DID YOU KNOW THAT YOUR HEALTH INSURANCE IS GOING TO COST MUCH MORE NEXT YEAR?

The budget bill that the Republicans just passed is the biggest healthcare cut in history.  It is going to have a huge impact on all of us just so that they can give a tax cut to the rich.  No matter where you get your health insurance-Medicare, Affordable Care Act (ACA, also called Obamacare), private employer, and Medicaid-prices are going up

1. If you have Obamacare and get help by tax cut or financial assistance, that ends at the end of 2025.  It may result in an increase in premiums of 75% or more.
2. Medicare plans are going up. Plan B monthly premiums will likely be $206.50, about 11.6% more.  Since they are deducted from Social Security, that will lower the predicted Social Security cost of living increase for 2026 by about 40%.
3. Private health insurance such as Blue Cross/Blue Shield or Priority Health could go up as much as 17%.
4. Medicaid cuts and new work requirements involving complicated paperwork are likely to result in millions of people losing their medical coverage. 
5. Michigan’s community mental health centers depend on Medicaid for most of their income.  Services will be reduced, and estimates are that 40% could close.
6. Hospital emergency services will get stressed by so many more people without insurance seeking help.  Costs will go up and jobs will be lost.  Some will close.

What can we do?

1. Use this time to look at your budget and get ready for insurance increases.
2. Open enrollment in Obamacare/ACA starts November 1st.  Be sure to check your coverage and costs at that time.  You may need to find a more affordable plan.
3. Open enrollment for Medicare starts October 7th. Be sure to look at anticipated costs of your Plan D to see if you need to find another plan.
4. If you have a non-government plan through work, find out what next year’s costs are for medical care and prescriptions.  If high, see if another plan is offered.
5. Write to your representatives and senators in support of Healthcare for All.  59% of Americans support it.

To read more about this
Plan for Higher Health Care Costs in 2026:  Projected Medicare Part B and Part D Premiums   By Donna LeValley    Kiplinger  https://www.kiplinger.com/retirement/medicare/plan-for-higher-health-costs-in-2026-projected-medicare-part-b-and-part-d-premiums
Trump’s Health Care Law Could Double Premiums for Millions by 2026   https://thefulcrum.us/governance-legislation/big-beautiful-bill-healthcare
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