Update and further clarification on higher Social Security monthly benefits as a result of that big announcement that was just recently made. I have all the details for you and everything you need to know right here in this video. as information continues to change very, very fast right now, especially for those of you living on a small fixed income like Social Security retirement, SSDI survivors, SSI, VA, and RRB, as well as low income, low income seniors, elderly people with disabilities, and so many other people out there right now that are low income or struggling during this very confusing and difficult time. But I’m doing all the research, breaking it all down into these short topics.
All right, so first off, let’s quickly talk about this big announcement that just came out yesterday. I want to give you the latest details on this thing, let you know where we currently stand on this, and the new information that I recently found just before coming on in this topic right here. So there’s a lot of moving parts on this thing right now. We’ve got to watch it closely because I do know that it’s going to impact a lot of you right here in this community living on a fixed income. So let’s talk through the latest details on this thing. First off, if you did not see that topic from yesterday.
I saw it as an announcement and I thought, oh, this is a good one. All right, so we’ve been waiting for this announcement out of the Centers for Medicare and Medicaid Services.
Well, Medicare came out yesterday and announced their final analysis on that very expensive prescription item for Alzheimer’s. Right. So this is the one that costs $56,000 a year per patient. But then they cut the price in half down to a little bit over $28,000 a year. However, since the beginning of 2022, they’ve been collecting over $11 per month in your Medicare Part B premium as a result of this one prescription item.
So as a result of that, they’ve been wondering, OK, what are we going to do with this thing? Are we going to cover it for everybody or not? Well, the final analysis and their announcement yesterday shows that they will continue to cover this prescription item only for those patients who are enrolled in a clinical trial. Therefore, according to the analysis on this and what they’re anticipating across the entire country, there’s about one. 5 million patients who would be eligible for this.
However, considering the new restrictions on this thing only for those patients enrolled in a clinical trial, this is going to dramatically cut down the number of patients that are actually going to be taking this prescription item. They’re actually anticipating about 10% of that 1.5 million people, which would only be about 150,000 people. So with that being said, that means that we’re potentially looking at a pretty big cut to the Medicare Part B premium. Now, here’s what I can say so far. I have not seen an official number being announced quite yet.
However, as of just minutes ago, right before I started writing this topic again, I was doing more research on this, digging into everything I possibly could on this, because I want to find some solid numbers for you, because I know that a lot of you here are paying on your Medicare Part B premiums every single month that is automatically deducted from your monthly benefit. Right. You know how the process goes, right? It is not a fun premium to pay it’s over $170 a month right now. That’s a lot of money for Medicare Part B, which honestly doesn’t even cover all that much.
Right? I think we’ve all seen the bills on that thing. Right? So anyway, my point is I have not seen any solid numbers yet. Nothing has been announced as far as okay, the Medicare Part B premium will be decreased by X dollars.
I have not seen a dollar amount. However, I did just get done reading some new information on this where they are playing around with the ideas and they are kind of calculating, running some numbers on this thing to determine how much they can reduce the Medicare Part B premium, which would ultimately flow back to you in a little bit higher benefit for you each and every month. This is good news, right? This is a good thing. We’re not talking $100.
I’m just going to be honest with you. We’re not saying $100, and it’s probably not going to be $50 either. But it will be potentially something that’s possibly a little bit exciting. It’s not going to be life-changing money. I’m just going to say that right now, but it will be a little bit more for us in our pockets each and every month. So again, a good thing, right. So now that we have this final analysis out of Medicare. Now we need to wait for the final analysis and the final announcement, which should be coming literally any day now out of Medicare. And of course, the Secretary of the Health and Human Services Department to determine what is going to be the reduction to the Medicare Part B premium. However, as we’ve talked about before and according to what I was just reading on this literally minutes before recording this video, I was reading this information and they were saying, yes, absolutely.
They are considering and they’re calculating how much the reduction to the Medicare Part B premium will be, again, a good thing, Right. Because the less that we pay in a Medicare Part B premium every single month just means that it’s more money in our pockets because that’s just money that they won’t be taking from us. Right. So, for example, let’s just say, for example, you receive a $1,000 monthly benefit.
