It’s that time of the year. Open enrollment for Medicare. From the 15th of October through 7 December. That’s true for folks who are already in the program. But, trust me, the first time you sign up for Medicare, it’s just as confusing.’
I bet you thought I forgot about this provision. Something the Democratic Party has been trying to provide Medicare recipients for years. Lowered drug prices because Medicare is granted the ability to negotiate pharmaceutical prices directly with the manufacturers and marketers. After all, Medicare is the largest purchaser of prescription drugs in the USA- and drugs are our fastest growing medical expense. And, since Medicare accounts for 20% of all medical expenditures in the USA, of which 1/3 are on prescription drugs, this is a big, big cost center.
Continue reading What About Those Drug Price Cuts for Medicare?
I am not a basketball fan, but that doesn’t mean I don’t know this guy. I am also not a fan of the “Shark Tank”, that CNBC television program.
Continue reading Medicare and Build Back Better
When will it stop?
Yes, we all know that we have inflation- mostly due to weather related issues blocking our supply chains. But, health care costs (yet again) jumped almost 10% last year. (That’s more than double the previous year’s increase of “only” 4.3%; one of the lowest in a while.) This one, though, is the highest increase is 2 decades! Coupling that with our modest drop in GDP (gross domestic product) means healthcare glommed some 20% (compared to 17.6%) of the economy last year.
Continue reading Through the roof?
The pandemic elevated the acceptance of telemedicine. Both physicians and patients recognized its abilities during the times of quarantine- approaching some 32% of all office and outpatient health encounters. I really thought this could be the boost the technology needed to turn the corner. (I’ve been advocating telemedicine for 40 years- always expecting it to take off.)
Continue reading Telemedicine is in trouble as the pandemic wanes
We spoke about the Aduhelm fiasco about two weeks ago.
Continue reading Aduhelm controversy- part 2
It’s open season!
Yup, until the 15th of December, we can change our healthcare plan- if we are under the age of 65. PPACA (aka Obamacare, the Patient Protection and Affordable Care Act) actually demands we sign up for the plan by the ides of December.
Continue reading It’s Open Season!!!!
We have a slew of clients who have a tip jar. (Yes, these are coffee shops, by and large.) And, our practice has been to count the funds in the tip jar every hour, and divide those funds among each person working that hour equally. We then add those funds to the gross amounts which are subject to income and FICA taxes (and subtract the tips distributed as “cash advance”).
It starts. Today is the beginning of open season. Time to choose our health care plan. Or, if you are like me and entitled to Medicare, today is the day to decide to ADD to the mandated service. Because years ago, the government cut Medicare provisions. Now, we need to choose a drug plan and a Medicare Advantage plan to cover all those things that aren’t covered. Or pay through the nose.
Continue reading Hurry Up. Less than 45 days left
