This week Jim and John take a hard look at the rising costs of Medicare coverage. While this subject may not be pleasant, is very important to be aware of what is coming down the road and plan for it. Jim notes that Medicare costs are scheduled to go up another 114% by 2019. If you have Medicare Advantage, those costs are going to go up and equalize with regular Medicare. The key issue is Medicare will be covering less procedures and services in the future, which means insurance companies will be forced to cover more, which means premiums will be going up as well. Jim explains the history of the legislation affecting Medicare costs, and what is coming ahead. For anyone enrolled in Medicare, or nearing the age for Medicare coverage, this week’s program will likely surprise you, as well as provide a “wake-up call” about higher Medicare costs just around the corner.
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