ Starting Tuesday, all U.S. military veterans in suicidal crisis will be eligible for free care at any VA or private facility
▼ + stars: | 2023-01-13 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Courtney-Kube-Circle-Byline-Template.Jpg | Courtney Kube | ) www.nbcnews.com time to read: +2 min

Beginning Tuesday, U.S. military veterans who find themselves in suicidal crisis will be eligible for free emergency medical care at any Department of Veterans Affairs facility or any private facility. Unlike for most other medical benefits, veterans do not have to be enrolled in the VA system to be eligible. The VA already provides emergency suicide care, but with the new benefit, veterans will not have to pay any copays or fees for their care. If the veterans receive care at a private facility rather than at a VA facility, the government will cover the costs. “Veterans in suicidal crisis can now receive the free, world-class emergency health care they deserve — no matter where they need it, when they need it, or whether they’re enrolled in VA care,” VA Secretary Denis McDonough said in a statement.

☆ Here are key things you need to know if you’re eyeing a Medigap policy alongside basic Medicare
▼ + stars: | 2023-01-06 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +7 min

For about 23% of Medicare's 65.1 million beneficiaries, the solution for covering those outlays is a so-called Medigap plan. The reasons that some beneficiaries instead choose Medigap alongside basic Medicare vary from person to person, according to Elizabeth Gavino, founder of Lewin & Gavino and an independent broker and general agent for Medicare plans. watch nowHere's what to know about Medigap policies if you're considering purchasing one. There's huge variation in costDespite Medigap policies' standardization, the premiums can vary greatly. The way a Medigap plan is 'rated' also mattersAnother difference in Medigap premiums can come from how the plans are "rated."

☆ There's still time to get health insurance through the public exchange — and you may qualify for help paying premiums
▼ + stars: | 2023-01-02 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +1 min

Anyone without health insurance has about two weeks left to get 2023 coverage through the public marketplace — and subsidies could make it affordable. Open enrollment for the federal health care exchange runs through Jan. 15, with coverage taking effect Feb. 1. Most marketplace enrollees — 13 million of 14.5 million in 2022 — qualify for federal subsidies (technically tax credits) to help pay premiums. For the most part, people who get insurance through the federal (or their state's) exchange are self-employed or don't have access to workplace insurance, or they don't qualify for Medicare or Medicaid. As of Dec. 15, nearly 11.5 million people had selected a plan through the marketplace, according to CMS.

☆ Some Medicare costs are heading higher in 2023, while others are going down. Here's what you need to know
▼ + stars: | 2022-12-29 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +4 min

Part B premium and deductible will be lowerThe standard Part B premium will be lower in 2023 — $164.90, down from $170.10 in 2022. While most beneficiaries pay the standard premium, higher-income enrollees pay more due to income-related surcharges (see table below). However, "they are calculated based on income two years prior," said Elizabeth Gavino, founder of Lewin & Gavino and an independent broker and general agent for Medicare plans. And, some of those options either have no monthly charge or will pay your Part B premium. The maximum out-of-pocket limit for Advantage Plans will be $8,300 in 2023 for in-network services.

The Mark Cuban Cost Plus Drug Company negotiates directly with drugmakers. So far, that's been the strategy for the Mark Cuban Cost Plus Drug Company. In October, Cost Plus Drug Company announced a partnership with Capital Blue Cross. Cuban said he wanted Cost Plus Drug Company to be as transparent as possible on pricing. Cost Plus Drug Company is considering a test program for insulin that would offer a 90-day supply of insulin, or a total of 12 vials, for $170.

☆ You can still sign up for 2023 health insurance through the public marketplace — but waiting past Dec. 15 can delay coverage
▼ + stars: | 2022-12-14 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +4 min

FamVeldIf you don't have health insurance lined up for next year, there's still time to get private coverage through the public marketplace. The deadline is Dec. 15 — Thursday — to sign up on Healthcare.gov for a health plan to take effect Jan. 1. Most marketplace enrollees — 13 million of 14.5 million — qualify for federal subsidies (technically tax credits) to help pay premiums. For enrollees who get subsidies, coverage is generally dropped after three months if premiums are not caught up. That's been the case even if a worker wanted their dependents covered too — meaning the actual cost of family coverage could far exceed that threshold.

☆ How Much Car Insurance Do I Need?
▼ + stars: | 2022-11-13 | by ( ) www.wsj.com time to read: +11 min

We’ll guide you through how to decide what car insurance works for you––making sure you get the coverage you need without breaking the bank. Required coverage amounts vary by state, but often match the minimum liability insurance coverage requirements. At the same time, if you have collision insurance (more on this below) and a low deductible on your health insurance plan, this insurance could be largely redundant—and you may well be safe with your state’s minimum. How much collision insurance coverage do I need? Also just like collision insurance, the coverage limit for comprehensive insurance is typically the cash value of your car.

☆ Here are 4 ways to take advantage of your health-care expenses before the end of the year
▼ + stars: | 2022-11-13 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +5 min

Take advantage of reaching your deductibleIf you've met your plan's deductible, you may be able to pay less for qualifying health-care services before the end of the year than you would after the deductible resets Jan. 1. Once you've met your plan's deductible, you may or may not face copays or coinsurance — it depends on your plan's out-of-pocket maximum, which may be higher. See if you can get the medical expense tax deductionThere is a tax deduction for medical expenses, although it comes with parameters that prevent some taxpayers from using it. For starters, you can only deduct health-care expenses that exceed 7.5% of your adjusted gross income. Its gains grow tax-free, and as long as withdrawals are used for qualifying medical expenses, tapping those funds also comes with no tax.

