The Qualified Medicare Beneficiary (QMB) Program according to the Centers for Medicare Services (CMS) is a “Medicare Savings Program sponsored by Medicaid”. This program helps helps low-income Medicare beneficiaries cover their Medicare costs and the key is that anyone who qualifies for it will also avoid IRMAA automatically. For those qualifying for the QMB coverage […]
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No matter what you’ve been told, Medicare’s Income-Related Monthly Adjusted Amount (IRMAA) is more than just a minor surcharge for retirees. IRMAA happens to represent a progressive tax on income that will significantly impact your retirement budget and bottom line later in life Granted, many in the financial industry, like your financial advisor and CPA,
The Centers of Medicare Services (CMS) is reporting that 2025 IRMAA and Medicare Costs will fall in line with the projections of the Board of Trustees. This is extremely good news as health insurers will have the correct pricing for coverage during the Annual Enrollment Period which will help many retirees. That bad new, however
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Impact of IRMAA on your Social Security benefit In retirement when it comes to your health insurance there is only one option especially if you are no longer covered by creditable health coverage from an employer and that is Medicare. Thankfully, Medicare is fantastic form of health coverage if you are properly insured and utilize
Why Ken Fisher is Wrong on Annuities: Federal Regulations. Most regular viewers of financial news on cable TV will recognize the name Ken Fisher of Fisher Investments and his lack of love for annuities. In fact he hates them and is telling everyone who will listen to him as much. His commercial even goes as
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It should come as no surprise that the Coronavirus (Covid-19) is changing how Americans will live for what appears to be quite some time and for those who are retired and will retire one of the biggest changes may just be with Medicare. Medicare, which happens to be the largest provider of health insurance for
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