LITCHFIELD INSURANCE ASSOCIATES
2023 Gazette-Lite Newsletter
Hoping You Had A
Blessed Thanksgiving
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Open Enrollment for Medicare ends December 7th
Let's get to the news!
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IRS Announces 2024 Tax Brackets
The IRS is introducing new income limits for its seven tax brackets (see chart below), adjusting the thresholds to account for the impact of inflation. That could provide a break to some taxpayers on their taxes in 2024.
The tax agency in early November said it's adjusting the tax brackets upwards by 5.4%, relying on a formula based on the consumer price index, which tracks the costs of a basket of goods and services typically bought by consumers. The 2024 limits come after the IRS last year expanded its tax brackets by a historically large 7%, reflecting last year's high inflation.
The IRS adjusts tax brackets annually — as well as many other provisions, such as retirement fund contribution limits — to counter the impact of inflation. That can help avoid so-called "bracket creep," or when workers are pushed into higher tax brackets due to cost-of-living adjustments or raises even though their standard of living may have remained the same.
The standard deduction is also increasing 5.4% in 2024, the IRS said. The new standard deduction for married couples filing jointly will rise to $29,200, an increase of $1,500 from the current tax year. Single taxpayers and married individuals filing separately will have a standard deduction of $14,600, an increase of $750 from the current tax year. Heads of households will have a standard deduction of $21,900, an increase of $1,100.
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What Do I Need to Know About Zepbound,
the New Weight Loss Drug?
*The obesity medication contains tirzepatide, the same active ingredient in the diabetes drug Mounjaro.
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The decision by the Food and Drug Administration recently to approve weight loss drug adds a potent new option to the fast-growing group of obesity drugs.
The drug, which will go by the brand name Zepbound, contains the same compound in the sought-after diabetes drug Mounjaro. Many people have used Mounjaro off-label to lose weight since it was initially approved in May 2022, but the move could pave the way for insurance coverage and open the floodgates for more prescriptions.
Zepbound is the second drug in a new class of obesity medications to be approved for weight loss, following Wegovy. It is now likely the most effective treatment to combat obesity besides bariatric surgery, said Dr. Scott Hagan, an assistant professor of medicine at the University of Washington. But for many, Mounjaro has been hard to find with shortages this year since it hit the market.
WHO QUALIFIES FOR ZEPBOUND?
The F.D.A. approved Zepbound for people who have a body mass index (a much criticized metric) of 30 or greater, which technically qualifies them as having obesity, or those with a B.M.I. of 27 who also have certain weight-related conditions, such as high blood pressure. Regulators said the drug should be used in combination with a reduced calorie diet and increased physical activity.
Like semaglutide, the compound in Ozempic and Wegovy, tirzepatide slows down the emptying of the stomach. People feel fuller, quicker and for longer. All three drugs also target the area of the brain that regulates appetite, slowing cravings.
Semaglutide simulates a single hormone in the body, while tirzepatide mimics two, which experts say may be why it’s often more effective at triggering weight loss. In a 72-week study funded by Eli Lilly, participants with obesity taking the highest dose of tirzepatide lost around 18 percent of their body weight on average.
WILL INSURANCE COVER IT AND WHAT IS IT LIKELY TO COST OUT OF POCKET?
Coverage can differ from plan to plan, but some insurance companies will likely cover it for those who meet the F.D.A.’s criteria. Eli Lilly said that it expects Zepbound will be available in the U.S. by the end of the year at a list price of $1,059.87.
WHAT ARE THE SIDE EFFECTS?
In an Eli Lilly-funded study of tirzepatide for obesity, gastrointestinal issues were the most common side effects. Roughly one-third of participants taking the highest dose of tirzepatide experienced nausea and around one-fifth experienced diarrhea. Some participants also reported abdominal pain, vomiting, constipation, headache and dizziness. The F.D.A. approval states that people taking Zepbound may also experience burping, hair loss and gastroesophageal reflux disease.
Because tirzepatide is so new, we do not know much yet about its long-term effects. People taking these kinds of drugs for weight loss typically are advised to remain on the drugs for the rest of their lives by most doctors.
