Medicare 2016--what that means for seniors' healthcare

Medicare is a good topic for this forum.

After reading this Kiplinger report on a potential rate increase for Part B in 2016, I can see why PS was hesitant to offer an immediate opinion about "what this means."  There are so many possible permutations, current Medicare enrollees can't currently figure out from this whether their Part B rate will stay the same, go up about $15 a month or jump significantly higher.  The 2016 rate won't be announced until October, according to Kiplinger.

Costs aside, Expats residing in Ecuador who turn 65 need to give serious thought as to whether they would uproot from here to the U.S. if a serious health problem comes up.  Medicare does not cover medical costs generated here.  Such uprooting, even if considered temporary, could be a logistical nightmare.

Also, if an Expat here has coverage from Parts A (no additional cost for those who paid into the system for years) and Part B (currently $104/month), a Medicare patient can still run up heavy bills in the U.S. if lacking the additional MediGap coverage. 

The EC government's IESS alternative is available to Expat residents of all ages at www.iess.gob.ec ...  It requires Spanish-language aptitude.  Cost is $73/a month, about $10 more for a couple.

65+ may also need to determine if the IESS government coverage in their particular EC community might be reliable in a crisis.  Due to infrequent Internet postings to date, this could be a real challenge to deduce.

cccmedia in Quito

So if someone getting $1,600/month SS benefits gets a 1%increase, it will cover the $16/month increase in Part B medicare.  Most retirees realize that inflation is the biggest threat to depending only on SS for retirement funding, are happy if their net SS stays the same.

Without disputing anything in mugtech's post, it's worth noting the Kiplinger article says that if SS recipients don't get a 2016 cost-of-living increase in benefit payments, most will not get hit with a Part B premium increase.

cccmedia in Quito