July 25, 2024
cbgadminMedicare changes for 2025
In 2025, several significant changes are being implemented for Medicare, particularly for Medicare Part D and Medicare Advantage plans: Medicare Part D: Out-of-Pocket Spending Cap: A new $2,000 maximum out-of-pocket spending cap will be introduced for prescription drugs. This will provide financial relief and greater predictability for enrollees’ annual drug costs. Elimination of the Coverage […]
July 10, 2024
cbgadminInflation Reduction Act of 2022
The Inflation Reduction Act of 2022 includes several provisions aimed at reducing costs for Medicare beneficiaries. Here’s a detailed look at the key elements: 1. Prescription Drug Price Negotiation: Medicare Drug Price Negotiation: For the first time, Medicare is granted the authority to negotiate prices for certain high-cost prescription drugs directly with pharmaceutical companies. This […]
June 14, 2024
cbgadminDon’t Forget to Update Your Beneficiaries
Life changes fast. Whether it’s a new job, marriage, the birth of a child, or even a change in your financial situation, these events can significantly impact your life and future plans. One critical aspect that often gets overlooked in the midst of these changes is updating your beneficiaries. Here’s why keeping your beneficiary designations […]
May 29, 2024
cbgadminSocial Security Earnings Test
The Social Security Earnings Test is a set of rules applied by the Social Security Administration (SSA) to determine how much of your Social Security benefits will be withheld if you have income from working while receiving benefits before reaching full retirement age (FRA). Here’s a breakdown of how it works: Before Full Retirement Age […]
May 28, 2024
cbgadminMedicare Part B Immunosuppressive Drug Coverage
Medicare Part B Immunosuppressive Drug Coverage is a specific provision within Medicare that covers the cost of immunosuppressive drugs for individuals who have had an organ transplant. These medications are essential to prevent the body from rejecting the transplanted organ. Here’s a detailed explanation: Eligibility for Coverage Medicare Enrollment: To be eligible for Medicare Part […]
May 28, 2024
cbgadminMedicare’s Income-Related Monthly Adjustment Amount (IRMAA)
Medicare’s Income-Related Monthly Adjustment Amount (IRMAA) is an additional charge that some beneficiaries must pay in addition to their standard Medicare Part B and Part D premiums. This adjustment is based on the beneficiary’s income, with higher-income individuals and couples paying higher premiums. Here’s how it works: Determination of IRMAA 1. Income Assessment: The Social […]
April 6, 2021
AgencyMedicare 101 Educational Seminar
YOU’RE INVITED TO A MEDICARE 101 EDUCATIONAL ZOOM WEBINAR Do you have questions about Medicare? Are you feeling overwhelmed by the many TV ads or postcards piling up in your mailbox? If the answer is yes…..Please join Michael King for a Medicare 101 Educational Zoom Webinar, hosted by Century Benefits Group. He will cover […]
May 6, 2019
AgencyFinding Health Insurance Before Medicare Kicks In
Savvy Senior: Finding health insurance before Medicare kicks in Jim Miller is a contributor to the NBC Today show and author of “The Savvy Senior” book. (Savvy Senior) Jim Miller Correspondent I will be retiring in a few months and need to get some health insurance for my wife and me until we can enroll in Medicare. […]