The two most significant changes will directly impact many San Luis Obispo seniors who rely on Medicare health insurance and whose monthly income includes social security benefits.
San Luis Obispo, CA (PRWEB) February 05, 2016
Susan Polk Health Insurance Company recently released a report on the new changes that Medicare San Luis Obispo users can expect to see in 2016. To view the report, see below, or visit Susan Polk's blog.
The two most significant changes will directly impact many San Luis Obispo seniors who rely on Medicare health insurance and whose monthly income includes social security benefits. Social Security declared that there would be no cost-of-living adjustment (COLA) for the upcoming year. In the last 40 years, this is only the third time that COLA has not been included in social security payments.
Those who presently have their Medicare premiums withdrawn from their social security payments and are not subject to income-related additional changes will continue to pay $104.90 per month. For all others, including those who pay their Medicare premium directly, and for those with higher income, the new, basic premium will be $121.80.
The premium for Part B of the Medicare health plan, which covers doctor’s visits and outpatient care, has been based on the beneficiary’s income since 2007. This means that those with higher incomes will pay a higher premium for Part B of Medicare in 2016 than they have in past years. This increased premium also affects new enrollees to the Medicare plan. While the 2015 premium was $104.90, the 2016 premium will be $121.80.
In addition, San Luis Obispo Medicare users will see increases in the deductibles and copays for Medicare benefits in 2016.
To view the complete report, visit the blog.
For more information on how to get the most suitable Medicare plan, call the specialists at Susan Polk Health Insurance Agency at (805) 544-6454.
Susan Polk Insurance Agency, Inc.
1443 Marsh Street
San Luis Obispo, CA 93401
(805) 544-6454
CA Insurance License No. 0D44015
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