HealthCare in Retirement

Medicare has been changing yearly and 2026 will be no exception. What is ahead for Medicare this fall and why?Carriers are still feeling the effects of the Inflation Reduction Act, which passed in 2022, but just took full effect in January of 2025. Beginning January 1, 2025, people with Part D plans through traditional Medicare and Medicare Advantage plans with prescription drug coverage, won't pay more than $2,000 over the calendar year in out-of-pocket costs for their prescription medications, the donut hole or coverage gap is eliminated and there is a new payment plan to spread drug costs through the year. Those changes came at a cost to other benefits. The Inflation Reduction Act significantly increased the carriers expenses and in response benefit cuts occurred for 2025 and will continue for 2026. Carriers had to absorb the steep cost increase for the mandatory prescription drug plan changes by balancing the budget, which included increases in beneficiaries copays, deductibles added to plans, the plan maximum out of pocket increased, non-medical benefits were reduced, a prescription drug deductible was added, and prescriptions were re-tiered or eliminated from the list of covered drugs. 2026 will see further adjustments as the carriers remove most benefits deemed non-medical. Seniors who have grown accustomed to benefits such as an over-the-counter allowance or food subsidy may see those benefits sharply reduced or eliminated this fall. Plans must be submitted to Centers for Medicare & Medicaid Services for approval in early spring to be ready for the enrollment period in fall to be active for the following calendar year, so carriers have had little time to study the impact of the Inflation Reduction Act on overall costs. Insurance moves slowly. The changes we are feeling in 2025 are the result of a bill passed in 2022 and will continue to affect plans in 2026. This fall will feel like a continuation of the benefit cuts seniors faced in the fall of 2024 as carriers work to balance the budget while considering the increased prescription costs and trying to maintain the plan benefits seniors rely on. For more information visit: aismedicareandmore.com Editors Note: This article was submitted by Jolynn Allen with AIS Medicare & More.  Jolynn is the owner of AIS Medicare & More and may be reached at:  719-404-3202

Why Hire an Elder Law Attorney? Elder law attorneys specialize in estate planning, incapacity planning, and end-of-life care for seniors, helping them remain in their homes and protect against abuse. They are essential in planning for the future and addressing the needs of a vulnerable population. How Can an Elder Law Attorney Help? Long-Term Care Planning: As the number of Americans over 65 is projected to exceed 80 million by 2040, planning for long-term care is increasingly important. Elder law attorneys assist seniors in creating financial plans to cover essential needs like food, rent, and medical care. They also guide clients in applying for public benefits such as Medicaid and Medicare. Housing: Many seniors wish to age in place. Attorneys can represent clients in landlord-tenant disputes, helping them navigate issues like city ordinance violations. They also protect seniors against housing discrimination under the Fair Housing Act. Estate Planning Document Preparation: Elder law attorneys draft critical documents such as wills, health care directives, and powers of attorney, ensuring that seniors rights are protected regarding retirement benefits and medical decisions. A solid estate plan reduces family stress and potential inheritance disputes. Incapacity Planning: Attorneys can help document care wishes for seniors facing disabilities or conditions like dementia. With the rising number of Alzheimers cases, having a plan for incapacity is vital for protecting financial and physical well-being. Guardianship: In cases where an older adult cant make decisions due to conditions like dementia, attorneys assist family members in securing guardianship, which involves legal proceedings and court hearings. They can also advocate for the seniors autonomy by exploring alternatives to full guardianship. Combating Elder Abuse: Elder abuse is a significant public health issue, affecting one in six adults aged 60 and older. Elder law attorneys are well-versed in the rights of seniors and can provide legal recourse against abusers while implementing safeguards like advance directives to protect against financial exploitation. By addressing these diverse needs, elder law attorneys play a critical role in supporting the aging population and ensuring their rights and well-being are protected. Editors Note:  This article is for informational purposes only and is not intended to be legal advice.This article was submitted by Ashley Day, Esq.  Reach her at 251-277-3377.      

Many Colorado Seniors and Disabled Adults are concerned about the recent funding discussions about Federal, not State, Medicaid changes, and how they might impact Long-term Care Medicaid benefits here in Colorado. There are 40+ different Medicaid programs in the State of Colorado alone, which are funded differently. Some of these Medicaid programs will be impacted by Trumps changes.At this time, it is important to know that the Medicaid changes imposed do not affect Long-term Care Medicaid in Colorado. If you are currently receiving Long-term Care Medicaid benefits or considering applying, you can rest assured that your eligibility, services, and coverage remain intact. Long-term Care Medicaid has already been funded for 2025, therefore nothing will change this year. In addition, there have not been any major changes to Colorado Long-term Care Medicaid in 20 years, and we dont foresee any changes now. In the meantime, if you have any questions about your coverage or need assistance navigating the Long-term Care Medicaid process, please dont hesitate to reach out to Beneficent. www.DoingGoodForOthers.com/contactus