Medicare Part B Premiums May Increase Due To Expensive Alzheimer’s Drug

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We are all thrilled that a new drug has been approved by the Food & Drug Administration (FDA) to treat Alzheimer’s disease.  It has been over a decade since a new drug has been introduced to treat this horrible condition.   As regular readers of my blog know, both my father and my grandmother had Alzheimer’s disease when they passed away.  I asked Nana when she was 94 if she knew who I was and she looked at me for several minutes trying to come up with a name.  Finally, she said, “I don’t know who you are but I know that you love me.â€Â  On the bad news side of the equation of Leqembi is that it’s very expensive and could drive up Medicare Part B premiums by almost $10/month in 2024.   The drug will be the third most costly drug covered by Medicare Part B, according to the non-profit health researcher KFF.  Another estimate from a non-partisan seniors group The Senior Citizens League, estimates that the drug will add $5/month to the tab for everyone who has Medicare Part B.

There was a 15% increase in premiums in 2022 when another Alzheimer’s drug, Aduhelm, was approved by the FTC and hit the market.  The Senior Citizens League has projected a 3.0% cost of living, or COLA, in 2024, and a Part B premium increase of 8.7%.  Medicare is estimated to cost about $5K/year to Medicare recipients who take the new drug, with $26,500 the government paying the balance of the treatment, according to KFF.

Carmel, CA Elder Abuse Alert

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The Federal Trade Commission, or FTC, tracks a wide array of scams which target seniors in affluent areas of the country including Carmel, Pacific Grove and Pebble Beach.  A typical approach is to call you and say they are from a government agency and say that you owe taxes or a fine.  They will typically ask you for a gift card, which is untraceable.  Don’t fall for this, a government agency would never ask for a gift card.  In my opinion, the best way to avoid most of these fraudulent schemes is to use caller ID and if you do not recognize the number don’t pick up the phone.  Scammers are getting more sophisticated so even if it is from an 831 area code this number may have been “spoofed†and the caller can be from anywhere.  For more information, visit the website www.ftc.gov/giftcards

Pacific Grove, CA Elder Abuse Alert

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The Federal Trade Commission, or FTC, tracks a wide array of scams which target seniors in affluent areas of the country including Carmel, Pacific Grove and Pebble Beach.  A typical approach is to call you and say they are from a government agency and say that you owe taxes or a fine.  They will typically ask you for a gift card, which is untraceable.  Don’t fall for this, a government agency would never ask for a gift card.  In my opinion, the best way to avoid most of these fraudulent schemes is to use caller ID and if you do not recognize the number don’t pick up the phone.  Scammers are getting more sophisticated so even if it is from an 831 area code this number may have been “spoofed†and the caller can be from anywhere.  For more information, visit the website www.ftc.gov/giftcards

Pebble Beach, CA Elder Abuse Alert

An older woman with a gray hair sitting in front of trees.


The Federal Trade Commission, or FTC, tracks a wide array of scams which target seniors in affluent areas of the country including Carmel, Pacific Grove and Pebble Beach.  A typical approach is to call you and say they are from a government agency and say that you owe taxes or a fine.  They will typically ask you for a gift card, which is untraceable.  Don’t fall for this, a government agency would never ask for a gift card.  In my opinion, the best way to avoid most of these fraudulent schemes is to use caller ID and if you do not recognize the number don’t pick up the phone.  Scammers are getting more sophisticated so even if it is from an 831 area code this number may have been “spoofed†and the caller can be from anywhere.  For more information, visit the website www.ftc.gov/giftcards

Great News For Those With Hearing Loss

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There is good news for those suffering from hearing loss—you can now buy a hearing aid without having a doctor’s examination or a prescription, thanks to a new Food and Drug Administration (FDA) rule.  It allows for the retail sale of hearing aids for people with mild to moderate hearing loss.  A report by the Federal Government estimated that 28.8 million people could benefit from a hearing aid, but currently only 1 out of 5 people who need one get it.

FTC Says Companies Using Sophisticating Technology To Invade Privacy

A woman is helping an older man with his shirt off.


The Federal Trade Commission (FTC) released a report recently about how companies deploy “dark patterns†in advertising for enticing potential customers, manipulating them into buying their products while at the same time giving up their privacy.  The report came following a 2018 lawsuit against Lending Club Corp. which eventually agreed to pay out nearly $10 million to 61,990 consumers who were charged hidden fees while the company advertised that there were hidden fees.  In fact, Lending Club was slicing money right off the top as the loan was being funded.  The FTC outlined three principles companies must follow or risk being sued by the FTC:

Disclose clearly and accurately the material terms of the sale contract such as costs, deadlines to cancel, frequency of charges, and disclosure of essential information;

Obtain the customer’s informed consent before the payment is made; and

Provide an easy and simple cancellation process.