In 2018, Medicare Advantage plans were expanded to cover supplemental benefits for those with chronic illnesses. However, the government has now placed limits on these benefits, affecting over 4 million older Americans. Medicare Advantage plans had submitted proposals to cover non-health related services, but the Centers for Medicare and Medicaid Services (CMS) has now codified a list of services that cannot be covered, including some common procedures like cosmetic surgeries and treatments. This change could impact retirees who rely on Medicare Advantage plans for these services. Source: fool.com

A new CMS rule effective in 2026 has shot down Medicare Advantage plans’ efforts to broaden coverage. CMS has prohibited plans from covering cosmetic procedures that are not health-related, including facelifts and treatments for facial lines or collagen loss. The American Society of Plastic Surgeons reports a rise in cosmetic surgeries among people over 55, which may now be impacted by this rule change. Retirees seeking cosmetic treatments must now ensure they have saved and invested wisely, as Medicare Advantage plans can no longer cover these procedures with the new rules. Source: fool.com

Many retirees overlook a $23,760 Social Security bonus that could significantly boost their retirement income. By learning how to maximize Social Security benefits, retirees can retire with more confidence and financial security. The Motley Fool offers strategies to help retirees uncover these “Social Security secrets” and make the most of their benefits. This bonus could provide retirees with the added income they need to live comfortably during retirement. Source: fool.com

Read more at NASDAQ: New Medicare Advantage Rule Forbids Coverage of Procedures Used by Over 4 Million Seniors