If you’re a senior citizen or you care for one, you might want to clear your calendar for Thursday morning.
Verona resident Nick Frank will be holding an information session on a way to lower Medicare costs next year at the Pilgrim Diner at 10 a.m. Light snacks and refreshments will be served. The Pilgrim Diner is located at 82 Pompton Avenue, opposite the Pilgrim Shopping Center.
Frank, the president of Absolute Insurance Management, is calling 2016 a “double whammy” for people who rely on Medicare. That’s because, for only the third time in 40 years, there will be no cost-of-living adjustment (COLA) to Social Security. In addition, the cost of Medicare Part B will rise sharply for a third of the people on Medicare, from $104.90 a month to $159.30. One more bit of bad news: Prices on most of the top drug plans for seniors will also be rising.
On Thursday, Frank will speak about a new company in the Medicare insurance market: Clover Health, which is a PPO plan that is using proprietary technology to cut overhead so much that most of its plans have no deductible, no primary care co-pay and customers can see any practice that accepts Medicare anywhere in the U.S.
The open enrollment period for Medicare Advantage plans and Medicare prescription drug coverage ends on December 7.
For more information, call Frank at 973-470-8333.