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FAQ:
What Are Population Trends
in the United States for Seniors?
- As of 2022 there are 64.4 million people over 65 in the U.S.
- By 2030 there will be 79.9 million people over 65 in the U.S.
- By 2040 there will be 92.2 million people over 65 in the U.S.
- By 2050 there will be 100 million people in the U.S. over 65.
*See chart below for comparison to other age categories.
Over 65 is the fastest growing age group.
Source: Wall Street Journal
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Litchfield Hills Wedding Venue
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Relaxing Spot for Rejuvination at Litchfield Hills
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Enjoying a wonderful evening with family and friends!
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Morning Sunrise at Litchfield Hills
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Happy Holidays!!
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Sides are the star of Thanksgiving Dinner.
This season, we are offering TWO of our favorites.
Both are easy and, of course, make excellent leftovers.
Enjoy!!
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Stuffing
My favorite side at Thanksgiving and I am sure there are many great ways to make it, but this is what we love! We call it stuffing (even if not in the turkey), many call it dressing….whatever you call it,
enjoyit your way with your family and friends.
*Note--this recipe can easily be modified for your own delicious add-ins.
Ingredients:
- 1 Stick of Butter
- 1 White Onion, diced
- 2 Cups Celery, diced. Include the leaves, they have great flavor
- 1 Tablespoon Fresh Sage, minced
- 1 Tablespoon Fresh Thyme, minced
- 1 Tablespoon Green Onions, minced
- Dash of Sherry (optional)
- Salt and pepper to taste
- 3 Cups Broth, Chicken-Turkey-Veggie, whatever you like
- 2 Eggs
- 1/4 Cup Fresh Parsley, chopped
- 7 Cups Cornbread cubed
- 7 Cups French Bread cubed
Recipe
- In a big pan, use medium heat to melt butter.
- Add Onion, Celery, Herbs, Green Onions, Salt & Pepper, Sherry, let it cook for 5-7 minutes.
- Add your stock and lower to a simmer.
- Beat 2 eggs and mix with parsley in big bowl.
- Add all your bread
- Add stock over the top.
- Mix very well
- Drop in butter baking dish and hit the top with pads of butter
- Oven 375 for 30 min covered, then 30 min uncovered. Move to broil at end to make sure it is crispy.
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Corn Pudding
A fantastic, easy, and delicious Thanksgiving side dish!
Ingredients:
- 2 (12 oz) bags of yellow frozen corn
- 4 eggs
- ⅓ cup of sugar
- ¾ cup of whole milk
- 1 cup of heavy cream
- ½ cup of melted butter cooled
- 1 ½ teaspoon of Kosher salt
- ⅓ cup of all-purpose flour
- 1 teaspoon baking powder
- Freshly cracked pepper to taste
- 2 tablespoons of fresh chives, minced
Recipe:
1. Blend mixture on high until smooth and pureed, about 1 minute. Transfer the mixture to a large bowl.
2. In a small bowl whisk together the flour and baking powder. Then add the flour mixture to the blended mixture, whisking until combined.
3. Then add the second bag of frozen corn, pepper, and chives, stir to combine.
4. Make Ahead Tip: At this stage, the batter can be covered and refrigerated for 1 day until ready to bake.
5. Before serving, preheat the oven to 350F. Grease a 9 x 12 casserole dish. If using a 9x13 dish lessen the baking time by 5-10 minutes.
6. Pour batter into casserole dish and bake for 40--45 minutes or until golden brown and a toothpick comes out clean.
Serve immediately.
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As always if you have questions or need assistance with your Medicare Plan please reach out to us by emailing or calling:
if there is a specific topic your interested in us including in our monthly Gazette-Lite please let us know.
If you have an update to your address or if you ever change your email, please let us know so we can keep in touch with you.
951-769-0005
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WE ARE LICENSED TO PROVIDE MEDICARE
ASSISTANCE IN THESE STATES
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WE CAN ADD STATES AS NEEDED - SO IF YOUR MOVING LET US KNOW
WE WOULD LOVE TO CONTNUE TO SERVE YOU!!
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