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WELCOME TO OUR SEPTEMBER GAZETTE-LITE NEWSLETTER!
We have a lot of news this month including news on the recent announcement on Social Security increases for 2023, the recent Inflation Bill passage (and what it means for you).
Plus a delicious new recipe!
Lots of news this month, so let's get to it...
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ANNUAL ENROLLMENT PERIOD STARTS OCTOBER 15, 2022
Medicare Plans are always undergoing changes and 2023 Plans are no different. We will be holding many Member Meetings right here at our new office located at Sundance Corporate Center in Beaumont to review with you the changes you can expect to see in your plan. For those who are planning to stay with their current Medicare Plan please utilize these meetings, they are meant for you. If you are planning to switch to a new plan, then please call the office for an appointment. Below Is our upcoming Member Meeting schedule.
Please RSVP with your desired date and time. We are limited on space so be sure to call to schedule your spot today.
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PLAN NAME DAY DATE TIME
UNITED HEALTH CARE MONDAY OCT. 3 10:00 AM & 4:00 PM
SCAN TUESDAY OCT. 4 10:00 AM & 4:00 PM
AETNA WEDNESDAY OCT. 5 10:00 AM & 4:00 PM
UNITED HEALTH CARE THURSDAY OCT. 6 10:00 AM & 4:00 PM
SCAN MONDAY OCT. 10 10:00 AM & 4:00 PM
AETNA TUESDAY OCT. 11 10:00 AM & 4:00 PM
UNITED HEALTH CARE WEDNESDAY OCT. 12 10:00 AM & 4:00 PM
SCAN THURSDAY OCT. 13 10:00 AM & 4:00 PM
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GIFTS BAGS FOR ALL !
AS A CLIENT, WE WANT YOU TO KNOW YOU MATTER AND WE HAVE A GIFT BAG FOR ANY ONE WHO MEETS WITH US DURING OPEN ENROLLMENT. ALSO IF YOU BRING A FRIEND YOU WILL RECEIVE AN ADDITIONAL COMPLIMENTARY GIFT, AS REFERRALS ARE GREATLY APPRECIATED.
BECAUSE WE ARE LIMITED ON SPACE, THOSE BRINGING A FRIEND TO A MEMBER MEETING PLEASE BE SURE TO LET US KNOW WHEN YOU RSVP. WE LOOK FORWARD TO SEEING YOU!
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What are the Big Changes Coming
to the price of Prescription Drugs because of the "Inflation Reduction Act"?
The recently-passed legislation tackles inflation head-on with respect to drug prices. From 2019 to 2020, the price of half of the drugs covered by Medicare increased faster than inflation. Starting next year, if drug makers raise prices for Medicare-covered drugs more than inflation, they will have to pay a penalty. This will help put the brakes on price hikes and lower the federal budget deficit if drug companies increase prices. It will directly help many who have to pay a percentage of a medication’s list price, known as coinsurance.
These price negotiations will not apply to all drugs— just 10 medications in the first year, 15 more the following year, and ultimately 20 additional drugs each year. So, people cannot expect lower prices every time they walk up to the pharmacy counter to fill prescriptions, but for some there will be major savings.
The government will not negotiate drug prices for people with private insurance or no insurance. Seniors who rely on Medicare use a lot of health care and are an important voting block, but over 200 million people will still be paying unconstrained drug prices. For example, the new law provides for a cap on insulin co-pays at $35 per month, which is welcome news for people who need it to stay alive. But again, that provision applies only to the 3.3 million insulin users in Medicare, not to the millions of others who are uninsured or privately covered.
One of the most tangible provisions of the law would reduce drug costs for Medicare beneficiaries with especially high medication expenses. Out-of-pocket drug costs would be capped at $2,000 per year, saving thousands of dollars for some patients with expensive illnesses like cancer. Medicare beneficiaries would benefit from this cap each year, though the vast majority of enrollees do not have drug expenses high enough to qualify in any given year.
It will be very important to see the fine print when the new bill rolls out to the public and how it affects you directly. Definitely stay tuned.
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Social Security Checks are Looking at Largest Increase in 40 years.
Social Security recipients are on track to receive the largest cost of living increase in more than four decades next year. The 2023 Cost of Living Increase (COLA) is on track to be the highest since 1981 and currently stands to be a 9.1% increase over 2022 when the increase was 5.9%. The official announcement will take place in mid-October.
Social Security checks get an inflation adjustment every year based on the Consumer Price Index for Urban Wage Earners and Clerical Workers. In determining the cost of living adjustment, or COLA, the Social Security Administration compares the average figures for July, August and September to the index’s average level over the same period a year earlier.
Medicare recipients were hit especially hard on Part B premiums in 2022 with a 14.1% increase to $170.10. Current expectations are for Part B premiums are to remain constant for 2023.
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TO THOSE OF YOU WHO HAVE REFERRED CLIENTS TO US - WE APPRECIATE YOU!! PLEASE BE SURE TO HAVE YOUR REFERRAL TELL US YOUR NAME WHEN THEY CALL US SO WE CAN SEND YOU A THANK YOU GIFT!
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WE ARE ALWAYS HERE TO ANSWER QUESTIONS REGARDING YOUR BENEFITS OR PROVIDER
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GETTING A GOOD DENTAL PLAN CAN BE A REAL CHALLANGE!
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While many Medicare plans do have dental coverage included, often times they do not meet our needs or expectations. Having a favorite dentist is common and many times the dental coverage in your Medicare Plan does not cover your preferred dentist. If this is a problem you have experienced and would like to discuss other dental options, please give our office a call...951-769-0005
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This delicious and hearty stuffed bell pepper soup has all the flavor in it just like the classic stuffed peppers we love. Super easy to make and super delicious.
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Aloha From Maui! Moonrise over Litchfield Hills
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Layna and Cali Girl! Being a Papa is wonderful!
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STATES WE ARE LICENSED TO ASSIST:
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Has Your Address Changed? Do you have a New Phone # or Email? Please contact us to update your information so we can better serve you. You can call us at 951-769-0005 or email us your new information at info@litchfieldins.com
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Everyone Has a Plan
Anyone who has an estate has a plan, whether they realize it or not. It’s either the government’s plan of probate or it’s having a personalized custom plan with the “centerpiece” being a revocable living trust.
Most people don’t realize the importance of having an estate plan and therefore they resort to either having nothing or in having a last will and testament. In either case, the estate is going to be subject to the probate court process.
It is also possible for people to have an estate plan with a living trust and still be subjected to probate court. A common mistakes made when having a living trust created is ... No one makes sure that the trust is properly funded. If not properly funded, the estate is settled in court!
We want to provide a resource to our clients should they want to set up an Estate Plan. John Roberts is an experienced Retirement Advisor and he is the resource we trust. He provides many retirement services including a comprehensive Living Trust that it is properly funded, and the cost is half what an attorney firm would charge. The best part is any future changes to the Trust are done at no additional fees.
There are no attorney's to visit your office, your home or even on Zoom. Everything is at your finger tips and available to you when you need it to be. If you would like to meet with John, please call our office today at 951-769-0005.
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