Converting a traditional IRA to a Roth after 60 can be beneficial if future tax brackets are expected to rise, for leaving tax-free assets to heirs, or funding large expenses without increasing taxable income. The conversion triggers immediate taxes and may increase Medicare surcharges later. For those 73 or older, Read more
Eligible Medicare Advantage and Medicaid shoppers can now use OTC network cards on Amazon.com and Amazon Fresh for health, wellness, and select grocery purchases. The update let qualifying customers order essential items from home while using their OTC benefits card as a payment method online. To use the benefit, shoppers Read more
CMS announced policy shifts to simplify choices and improve prescription drug coverage. ~65M Americans enrolled as Medicare Advantage payments proposed essentially flat for 2027. CMS revamps Star Ratings to emphasize clinical quality, outcomes, and patient experience. Ratings changes: fewer admin metrics New depression screening follow-up measure Diabetes eye exams retained Read more
Some policymakers backed Medicare premium support, also called defined contribution or voucher programs. People with Medicare would get vouchers or coupons to buy health coverage. If vouchers fell short, people would pay remaining costs or lose coverage. The fact sheet said shortfalls were certain, since programs aimed to save Medicare Read more
Medicare beneficiaries face increasing fraud risks involving stolen personal information and unauthorized claims. To protect themselves, they should verify credentials of anyone contacting them, review Medicare summary notices for errors or suspicious charges, and safeguard their Medicare number. Reporting suspected fraud is crucial. Family members and financial advisers can assist Read more
Medicare open enrollment runs from October 15 to December 7, allowing enrollment or plan changes, including switching between original Medicare and Medicare Advantage. Original Medicare (Part A and B) holders can buy Medigap policies to cover out-of-pocket costs, but only within a six-month Medigap Open Enrollment period starting with Part Read more
Medicare Supplement Insurance (Medigap) covers out-of-pocket costs for Original Medicare Part A and B, such as copays and deductibles. There are 10 standardized plan types, with Plan G offering the most coverage for new enrollees. Medigap doesn't cover prescription drugs, long-term care, dental, vision, or hearing aids. Premiums vary by Read more
Beyond Medicare, smaller programs can cut costs and stretch retirement savings. List highlights 10 programs; eligibility often depends on income, resources, or age. Food help: SNAP for 60+ with net monthly income <$1.305K. Medicare bill relief: QMB for Medicare-eligible with monthly income <$1.35K. Extra savings: Part D Extra Help, plus Read more
MPPP lets Part D beneficiaries spread out-of-pocket drug costs across the year. Zero interest, no fees—yet total medication costs stay the same. Pharmacy checkout changes: no counter copays; monthly bill comes from your plan. In 2026, 2025 participants staying in same plan were auto-renewed; new users auto-enrolled. Works with 2026 Read more
Medicare premium increases in 2026 may significantly reduce Social Security COLA gains for retirees. Part B premiums rise $17.90 monthly, consuming much of the average 2.8% COLA increase. Lower-income retirees not on Medicaid are most affected, as premiums directly reduce benefits. Higher-income retirees pay more via IRMAA, though the impact Read more