Drugs can be expensive on Medicare because of the "doughnut hole". Ie, anyone on expensive drugs ends up paying around $7K-8K a year for drugs, on top of their Medicare premium and supplemental insurance premium, which together are anywhere from $200-500 per month depending on the plan.
Medicare premiums increased 5.9% for 2024 ($9.80 increase from $164.90), while the 2024 COLA for Social Security benefits is 3.2%. So the longer you live, the worse your financial picture gets.
I am on Medicare, and ever since 2007 It’s gotten worse and worse and worse to the point now or I can no longer get care or the test because doctors are so afraid of not getting reimbursed from Medicare.
prirun|2 years ago
https://www.medicareinteractive.org/get-answers/medicare-pre...
Medicare premiums increased 5.9% for 2024 ($9.80 increase from $164.90), while the 2024 COLA for Social Security benefits is 3.2%. So the longer you live, the worse your financial picture gets.
Podgajski|2 years ago