what would trump mean for medicare recipients

Did president Trump sign these Medicare changes into law?

President Trump signed these Medicare changes into law. Here’s what to watch for Editor’s Note: Journalist Philip Moeller is here to provide the answers you need on aging and retirement.

Will Trump's budget protect Medicare and Social Security?

His budgets have sought cuts. President Trump vowed Thursday that he “will protect Medicare and Social Security” — a promise akin to one he made as a candidate in 2016. But throughout his first term, he repeatedly tried to cut these programs in his proposed budgets.

Is the Trump administration finally doing something to lower prescription drug prices?

If this wasn’t enough, the Trump administration finally seems ready to make good on its repeated commitment to do something to lower high prescription drug prices for Medicare beneficiaries. The Council of Economic Advisers issued a report late last week laying out many ideas.

What changes did Congress make to Medicare Advantage plans?

Congress also made numerous and potentially far-reaching changes to the rules for Medicare Advantage plans. That includes allowing such plans to pay for limited long-term care expenses – something that until now has not been covered by Medicare.

What would happen if Medicare was privatized?

Privatized plans generally cost the Medicare program more money and can erect barriers to proper care, in the form of higher out-of-pocket costs, denied claims, and limited networks of health care providers. In other words, patients suffer while the private plans make billions.

Is Medicare being privatized?

A new Medicare privatization scheme developed under President Donald Trump and now being expanded under President Joe Biden is forcing hundreds of thousands of seniors onto new private Medicare plans without their consent.

Who enrolls most in Medicare?

UnitedHealthcare and Humana have consistently accounted for a large share of Medicare Advantage enrollment. UnitedHealthcare has had the largest share of Medicare Advantage enrollment since 2010. Its share of Medicare Advantage enrollment has grown from 19 percent in 2010 to 27 percent in 2021.

Is Medicare coming to an end?

Let's get right to the point: Medicare is not going “broke” and recipients are in no danger of losing their benefits in 2026. However, that does not mean Medicare is healthy. Largely because of the inexorable aging of the Baby Boomers, program costs continue to grow.

Why do doctors not like Medicare Advantage plans?

If they don't say under budget, they end up losing money. Meaning, you may not receive the full extent of care. Thus, many doctors will likely tell you they do not like Medicare Advantage plans because private insurance companies make it difficult for them to get paid for their services.

Is Medicare at 60 Still Alive?

The Presidents Proposal for Medicare at 60 This was part of his health care reform platform during the presidential race. Currently, the age at which one becomes Medicare-eligible is 65. Individuals under 65 can obtain Medicare if they collect SSDI for 24 months or are diagnosed with ALS or ESRD.

What state has the most Medicare recipients?

CaliforniaIn 2020, California reported some 6.41 million Medicare beneficiaries and therefore was the U.S. state with the highest number of beneficiaries....Top 10 U.S. states based on number of Medicare beneficiaries in 2020.CharacteristicNumber of Medicare beneficiariesCalifornia6,411,106Florida4,680,1378 more rows•Feb 4, 2022

What percent of seniors choose Medicare Advantage?

[+] More than 28.5 million patients are now enrolled in Medicare Advantage plans, according to new federal data. That's up nearly 9% compared with the same time last year. More than 40% of the more than 63 million people enrolled in Medicare are now in an MA plan.

What are the cons of Medicare?

Cons of Medicare AdvantageRestrictive plans can limit covered services and medical providers.May have higher copays, deductibles and other out-of-pocket costs.Beneficiaries required to pay the Part B deductible.Costs of health care are not always apparent up front.Type of plan availability varies by region.More items...•

What changes are coming to Social Security in 2022?

Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 5.9 percent in 2022. Read more about the Social Security Cost-of-Living adjustment for 2022. The maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $147,000.

What would happen if Medicare ended?

Payroll taxes would fall 10 percent, wages would go up 11 percent and output per capita would jump 14.5 percent. Capital per capita would soar nearly 38 percent as consumers accumulated more assets, an almost ninefold increase compared to eliminating Medicare alone.

What changes are coming to Medicare in 2022?

Changes to Medicare in 2022 include a historic rise in premiums, as well as expanded access to mental health services through telehealth and more affordable options for insulin through prescription drug plans. The average cost of Medicare Advantage plans dropped while access to plans grew.

What Issues Concern You Most in This Presidential Election?

There are a few key concerns that older adults want to address in this election, according to a recent AARP poll. ( 1 ) The candidates’ plans for managing the COVID-19 crisis top the list this year, and you’ve likely seen an onslaught of media coverage intended to help you solidify your stance on this issue.

