Are Medicare Costs Dropping Dramatically in 2024?

Join Marvin Musick from Medicare School as he discusses the upcoming changes to Medicare costs in 2024. How will the new U.S. laws reduce Medicare expenses, especially for those dealing with chronic diseases like cancer, heart disease, and diabetes? Marvin explains the key factors behind healthcare costs and the specific ways in which Medicare plans, including Advantage and Supplemental Plans, will adjust to help beneficiaries manage their healthcare spending more effectively.
Get ready to learn everything you need to know about the changes in Medicare costs and how they can benefit you.
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[@MedicareSchool]

✅ Watch the Internet's #1 Online Medicare Educational Workshop for FREE: get.medicareschool.com/45V4Rbw ✅ To get 1 on 1 Help from our Team, Schedule a Call Here: get.medicareschool.com/3PuKFq3

[@lolly7768]

Why are Social Security benefits even taxed? People are living on these payments. Not fair, imho!

[@craigbathurst1185]

The Government does not care about us. They don’t believe in a balanced budget and they just tax everyone to death.

[@vince8436]

This is about Medicare not Social Security.

[@Satjr35031]

SS by itself is non taxable FYI.

[@thumper823]

Good Info...a few years away from needing however

[@gcrispin57]

Wonderful presentation. ThankYou!!

[@MedicareSchool]

Our pleasure!

[@JBoy340a]

Marvin, great info as usual. And I love seeing someone who uses a HP Calculator!

[@treborcsr]

I'll have to watch this at least six times to understand all of it. Ha

[@almoemason]

I enrolled in a part N plan in Feb 2024 to start in May 2024. My premium went up before I even made the first payment. It was $136 now it is going to be $148.

[@bettykline348]

Same here

[@mojo3262]

I would be doing cartwheels if my supplemental was $148. Try $430/month. I will be forced back to Advantage next year.😢

[@eracer1111]

Yep. When I enrolled in Plan N in March, the cost was $172/mo. I just got a notice that my first monthly premium (May 1) will be $186.

[@Mars-77]

I enrolled in an N plan February 2023. My premium is $98.00

[@randyzeilinger9066]

I have a plan N and mine is also 98 a month Mutual of Omaha

[@sandradavis6760]

Relatives have government plans, could they purchase supplemental plan G and use both plan? Thank you in advance.

[@liap1293]

??? Is there an annual maximum or lifetime maximum amount that Medicare will cover???

[@BlessedBeMyDay]

I have a question. I have plan N and i have seen the increases forecasted in the future. I know it could get tough to pay but i will continue for the reason you state here about heart disease and cancer costs. My question is can Insurance company raise my premium only on the fact that they have been stuck with some huge bills over the years or are they bound by laws to hold fast with normal increases that every person gets depending on area and age.

[@MedicareSchool]

The premium raises can be determined a various things such as claim ratios that the company has encountered within the last year (across all policyholders, not just you), inflation, and changes to Medicare.

[@esgwat]

Malpractice insurance is a huge cost for providers. Get lawyers out of the picture and costs will come down!

[@transmitterguy478]

And, throw out the bad doctors that cause malpractice lawsuits!

[@hongs8867]

Just think how much these diseases would not exist if we ate a better diet?

[@JBoy340a]

Or ate less and exercised more so obesity was not common.

[@user-og3bn2de6i]

And they didn't add chemicals to our food

[@menurager2199]

When you retire full-time, can you work as much as you want and how will your social security be taxed while collecting and working

[@lauratopliffe8179]

If your total income is more than $25,000 for an individual or $32,000 for a married couple filing jointly, you must federal income taxes on your Social Security benefits. Below those thresholds, your benefits are not taxed. Up to 50% of your benefits is taxable if your income is $25,000 to $34,000 for an individual or $32,000 to $44,000 for a married couple filing jointly. Up to 85 percent of your benefits is taxable if your income is more than $34,000 (individual) or $44,000 (couple). The IRS has an online tool you can use to calculate how much of your benefit income is taxable. In addition, 12 states also tax Social Security to varying degrees: Colorado, Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, Rhode Island, Vermont, Utah and West Virginia.

[@sueb4154]

So if the MOOP drops from $3800.00 in 2024 to $2000.00 in 2025, who assumes the difference? If it is your Part D drug plan, as opposed to the manufacturer, won"t the costs of these plans increase as well?

[@TippyPuddles]

Government is f'n nuts. This is mental gymnastics. This has got to STOP!

[@bettykline348]

No, I’ve Been getting Medicare since December and I just got a notice From United healthcare that they are raising the rates next year.

[@nicktuttle9359]

If you have a supplement plan/medigap they will raise the rates each year. UHC is typically the most consistent on their rate raises. Smallest amount each year as compared to other carriers

[@mike_adams]

People on Ozempic would surely reach that $5030 threshold

[@eracer1111]

I'm one month away from Medicare kicking in. I've been getting a coupon from Lilly for my Mounjaro, and paying a $35/month co-pay. I will no longer be eligible for the coupon, and the monthly cost jumps to $1,086. Of course I'll be covered by my Plan D max OOP, but overall, my monthly OOP drug costs will roughly double - because I take Mounjaro.

[@njphil1279]

Sure the cost drops for catastrophic coverage and hi-cost drugs, but what about the co-pay for 2025?.

[@ga6589]

The way I understand it, the 25% copay will apply in 2025 until you reach the $2000 max OOP.

[@cduke1241]

It’s about time!!! So many Arno don’t take the medicine they need it’s eat or meds so pitiful, and then lose their homes to Medicaid

[@timhoenninger]

“Prior to 1983, social security was not taxable. Joe Biden voted successfully in favor of taxing 50% of social security.” “In 1993, Joe Biden was the deciding vote in raising taxes on social security from 50% to 85%.” The circumstances are irrelevant, this is how he voted. If all those that voted yes had to live on SS as their main income they would’ve voted differently but they prepared for retirement through insider trading.

[@mey7579]

Trump and GQP want to cut SS and Medicare benefits. They have wet dreams over doing it.