Guest Bloggers, Medicare

Medicare for You: What You Need to Know (Part 2)

April 13, 2023 • By

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Last Updated: April 13, 2023

Cropped shot of a mature man working on his laptop at homeThis is part two of our series on Medicare benefits. Did you miss the first blog? Please check it out here.

Did you know you can save money on Medicare costs this year? The Inflation Reduction Act which President Biden signed into law in August 2022, will help you save money on Medicare prescription drug costs and recommended adult vaccines starting in 2023.

Let’s explore a few of the ways that this new law will lower your Medicare prescription drug costs.

If you:

  • Have Medicare prescription drug coverage – you’ll pay nothing out-of-pocket for recommended adult vaccines (including the shingles vaccine) starting in January 2023.
  • Take insulin covered by your Medicare drug plan – you’ll pay no more than $35 in cost-sharing for a month’s supply of each covered insulin product starting in January 2023.
  • Take insulin through a pump covered under Medicare’s durable medical equipment benefit – you’ll pay no more than $35 for a month’s supply starting in July 2023.

Starting in 2025, annual out-of-pocket costs for people with Medicare prescription drug coverage will be capped at $2,000 thanks to the Inflation Reduction Act.

Medicare Savings Programs

If you have limited income and resources, you may qualify for Medicare Saving Programs administered by your state Medicaid program. These programs could help save you money on health and prescription drug costs and reduce your Part B premium. For more information, contact your state Medicaid program or call 1-800-MEDICARE and ask about Medicare Savings Programs.

Medicare is here to help

Having Medicare means you’re getting the health care coverage you need to stay safe and healthy. That’s our priority at the Centers for Medicare & Medicaid Services. We’re here to help you compare Medicare coverage choices and learn about options to help pay for your Medicare costs.

Please visit to learn more about Medicare. We encourage you also to access personalized health insurance counseling at no cost. This is available from your State Health Insurance Assistance Program (SHIP). To find your local SHIP, visit or call 1-800-MEDICARE. Many SHIPs offer virtual counseling.

Please share this article with your loved ones – and post it on social media.

Traditional or Original Medicare, Medicare Advantage Plans, and Medicare drug plans are administered by the Centers for Medicare & Medicaid Services. 

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  1. Mimran s.

    It is the duty of the government of every country to take care of the health of its citizens because only healthy citizens create a healthy country. This is the basic right of every citizen of every country, but unfortunately in some countries the citizens are not getting basic facilities. complete facilities are a long way off. i am founder of and i always research on health related issues but i am not satisfied with this management

  2. KM

    It’s frustrating to be unable to reach anyone by phone. I spent an hour online with SHIP and finally was told to leave a message. I’m currently on hold with SSA to try and schedule an appt with someone, as it’s confusing to try and figure out financing in terms of working while on social security, among other things. I’ve been on hold for 30 minutes so far… I’ve been searching online the entire time to try and find answers to some of my questions. One question is: If I don’t apply yet for social security (I’m working part-time and am not at full retirement age) but I AM signing up for Medicare parts A and B, how do I pay for that? It looks like I will only be paying for part B, but if I’m not drawing social security retirement yet, it can’t be withdrawn from that payment. Does it come out of the social security taxes I’m paying through my employer? Will I be billed monthly? I can’t find any information anywhere regarding this.

    • Ann C.

      Hi, KM. Thanks for visiting our blog. If you get Social Security, Railroad Retirement Board (RRB) or Civil Service benefits, your Medicare Part B (Medical Insurance) premiums will get deducted from your benefit payment. If you don’t get Social Security payments, RRB, or Civil Service benefits, you’ll get a bill called a “Medicare Premium Bill” (CMS-500). For more information, visit Medicare’s website. We hope this helps. 

  3. JohnJ

    Hello – I turn 65 this month and have been approved for Part A but deferred electing Parts B thru Z as I am covered by my spouse’s plan until the end of the year. I stated that on my application thinking I would qualify for SEP.

    I recently received a letter from SSA stating “You have through October 2023 to sign up for Medicare Part B (medical insurance).”

    Rather than trying to fight for an exemption until the end of the year, I (reluctantly) decided to pay for the additional 3 months, but my research timeline is also compressed and I need help. While on the surface, the information provided on the SSA & Medicare sites is generally good, but it falls apart with all the complex “fine print” that can only be the work of decades of politicians!

    Since I’m just starting on this quest, I need help with both the basics and eventually the final decisions. Ideally, a third-party site with no skin in the game (nothing to sell) that is factual and unbiased, and brings forth the truly important facts/advice I should consider so I can ask the right questions.

    For making decisions, I’m wondering if there is a comparison site, also unbiased, that would allow me to see an apples-to-apples comparison of different plans. Since the start of the year, I have a folder of mailings approaching 2” thick and since it’s marketing material, direct comparisons are impossible.

    For the record, I’ve talked to both my insurance and financial agents but take their advice with a grain of salt since they have products to sell. If anyone knows any site(s) that would be helpful to me, I would appreciate a direct link; thanks!

  4. Ann L.

    I am attempting to reach my student loan provider and they ask for my SSI number. Is this allowed?
    How do I know if they are legit or a scam?

  5. marom

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