Where Trump and Biden Stand On Medicare

President Trump has not yet offered an official plan for Medicare during this campaign. But the Trump administration’s 2021 budget proposal ( 2 ) is perhaps the best indication of his future agenda. In this budget proposal, the administration says it will:

Where Biden and Trump Stand on Prescription Drug Prices

Perhaps one of the few issues where the two candidates find common ground is the need to control prescription drug prices, and the American public agrees. According to a recent poll, more than 81 percent of voters over 50 say that a candidate who ignores the rising cost of prescription drugs risks losing their vote.

What Trump Has Done to Lower Drug Prices

Throughout his first term, Trump has reiterated his 2016 campaign pledge to lower prescription drug costs. During the 2016 campaign, Trump also voiced support for repealing the law that prevents Medicare from negotiating drug prices with pharmaceutical companies. Since taking office, however, he has not furthered this agenda. What he has done, is:

The Takeaway

Trump and Biden as presidential candidates have acknowledged the complexities and challenges of two issues that matter greatly to America’s older generation: Medicare and prescription drug prices.

Editorial Sources and Fact-Checking

Bunis D. Top 5 Issues That Will Determine How 50-Plus Americans Vote. AARP. August 3, 2020.

What are the changes to Medicare?

Two items buried in Trump’s budget call for big changes to Medicare 1 Trump’s budget is essentially a rundown of administration priorities and goals versus a mandate, and any changes to the program would need to make it through Congress. 2 One of the proposals would let Social Security recipients opt out of Medicare Part A, which currently is tricky to do. 3 The other aims to give Medicare recipients the ability to contribute to health savings accounts and to medical savings accounts.

Can I contribute to an HSA if I have Medicare?

However, as mentioned, you can’t contribute to an HSA if you’re on Medicare, even if just Part A.

Fact check: 'Record' job gains still leave the U.S. labor market in worse shape than Great Recession

On the last night of his party’s convention, President Trump bragged about “record” job gains in recent months, but the 9.1 million jobs he touts come with some qualifiers.

Trump usually includes new material in major speeches. Not tonight

President Trump spoke for roughly 70 minutes on Thursday, one of the longest convention speeches in modern history.

Trump speech missing several of his favorite talking points

While President Trump launched attack after attack on Joe Biden, he left out a number of his favorite topics of criticism in his acceptance speech.

Fact check: Trump claims Biden wants to 'close all charter schools.' That's false

"Biden also vowed to oppose school choice and close all charter schools, ripping away the ladder of opportunity for Black and Hispanic children," Trump claimed on Tuesday night.

Fact check: Trump repeats out-of-context Biden comment to mislead on police stance

President Trump, arguing that Americans wouldn't be safe under Joe Biden, repeated a claim Mike Pence made Wednesday, quoting the former vice president as saying, "Yes, absolutely," as a response to whether he'd broadly support cutting funding for law enforcement.

Fact check: Trump boasts of delivering PPE early in pandemic, doesn't mention ongoing shortages

"We shipped hundreds of millions of masks, gloves and gowns to our frontline health care workers.

Trump mentions Kenosha, not Jacob Blake

Midway through his speech Thursday, Donald Trump mentioned Kenosha, Wisconsin — but did not make mention of Jacob Blake, who was shot seven times in the back by the city's police.

When will Medicare waive late enrollment penalties?

To help them with this transition, Medicare has waived late-enrollment penalties until the end of September.

How much does Medicare pay for Part B and D?

Medicare’s high-income premium surcharges will carry even more of a bite for wealthier enrollees. Those making more than $500,000 a year ($750,000 for couples) will pay 85 percent of the actual costs of Part B and D in 2019, up from 80 percent this year. Most Medicare enrollees pay premiums that equal about 25 percent of these costs.

When will the coverage gap end?

The much-maligned coverage gap (or donut hole) in these plans has been shrinking for years under the Affordable Care Act, and was supposed to end in 2020, at which time consumers in the gap would pay no more than 25 percent of the costs of their drugs. That end date was moved up a year to 2019.

Does Tricare cover Part B?

Part B only pays 80 percent of covered expenses, Tricare should cover you as a secondary insurer here. You should check with Tricare about its coverage. You also could get a Part D drug plan but it’s my understanding that VA coverage is quite good for prescription drugs, making a separate Part D plan unnecessary.

Who is Phil from Medicare?

Phil is the author of the new book, “Get What’s Yours for Medicare,” and co-author of “Get What’s Yours: The Revised Secrets to Maxing Out Your Social Security.”. Send your questions to Phil; and he will answer as many as he can. Seemingly overnight, big changes to Medicare morphed from being an item on various congressional wish lists ...

Has Medicare been killed?

However, the law has already been signed by President Trump, so whether these are good changes or not is moot for the time being. Medicare’s Independent Payment Advisory Board has been killed. It was authorized by the Affordable Care Act to serve as a check on higher Medicare expenses.

Will Medicare be repealed?

It’s a more significant if largely invisible change. Medicare’s caps on covered expenses for outpatient therapy have been officially repealed.