☆ Before dropping a Medicare Advantage plan altogether during open enrollment, compare these key costs
▼ + stars: | 2022-11-02 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +4 min

FatCamera | E+ | Getty ImagesFor some Medicare beneficiaries, an Advantage Plan ends up not being a good fit. Here's what to consider if you want to ditch an Advantage Plan altogether. Danielle Roberts co-founder of Boomer Benefits"There is not a guarantee that the underwriter will approve you for the Medigap policy," Roberts said. This means it may be wise to avoid dropping your Advantage Plan until you know you'd be able to get the Medigap policy. That 12-month trial period lets you drop an Advantage Plan and return to the Medigap plan you were previously enrolled in.

The cost of insulin remains a barrier for many Americans with diabetes who depend on the drug, research published Monday suggests. It was the first time that the CDC had included questions about insulin use, though concerns about sky-high insulin prices have been reported for years. Meanwhile, those with public health coverage, such as Medicaid and Medicare, had the lowest rates of rationing. According to the American Diabetes Association, people with type 1 diabetes need, on average, two to three vials per month. He said the "most ambitious" proposal he would like to see in the U.S. is universal health coverage with no copays for consumers.

☆ Insulin: 1.3 million Americans with diabetes rationed their supply in the past year, study finds
▼ + stars: | 2022-10-17 | by ( Naomi Thomas | ) edition.cnn.com time to read: +10 min

They looked at how commonly these people rationed insulin because of how much it cost. “What we found was that nationwide, about 1.3 million Americans with diabetes rationed insulin annually, and that’s about 16.5% of all those people who use insulin,” Gaffney said. Although there’s no known way to prevent type 1 diabetes, type 2 can be prevented or delayed with healthy lifestyle changes, including losing weight and being active. Her own research into a single diabetes center found high rates of insulin rationing. T1 International is led by people with type 1 diabetes who support local communities, giving them the tools they need to access insulin and diabetes supplies.

☆ Nearly 6 million older adults are living below the poverty line. These resources can help struggling seniors
▼ + stars: | 2022-09-26 | by ( Annie Nova | ) www.cnbc.com time to read: +5 min

The difference means that nearly 6 million older adults are struggling to make ends meet. Apply for food benefitsPixelseffect | E+ | Getty ImagesMany seniors aren't taking advantage of all the food assistance available to them, experts say. A 2015 study found that less than half of eligible seniors participated in the federal Supplemental Nutrition Assistance Program, or SNAP. In addition, those enrolled in Medicare Part D, which covers prescriptions, should look to see if they qualify for Extra Help. The council also has a guide called You Gave, Now Save, including information on the most generous benefits that help older people with expenses like their phone bill and property taxes.

☆ The No. 1 best city to retire isn't in Florida—but several others in the top 10 for 2022 are
▼ + stars: | 2022-09-24 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

The survey ranked 182 cities based on four key categories of equal weight: affordability, activities, quality of life and health care. When it comes to the best cities to spend your retirement years, the Sunshine state takes nearly half of the top 10 spots, according to WalletHub's 2022 Best and Worst Places to Retire survey. Additionally, if you'll be living on a fixed income in retirement, be sure to plan your expenses and lifestyle accordingly, Wolske says. One of the biggest retirement planning mistakes people make is not properly preparing for additional medical expenses, Wolske says. A 65-year-old couple retiring in 2022 can expect to spend an average of $315,000 in health-care and medical expenses in their retirement, according to Fidelity Investment's August estimate.

☆ Open enrollment season for 2023 employee benefits is getting underway. What to watch for
▼ + stars: | 2022-09-22 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +3 min

Hinterhaus Productions | Digitalvision | Getty ImagesIt's that time of year, when workers get to make some decisions about their employee benefits. Many companies are beginning to hold their annual open enrollment period, which is when employees can sign up for 2023 health insurance — as well as consider other benefits, if your employer offers them. Some may offer extras like supplemental life or disability insurance, pet insurance or help with education costs. "People tend to [review] their benefits very quickly," said Paul Fronstin, director of health benefits research at the Employee Benefit Research Institute. For 2023, the annual cap on HSA contributions is $3,850 for self-only coverage and $7,750 for family coverage.

☆ Millennial in Atlanta quits $180,000 job, moves to Lisbon: 'You get a lot of bang for your buck here'
▼ + stars: | 2022-06-08 | by ( ) www.cnbc.com time to read: +8 min

Her job in Atlanta, Georgia, came with a lot of perks, but it also felt grueling. After traveling to about 40 countries, Wynter settled in Lisbon, Portugal, in mid-2020, to live "my most freeing life," she says. Sharolyn Wynter says she immediately fell in love with Lisbon her first time visiting the city on vacation in 2017. Living 'my most freeing life' in Lisbon"This is the moment in my life when I've made the least amount of money," Wynter says. The article "Millennial in Atlanta Quits $180,000 Job, Moves to Lisbon: ‘You Get a Lot of Bang for Your Buck Here’″ was originally published on Grow (CNBC + Acorns).

☆ The Digital Health Ecosystem 2022: How COVID changed the US healthcare system
▼ + stars: | 2022-02-02 | by ( Insider Intelligence | ) www.businessinsider.com time to read: +7 min

The following is a preview of one Insider Intelligence Health report, The Digital Health Ecosystem . Key digital trends in the health ecosystemWhat is digital health? While the healthcare industry was slow-moving when it came to digital solutions, COVID-19 upended the entire health ecosystem, including insurance, healthcare delivery, and pharmaceutical spaces. Telemedicine is a growing part of the digital health ecosystem. Health ecosystem forecast for 2021While some aspects of the healthcare ecosystem are tough to predict moving forward, one thing is certain: digital healthcare is here to stay.

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