Can My Drug Cost Go Over $2000 On a Part D Plan if a Drug is not on Formulary?
Posted: February 4, 2025
Yes, your drug costs can exceed $2,000 on a Medicare Part D plan if the drug is not on your plan’s formulary (the list of covered drugs). The $2,000 out-of-pocket cap (starting in 2025) only applies to covered drugs. What Happens If a Drug Is Not on the Formulary? You Pay Full Price – If a medication is not on your plan’s formulary, Medicare does...
How Did The Inflation Reduction Act Effect Medicare?
Posted: January 31, 2025
The Inflation Reduction Act (IRA) of 2022 introduced several key changes to Medicare, primarily aimed at lowering prescription drug costs for seniors and reducing overall healthcare expenses. Here’s how it impacted Medicare: 1. Prescription Drug Price Negotiation For the first time, Medicare can negotiate drug prices directly with pharmaceutical companies. The negotiation process started in 2023, with the first set of lower prices taking effect...
Why is Sitting the New Smoking?
Posted: January 25, 2025
Smoking kills 500,000 people a year in our country, according to the American Lung Association. It is a tragedy, considering it is the number one preventable cause of death in the U.S. When people say, “sitting is the new smoking,” the words represent a feeling more than a statistical fact, but it is a valid problem. How Much Do Americans Sit? The Centers for Disease...
When Should You Buy Life Insurance?
Posted: January 22, 2025
There is no one-size-fits-all answer to the question, “When should I buy life insurance?” Let’s look at a few valuable guidelines to help you decide. Generally, buying a life insurance policy when you are young and healthy is recommended. There are multiple factors to consider in any case. If You Buy Insurance While Young: Buying insurance when you are young and hopefully in good health...
Useful Apps for Tech-Savvy Seniors
Posted: January 21, 2025
People don’t go anywhere without their phones these days. Cell phones can provide critical assistance to seniors, regardless of their location. Protections are provided through certain “apps” or software applications. These helpful little programs are usually represented by a colorful tile or icon on your phone’s menu screen. Recent reports show that nearly 4,000 new apps are uploaded daily, but which ones are right for...