Again, I’m just making up numbers just to make it easy here for the calculations. Let’s just say that you have a $1,000 benefit while they take out $170 for the Medicare Part B, reducing your benefit down to $830. Right. But let’s just say that they boost that back up by only taking, say, for example, $160 for Medicare Part B premiums. Again, it would kind of roll over into your benefit going from 830 to 840 kind of makes sense.
So again, I’m just giving examples here. We don’t have any solid numbers quite yet. But I just wanted to give you a quick example to let you know what this would look like on your benefit. They are looking at this and it looks like a real thing that should be announced here relatively soon. So this is actually very exciting.
So when it comes to this announcement and everything we have going on right here, again, the questions that I had in my topic yesterday are still outstanding. I do not have answers for those quite yet, which are are we going to get some retroactive reimbursement here? So now that they’re considering lowering the premium, I want to know, are they going to reimburse us for all the months that we’ve already been paying on the higher Medicare Part B premium? Can you get what I’m saying? So let’s say that they reduce the premium by, I don’t know, $10 a month.
Are we going to get a refund for $40 since we’ve already paid four months worth? Can you get what I’m saying, or are we just kind of out that money? Can you get what I’m saying on all this? So I want to know the answers to this. And again, this has not been announced quite yet.
At least I have not found it. I’ve been watching this stuff very closely because I do know that it is going to impact a lot of you here in the community, and I want to make sure that I’m doing as much as I possibly can. So also, as far as further clarification on this, this information was just released yesterday, actually late in the afternoon. It was released just before 05:00 p.m.. Eastern time.
This announcement came out. So it was pretty hot off the wire. I brought it to you, like literally about an hour after it was released. I did all the research. I like to cross reference everything.
And I brought that video to you about an hour later after it was announced. So this is all still relatively new here, but I’m anticipating that we should be getting some more information today. Considering what I was just reading on this, it looks like there probably is going to be some announcements coming out today. Again, I’m going to have my ears to the ground listening for all the vibrations and the announcements or whatever elephants do or something like that, whatever the saying is. But anyway, I’ll be watching everything very closely because I want to make sure that I’m getting all this information.
But as far as further clarification goes, I just want you to know that nothing is really set in stone until we get these final announcements out of Medicare. And of course, the Department of Health and Human Services, the Secretary. It sounds like we should be getting some announcements out of these people very, very soon here. But anyway, it looks a little bit promising, as I said yesterday, finally, maybe a little bit of a win coming for about 63 million beneficiaries. It’s not a ton. It’s not a one $400 stimulus check. It’s not a $2,000 stimulus check. It is not a $200 per month raise to our benefits. But you know what? At this time, I think any of us would be glad to take a little bit of a win, even if it means a $10 win on a monthly basis.
Again, it’s not much, but the deal is a win is a win, considering it seems like every time we turn around, they continue to defeat us. Every single time that we try to get ahead a little bit, they’re like, oh, just kidding. We’re going to charge you more for this, that, and the other thing, right. It just gets really old really fast. And I think a lot of us in this community are getting really sick of struggling these days.
Right. So anyway, please remember, I’m here for you in any way that I possibly can be. Looks like we should be getting some pretty good updates here relatively soon as I do get that information. Of course. I’ll be right back here for you breaking it down, answering the questions, giving you all the information you need to know.
But finally, this analysis, this final announcement came out yesterday. The deadline was April 11. And shockingly, they announced it yesterday. Honestly, I couldn’t believe it. Usually they wait until the very last minute to bring us the announcements when they have a deadline like that.
And they brought it to us about four days early. So I’m shocked. I’m completely shocked that they brought it to us early. We almost never see things come early these days. Right
Leave your feedback down below. I do read as many comments as I possibly can each day, and of course, I respond to as many as possible as well. And if I need to make a dedicated video to answer more questions or offer additional clarification on anything, of course, I can do that for you as well. I’m researching this stuff very heavily these days because I’m always doing research. But realistically, when I see something like this that I know is directly impacting those of you right here in the community yes it’s all hands on deck and I’m watching stuff very closely so again hope you’re having a nice day so far please enjoy your day stay safe out there. I’ll catch you again later with the next updates crossing our fingers it is good finally please give us something good right?
I’ll catch you again later in the next topic alright.