Medicare

To replace a lost, stolen, or damaged Medicare card, you can order a new one online through the official Medicare website, call Medicare directly at 1-800-MEDICARE, or visit your local Social Security office. Carvo Financial Group can help guide you through the process to ensure you receive your replacement card smoothly.

Medicare generally does not have the authority to take life insurance benefits from a beneficiary. Life insurance benefits typically pass directly to the named beneficiary or beneficiaries upon the insured person's death, outside of the probate process. These benefits are usually protected from claims by creditors, including Medicare, as long as they are properly designated and meet legal requirements. However, it's essential to review specific circumstances and consult with legal or financial professionals for personalized advice regarding life insurance and Medicare.

In general, Medicare premiums may be tax-deductible under certain circumstances. If you itemize deductions on your tax return, you may be able to deduct Medicare premiums, including Part B and Part D premiums, as medical expenses. However, there are specific criteria and limitations for deducting medical expenses, and it's essential to consult with a tax advisor or accountant for guidance tailored to your individual situation. Additionally, premiums for Medicare Part A, if you're required to pay them, are typically not tax-deductible since most people qualify for Part A without paying premiums.