Tag: Medicare Advantage
The Inflation Reduction Act signed by President Biden in 2022 somewhat limits how much retirees will pay out of their own pockets for medications this year. Next year, the law imposes a hard cap of $2,000. But while retirees are getting a reprieve from Congress, insurance companies are pushing in the opposite direction. According to…
Low premiums, aggressive marketing and extras like dental care and prescription drugs have propelled Medicare Advantage plans to half of the retiree insurance market. Nevertheless, some people still prefer traditional Medicare combined with Medigap insurance. Medigap buyers on average use $12,200 in medical care annually – $2,300 more than everyone else on Medicare – according to…
