Share

Round Rock, TX Attorney Blog

Wednesday, August 26, 2015

Medicare Premiums Expected to Rise Up to 52 Percent for Some Seniors

What changes to Medicare laws are expected in the future?

As seniors continue the post-retirement financial planning process, the annual Medicare Trustees Report released at the end of July purports to show a dramatic increase in Medicare Part B premium costs – up to 52 percent in some instances. Moreover, the Trustees  Report shows that Medicare Part B deductibles are also expected to rise – also up to 52 percent for some seniors. In sum, certain groups of Medicare Part B recipients could see a concurrent rise in both monthly premium and out-of-pocket expenses.

Medicare Part B Coverage

For those who are just beginning to plan for retirement and long-term care, understanding Medicare and its various components, as well as the role of Medicaid in long-term care planning, can be overwhelming. In general, Medicare is available for senior citizens who have paid into the program for a sufficient number of years during their employment history. The program works much like a private insurer, and is administered by private management companies. It consists of several parts, each assigned a letter, with each component covering a different segment of comprehensive healthcare.

Medicare Part B is an essential component of healthcare coverage that spans a wide variety of everyday services, including doctor visits and surgical procedures. What it does not cover, however, is long-term care services beyond 120 days.

For those in need of long-term care services, including round-the-clock skilled nursing services in a nursing home setting, it may be necessary to begin planning for eventual Medicaid eligibility. Medicaid, which covers the costs of a nursing home stay, is available for those who meet the financial requirements of enrollment. These requirements tend to change year to year, so it is important to meet with a reputable elder law attorney to keep current with the latest information.

If you are in need of elder law advice or would like to speak to a reputable attorney about your options in estate planning, please contact the Winters Law Firm in Valparaiso, Indiana. We serve clients throughout Northwest Indiana and can be reached at 219.307.4373.


Archived Posts

2017
2016
December
November
October
September
August
July
June
May
April
March
February
January
2015
December
November
October
September
August
July
June
May
April
March
February
January
2014


Estate Planning and Elder Law News



© 2017 Gerald Winters, P.C. | Disclaimer
1000 Heritage Center Circle, Round Rock, TX 78664
| Phone: 512-270-3807

Estate Planning | Elder Law | Tax Law | Business Law | | Attorney Profile

Law Firm Website Design by
Amicus Creative