Medicare has finalized changes that will take effect in 2019. These Medicare 2019 changes are improvements meant to offer better services to beneficiaries, while they also reduce administrative burdens on various Medicare plans.

The changes are mostly on Medicare Advantage Plans (Part C) and Medicare Prescription Drug plans (Medicare Part D). It’s estimated that the changes can lead to savings of up to $295 million every year for the program.

Nearly 2 million Americans will file for bankruptcy this year after coming into financial hardship due to the diagnosis of a medical condition. The medical expense is currently the number one cause of personal bankruptcy in America – surpassing bankruptcy as a result of credit card debt or mortgage payments.

These figures are somewhat unsurprising when you consider that two out of every 1,000 people will rack up $100,000 or more in medical bills each year. Treatment for some of the most common medical conditions such as coronary heart disease can cost insurers billions of dollars every year.