All things considered, the news regarding your Medicare costs next year is pretty good. For about 70 percent of the nation's 52 million Medicare beneficiaries, there will be no Part B premium increase in 2016.
We've all heard that healthcare costs in retirement are high. We've also heard that part of our retirement planning should be to understand these potential costs and budget for them. This is nothing new. What is new is the potential increase in these (already expensive) costs slated for next year.
Every year but two for the last 40 years, people have seen a cost-of-living increase in their Social Security checks, an inflation adjustment. But, they will see no increase at all in their Social Security benefit in 2016.
Each day, approximately 10,000 baby boomers turn 65 -- and thereby become eligible for Medicare. Many would argue that unlike most signs of getting older, that's a good thing, considering how expensive individual health insurance has become.
Medicare coverage goes far beyond what almost anyone would ever need, so buying a Medicare supplemental policy amounts to little more than giving an insurance company your money so that they can keep it.
Medicare remains an overwhelmingly popular benefit, and American families are supportive of preserving it. But some policymakers propose pushing middle- and high-income Medicare beneficiaries down a slippery slope by further increasing premiums based on their incomes.
The world's wealthiest country is thinking about doing the unthinkable: slashing funds to the section of Medicare that covers vital treatments like chemotherapy for American seniors. These potentially deadly cuts must be rejected.
If you're enrolled in Medicare, mark these dates on your calendar: October 15-December 7, 2011. That's Medicare's 2012 Open Enrollment period -- and you should note that it occurs a month earlier this year than in the past.