Blogs
- Open Enrollment 2023 FAQ
- Get Ready! Medicare Open Enrollment Begins October 15th
- Ten Shocking Medicare Stats
- Minimize Home Care Costs with Medicare
- 4 Ways to Make Your Home Safer for Loved Ones with Alzheimer’s Disease
- 7 Million Californians to Benefit from State-Run Retirement Plan
- 5 Ways to Get the Most from Medicare
- How to Spot Medicare Open Enrollment Scams
- 200,000 Doctors are Turning Away New Medicare Patients
- Doctors Warn Patients About Upcoming Medicare Changes
- The Mystery of Medicare
- Medicare Cost Plans vs. Medicare Advantage
- Shopping for Medicare Last Minute
- 5 Reasons to Switch Your Medicare Advantage Plan
- Medicare Help: Get Help Choosing a Hospital
- What do Medicare drug plans cover?
- How Medicare Online Works for Medicare Beneficiaries
- Medicare Part A Costs
- When to buy Medigap Insurance
- The Latest in the Battle for Prescription Drug Coverage
- Don’t Miss These Medicare Deadlines
- 4 Tips for Protecting Your Retirement Savings
- Medicare Open Enrollment Starts Soon
- The Ultimate Retirement Checklist
- Health Care to Cost $10K Per Person
- 8 Things Seniors Should Know About Hospice Care
- Do seniors know enough about their Medicare choices?
- Retirement Plans You Might Regret
- Medicare Penalized for Being Too Careful
- Paul Ryan’s Plan to Make Medicare a Voucher Program
- Thrown Away: $3 Billion in Cancer Drug Spending Wasted
- How Seniors are Winning with Home Care
- Medicare Facts - Are Injections Better Than Eye Drops for Addressing Cataracts
- 3 Things You Don’t Know About Medicare But Should
- Americans Want Medicare to Cover Obesity Treatments
- Best Places to Retire with Affordable Healthcare
- Medicare to Test New Drug Pricing for Doctors and Hospitals
- Retirement – 5 Websites Made for Retirees
- Medicare Home Health Agencies
- Medicare Part B Costs And Coverage 2016
- Medicare Advantage is Changing in 2016 – Are you Ready?
- Choosing a Home Health Agency
- Medicare Part D Costs and Coverage 2016
- DIY Guide to Medicare Shopping
- Should Medicare Cover Genetic Sequencing?
- CMS Bars Cigna from Enrolling New Medicare Members
- Is Medicare for All an Achievable Goal?
- Trump – Medicare Should Negotiate Drug Prices
- A Guide to Medicare Part A
- 5 Things You Didnt Know About Medicare
- Medicare News: A Look Back at Medicare Changes in 2015
- Hospital Prices Vary Across U.S.
- Five Ways You’re Wasting Your Retirement Money
- Government Targeting Remaining Uninsured
- Retirement Benefits Set to Change in 2015
- Medicare Costs: These 5 Screenings will Help You Keep Medicare Costs Down
- Medicare Spending: New way to explore Medicare prescription-drug spending
- Infections & Mistakes - Medicare Penalizes South Florida Hospitals
- Three Changes Coming to Medicare in 2016
- Quit Smoking with Help From Medicare
- Get Your Free Flu Shot Before It is Too Late
- Antibiotic Use: When Not to Take Antibiotics
- Medicare Premium Costs Are Not Going to Spike For Now
- A Migraine even without throbbing pain is a migraine
- Deciding on your best options according to your circumstances and needs
- Medicare Advantage Plans (Under part C)
- Medicare Prescription Drug plans (Part D)
- The things that Medicare doesn’t take care of
- Nurture your body by drinking plenty of water
- Avoid paying more for prescription drug coverage
- Dear Coffee lovers, Caffeine may actually be beneficial for you
- How does one select a primary care provider for oneself or a loved one?
- Know how traveling affects your Medicare plans
- Have Medicare costs been worrying you? The good news is, you may qualify for financial hel
- What should be done if I want to make a transition from Health Marketplace to Medicare
- The drawbacks of Medicare Advantage
- Can Medicare Advantage provide quality, savings, satisfaction and access- all together?
- Refining Medicare Advantage
- What are my expectations from a Medicare program?
- Medicare Additional/Supplemental Insurance Plans
- Working towards better American Health care- Medicare Advantage
- Managing out-of-pocket costs and paying for Medicare
- The basics of medicare and how it works
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Ten Shocking Medicare Stats
Medicare is ever growing, but revenue is not. At least not fast enough. Find out what’s trending in Medicare, and how it will affect you.
57 million people are enrolled in Medicare.
That number means even more when you consider the fact that it’s about 16% of the U.S. population, including seniors over the age of 65 and younger Americans with disabilities.
There will be 92.8 million people enrolled in Medicare by the year 2050.
Medicare is currently funded by combining general revenues, payroll taxes, and Medicare premiums. Medicare Part A is mostly funded by payroll taxes. In the coming years, tax revenues may not be enough to cover the program’s costs. According to the most recent Medicare trustee report, the program’s trust funds will run out of money by 2030. That means by 2030 the program will rely heavily on taxes to survive. Solving Medicare’s financial woes is urgent.
The average household on Medicare spends $4,722 a year on out-of-pocket Medical costs.
That’s almost double what non-Medicare households pay per year for medical expenses. Healthcare costs make up 14% of the average Medicare household’s budget.
50% of Medicare enrollees have an income below $24,150 and a savings under $63,350.
The program is designed to provide health benefits to seniors from all economic backgrounds, but lower earning seniors are particularly dependent on Medicare.
31% of Medicare enrollees are enrolled in a Medicare Advantage Plan (Part C)
Medicare Advantage plans offer benefits beyond original Medicare, like expanded health services, annual out-of-pocket limits, and health coverage outside of the U.S. Since 2004, the number enrolled in Medicare Advantage plans has tripled from 5.3 million to 17.6 million in 2016.
Medicare Part A will come with a $1,316 deductible per benefit period in 2017.
While most Americans do not pay a premium for Medicare Part A, the out-of-pocket costs for services under Part A can be extremely high, especially for older Americans living on a fixed income.
Learn more about Medicare by following GetBestMedicare on Facebook & Twitter for the latest Medicare and news for seniors.