2011 Medicare Deductibles and Coinsurance Amounts

    2011 Medicare Deductibles and Coinsurance Feature Amount Part A Deductible - Inpatient Hospitalization (per benefit period, 1-60 days) $1,132.00 Hospital Coinsurance  (per day, 61-90 days) $283.00 Hospital Coinsurance  (per day, 91-150 days) $566.00 Skilled Nursing Facility Coinsurance  (per day, 21-100 days) $141.50 Part B Deductible - Doctor Services and Supplies (per calendar year) $162.00 … [Read more...]

Happy New Year in 2011!!! – from Texas Senior Benefits

Happy New Year 2011

Texas Senior Benefits wants to wish you all a very happy, healthy, safe and prosperous New Year in 20011!!!!! … [Read more...]

Tax Benefits of Long Term Care Insurance

Tax Benefits of Long Term Care Insurance

There are many significant advantages to purchasing Long Term Care Insurance. For example, Long Term Care Insurance: Helps provide protection for a retirement nest egg. Helps people remain in their homes as long as possible. Helps people ensure they receive the quality of care desired. Helps ensure parents will not have to rely on their kids to take care of them. While most would agree these are all great reasons to buy Long Term Care Insurance.  Let's not forget there are also other important advantages to consider: The potential to save on federal and state income taxes. Long Term Care Insurance Premiums May be Tax Deductible When it comes to the amount of … [Read more...]

Benefits of a Medicare Supplement Insurance Policy

Benefits of a Medicare Supplement Insurance Policy

While Medicare pays a set portion of your health care costs such as hospitalization, nursing, facility care, physician’s services, and supplies it does not cover it all. A Medicare supplement insurance policy assists you pay for some of the charges that Medicare does not cover.  There are many choices you have for health care coverage and it is important that you understand how they all work. Here is a quick look at how Medicare supplement insurance policy differs from other coverage. Benefit #1: Your Medicare supplement insurance policy enables you to see any doctor or provider you wish as long as they accept Medicare. You are allowed to select the health care providers you wish to use. … [Read more...]

Have You Heard of the CLASS Act?

Long Term Care Insurance

The CLASS Act, otherwise known as the Community Living Assistance Services and Support Act, is the federal government's first attempt at a long-term care insurance program. While Congress spent the last year debating how to provide health insurance for the uninsured, this little-known provision slipped into the heath care law that could cost some Americans upwards of $2,000 a year. Under-reported and the under the radar of most lawmakers, the program will allow workers to have an average of roughly $150 or $240 a month, based on age and salary, automatically deducted from their paycheck to save for long-term care. Both supporters and detractors admit much needs to be worked out. There … [Read more...]

Congress Approves Freeze on Reduced Medicare Doctor Payments

Time is frozen.

Congress voted to approve a one-year freeze on Medicare physician payments to avoid a sharp rate reduction that was scheduled to go into effect on January 1, 2011. Before the vote, President Obama had called the freeze “an important step forward to stabilize Medicare.” He is expected to sign the legislation. The new one-year freeze follows a series of short-term fixes that have blocked the threatened cuts repeatedly over the past eight years. The threatened pay cuts had raised the possibility that more doctors would turn away Medicare patients. Doctors had been facing a 25 percent cut in reimbursement rates for treating Medicare patients. The new “doc fix,” which is estimated to cost $19 … [Read more...]

2011 Medicare Premiums, Deductibles and Co-pays

2011 Medicare Premiums, Deductibles and Co-pays

The 2011 Medicare premium, deductible and co-pay charges were recently announced and the changes for most seniors will be minimal, unless you’re a high-income beneficiary. Here is a quick snapshot of the announced changes. 2011 Medicare Premiums: Since the Social Security Administration will not be giving out a cost of living increase (or COLA) in 2011, the Medicare Part B premiums for most beneficiaries will not increase either. Thanks to the “hold-harmless” law, which prohibits Part B premiums from rising in any year that there’s no COLA, the 2011 monthly premium will remain at $96.40 for most existing beneficiaries, or $110.50 if you enrolled in the program this year. Unfortunately, … [Read more...]

New Healthcare Bill and Seniors

New Healthcare Bill and Seniors

Many senior citizens worry about the effect that the health care reform bill may have on them. After all, they generally use the health care system more than do younger people. And those living on fixed incomes may have little leeway in their budgets to help if their health costs rise. Would the healthcare reform legislation that President Obama plans to sign into law on Tuesday affect seniors in any direct way? The short answer is “yes.” The longer answer is that some seniors may lose Medicare benefits they now enjoy. Many others will gain from an enhancement of Medicare’s prescription-drug program. Here are some specifics on these changes: Medicare cuts Under the healthcare reform … [Read more...]

Healthcare Reform and Medicare Changes

Healthcare Reform and Medicare Changes

The sweeping healthcare overhaul the U.S. House of Representatives approved on Sunday includes about $455 billion in spending cuts for Medicare and other federal health programs over the next 10 years. Here are some frequently asked questions (FAQs) and answers about how the reform will affect Medicare healthcare recipients. WILL THE LEGISLATION CUT MEDICARE BENEFITS? There are no cuts to the traditional Medicare benefit. The lion's share of spending cuts are in Medicare Advantage -- a program that uses private firms such as Humana and UnitedHealth Group to deliver Medicare benefits. Many of these providers offer extra coverage and some of those extras could be dropped as Medicare … [Read more...]

2010 “Modernized” Medicare Supplement Summary

2010 “Modernized” Medicare Supplement Summary

New laws are bringing many changes to Medicare Supplement (Medigap) insurance plans and policies. Contrary to what many believe, these changes are NOT a result of the recently passed Healthcare Reform Bill. In fact, the changes DO come as a result of HR 6331, known as the Medicare Improvements for Patients and Providers Act of 2008 (MIPPA), which authorized implementation of the NAIC's proposed Medigap modernization changes, approved by the NAIC Plenary in March of 2007. Effective June 1, 2010, companies may offer two new Medicare supplement insurance plans and will stop selling five plans on June 1, 2010. Certain other plans will also have benefits added or deleted. The primary changes … [Read more...]