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Jim Robeson The Medicare Answer Guy, Jim Robeson, CLU, ChFC

An Affiliate of Bridlewood Insurance

Medicare News

March 2024 Edition

My goal with this newsletter is to:

  • 1

    Keep You Informed I will be sharing current articles about the changes in Medicare.

  • 2

    Answer Your Questions I'm available to answer issues specific to you.

  • 3

    Stay Connected I want to make Medicare coverage as simple as possible.

(858) 935-9120


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We try hard to recognize every referral but if we missed anyone, please let us know.

Just send us a quick email so that we can acknowledge you. We want all of you to know that it is our privilege to serve you.

The greatest compliment you pay us is the referral of your family and friends. Thank you!!!

IMPORTANT - Please scan this QR code (using the camera on your cell phone) for additional important information from Jim.

QR code image for video message from Jim.

Big Medicare Changes Coming in 2024

Frustrated senior woman is confused and staring at her computer screen.

What's new for Medicare beneficiaries in 2024? A lot — including changes that expand care and make coverage more affordable.

For starters, Medicare's more than 65 million enrollees will continue to feel the positive effects of 2022's historic drug law aimed at curbing what older Americans pay for prescription medications. At the same time, beneficiaries will face higher premiums and deductibles for their medical care.

Also in 2024, the Centers for Medicare & Medicaid Services (CMS), the agency that runs Medicare, will continue its efforts to better coordinate the care that original Medicare enrollees receive.

Part B Premiums

Part B: The standard monthly Part B premium is rising by almost $10 - from $164.90 to $174.70. Most Medicare beneficiaries have this premium deducted from their Social Security benefits. The average monthly Social Security payment will increase by $59 a month in 2024, thanks to a 3.2 percent Social Security cost-of-living increase (COLA). That COLA will more than cover the added Part B monthly premium for most beneficiaries.

Prescription Drugs

Catastrophic cap: Under the new drug law, Medicare Part D plan members whose prescription costs are so high that they enter what's called the catastrophic phase of coverage will not have any more out-of- pocket costs for the rest of the year once they've spent $8,000 on their medications. In 2025, an annual $2,000 out-of-pocket cap on Part D spending will take effect.

Extra Help: In 2024 the new drug law is expanding the eligibility for the Extra Help program, which assists people with limited incomes in affording their prescription drug costs, such as premiums and copays. The income threshold for Medicare enrollees to qualify for that program will be 150 percent of the federal poverty level ($21,870 for an individual in 2024), up from 135 percent of poverty.

It's really important for people to see if they could qualify for that program, because it is estimated there are about 3 million people out there who are eligible and not enrolled. Medicare beneficiaries can apply for the Extra Help program through the Social Security Administration.

Extra Benefits

Most Medicare Advantage plans offer extra benefits beyond what the law requires. Most often these include some dental, vision and hearing coverage; sometimes gym memberships, transportation to doctors' offices, accessibility improvements to homes or even meals delivered to homes.

CMS officials say that often Medicare enrollees don't take full advantage of some of these extras and may not even realize they are entitled to them.

Under a proposed regulation, expected to be finalized in 2024, halfway through the year, insurers will have to send a letter to enrollees letting them know what services they are entitled to but have yet to begin using.

Personal Note

I want to thank all of you, my dear clients, for your business and trust. There have been so many changes with Medicare recently and it has been especially confusing and challenging. I'm happy I was able to help those of you who needed to make changes this past Open Enrollment. And I especially appreciate those of you who have referred your family and friends to me so that I could help them navigate the Medicare maze. My business is built on relationship and trust and I appreciate your confidence in my services. Thank you for being a valued client!!

Listen to Jim on The Word on Wealth KCBQ AM 1170
at 10:00am every 1st and 3rd Saturday

Jim Robeson CLU, ChFC

Medicare Made Easy
10755 Scripps Poway Pkwy #617
San Diego, CA 92131| (858) 935-9120

Disclaimer - We do not offer every plan available in your area. Currently, we represent 10+ organizations and over 100 products in your area. Please contact or 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.

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