Medicare Part B Premium Increase for 2022 Largest Ever
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Medicare Part B Premium Increase for 2022 Largest Ever

  Medicare’s Part B monthly premium for 2022 will increase by $26.60, the largest dollar increase in the health insurance program’s history, the Centers for Medicare & Medicaid Services (CMS) announced on Nov, 12. Standard monthly premiums for Part B will cost $170.10 in 2022, up from $148.50 in 2021. Medicare Part B covers doctor…

Big 2022 Social Security COLA announced after much speculation
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Big 2022 Social Security COLA announced after much speculation

Social Security recipients are looking forward to the largest cost of living adjustment in four decades in January. The tradeoff, however, is that they may need that added income to counter rising inflation. “COLAs are intended to protect the buying power of Social Security benefits but, according to consumer price data through July of 2021,…

Highest Social Security COLA increase in nearly 40 years could be coming
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Highest Social Security COLA increase in nearly 40 years could be coming

In 2021, Social Security benefits increased by just 1.3 percent, raising the average benefit by only about $20. Social Security recipients can look forward to one of the largest cost-of-living adjustments in nearly 40 years in 2022. The Senior Citizens League predicts an increase of 6.2 percent based on consumer price index data from July. “The estimate is significant,…

Employers: Tie health insurance rates to vaccination status?
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Employers: Tie health insurance rates to vaccination status?

(Bloomberg Opinion) –With the highly transmissible delta variant spreading rapidly in the U.S. and COVID-19 vaccine uptake in some areas still disappointingly low, it makes sense to push every lever available to get people protected. One underused tool is the cost of health coverage. Health insurance is a significant expense for many Americans and could…

Medicare Part D average premiums to increase nearly 5% in 2022, CMS says
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Medicare Part D average premiums to increase nearly 5% in 2022, CMS says

The Centers for Medicare and Medicaid Services has released its projections for average basic monthly premiums for standard Medicare Part D coverage in 2022, which the agency expects will be about $33 — a 4.9% increase from the $31.47 average premium in 2021. The projected average basic premium is calculated based on plans’ expectations of…

5 opportunities Social Security’s new statements offer advisors, participants
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5 opportunities Social Security’s new statements offer advisors, participants

Social Security statements already served as handy tools. But the changes that the Social Security Administration is rolling out will help advisors and clients even more. Advisors who have never used their clients’ Social Security statements to provide a clearer picture of how much they will get when they retire have been missing an opportunity, according to advisors and financial planners interviewed….

3 things your plan participants should know about the No Surprises Act
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3 things your plan participants should know about the No Surprises Act

This will be an exciting open enrollment season. For many employers, business will be again conducted in-person, and there are new consumer protections pursuant to the No Surprises Act, part of the Consolidated Appropriations Act, 2021 (Pub. L. 116-260), which will impact your health plan offering when they take effect on January 1st. While most obligations…