The Centers for Medicare & Medicaid Services (CMS) has announced that the standard monthly Part B premium will be $174.70 in 2024, an increase of $9.80 from $164.90 in 2023. The annual deductible for all Medicare Part B enrollees in 2024 will be $240, an increase of $14 from the 2023 deductible of $226. The increases are mainly due to projected increases in healthcare spending.
As 2024 rolls in, railroad retirees need to monitor their healthcare plans. As a member of NARVRE, you can rest assured that we have got you covered. We are committed to ensuring that our esteemed members stay well-informed amidst the ever-changing retirement benefits landscape, particularly regarding Medicare. To this end, we will host free special webinars for our members who qualify for Medicare.
Did you know that if you receive Medicare benefits through railroad Medicare, you are eligible to use Accountable Care Organizations and have access to their many benefits? In this post, we will share the benefits of these organizations and why you might consider joining them as a railroad retiree and member of NARVRE.
Important legislation has recently been passed through Congress this summer. The most recent bill to pass the House this summer was the Inflation Reduction Act (HR5376) which passed on a party-line vote 220-207 after the Senate passed the measure on a 51-50 vote margin with Vice-President Harris casting the tie-breaking vote. The President has signed the bill, and this legislative package is now law.