A new update to Medicare coverage under the Inflation Reduction Act means seniors who delay joining Medicare could face additional hurdles.
A new Medicare rule could wind up forcing seniors to switch health insurance plans or face a significant penalty.Many seniors who continue to work past 65 are still on their employer's health plan instead of the government-run Medicare.However, a new update to Medicare coverage under the Inflation Reduction Act means seniors who delay joining Medicare could face additional hurdles when it comes to drug coverage.
The late enrollment penalty goes into effect every month you are enrolled in Medicare if, after the initial enrollment period, you had 63 or more days without Medicare drug coverage or an employer-provided creditable drug coverage plan.The exact penalty is calculated by multiplying 1 percent of the national base beneficiary premium, which was $34.70 for 2024, times the number of how many months you went without Part D or otherwise creditable coverage.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Medicare pushes new payment rule after alleged $3 billion fraud scheme“We’ve never seen anything like this” in size and scope, said one industry leader.
Read more »
Best Medicare and Medicaid Health Care Plans in New York CityAccording to U.S. Census data, more than 3.5 million people over the age of 65 live in New York, accounting for almost 20% of the state’s total population.
Read more »
Medicare explores a new way to support caregivers of dementia patientsThe government is launching an experimental program to ease the burden on caregivers of people with Alzheimer's. The idea is to keep patients healthier without exhausting their families.
Read more »
Medicare explores a new way to support caregivers of dementia patientsThe government is launching an experimental program to ease the burden on caregivers of people with Alzheimer's. The idea is to keep patients healthier without exhausting their families.
Read more »
Judge pauses new pay cap policy for Medicare brokersThe ruling blocks a Biden administration policy.
Read more »
Medicare Coverage to Change for Millions Under New ProposalPreviously, seniors relying on Medicare were largely unable to use their health insurance to cover online therapy tools.
Read more »