Is Medigap Insurance Tax Deductible?
Posted: February 6, 2022
If you have Original Medicare along with a Medigap insurance plan, your Medigap premiums are tax-deductible. They are treated as a medical expense on Form 1040, Schedule A, Itemized Deductions and subject to the same guidelines as any other medical expense in this category. As with other medical expenses, to be able to deduct your Medigap premiums, you must be itemizing deductions. Only the portion...
How Do Medicare Advantage Plans Work?
Posted: January 21, 2022
Medicare has four different parts -- Part A (hospitalization), Part B (healthcare services), Part C (Medicare Advantage Plans), and Part D (prescription drug coverage). Medicare Advantage Plans are an alternative to Original Medicare for Part A and Part B coverage. These plans are offered by private companies approved by Medicare and administered according to set Medicare rules. Because they work like private health insurance, Part...
5 Winter Safety Tips for Seniors
Posted: January 6, 2022
Ice, snow, and freezing temperatures can make life more challenging for seniors during the winter months. Slippery walkways and bone-chilling colds can lead to serious injuries and illnesses, particularly for older adults. These tips for winter can help keep seniors safe. Dress Warm to Prevent Hypothermia Hypothermia is a risk for older people living in regions with colder temperatures in winter. This condition occurs when...
Mental Health Care: Is It Covered by Medicare?
Posted: December 21, 2021
Medicare covers screening for depression, once a year, at no cost. Medicare also covers various other types of mental health services. A person on Medicare may feel depressed, particularly during the pandemic, when they have been less willing or able to engage in the usual social activities or spending time with loved ones. Symptoms of Depression Depression comes with a set of symptoms, which include:...
How to Choose the Right Medicare Supplement Plans
Posted: December 6, 2021
Medicare supplement plans come in various shapes and sizes – and there is no “one size fits all” plan. These plans help with the out-of-pocket costs not covered by Original Medicare such as copays, coinsurance, and deductibles. Choosing the right plan requires looking at your budget and what plan would work best for your needs, based on the types of coverage and the cost. Types...