February 2023 Newsletter
Friends,
Q: What did the quarterback say to the Boy Scout?
A: Hike
How many of you were in or knew someone in the Boy Scouts?
I have some fond memories as a Scout and later as Scoutmaster. February reminds me of Valentine’s Day but also of the anniversary of the founding of the Boy Scouts on February 8, 1910. I’ll touch more on the virtues of Scouting later in this newsletter.
Also, if you wanted to and didn’t get a chance to change your Medicare Advantage plan during the Annual Enrollment Period (AEP) last fall, then I have good news for you.
The Medicare Open Enrollment Period (OEP) runs from January 1, 2023 to March 31, 2023. You can make one change during this time to a different Medicare advantage plan or switch to Original Medicare with a stand-alone drug plan.
Kind Regards,
Michael Antonini
What’s New
Insulin co-pays capped
Under the Inflation Reduction Act of 2022, which includes a number of provisions to lower the prices of prescription drugs for Medicare beneficiaries, beginning in 2023, co-pays for a 30-day supply of any insulin that a Medicare drug plan covers will be capped at $35. Enrollees won’t have to pay more than $35 even if they have not yet met their annual Part D deductible. Note that not every plan covers every type of insulin.
Beginning on July 1, Medicare enrollees who take their insulin through a pump as part of the Part B durable medical equipment benefit will not have to pay a deductible and they will also benefit from the $35 co-pay cap.
Free vaccines
Also under the new law, vaccines recommended for adults by the Centers for Disease Control and Prevention’s Advisory Committee on Immunization Practices (ACIP) will be available to Medicare recipients free of charge. Some vaccines are covered under Part B and are already free to Medicare enrollees. Others are covered by Part D prescription drug plans and require beneficiaries to pay some of the cost. For example, shots for the flu, pneumonia, COVID-19 (initial shots and boosters) and hepatitis B for some enrollees are free under Part B and that coverage will continue in 2023. Part B also covers vaccines needed to treat certain injuries or if you have direct exposure to a disease. Those include hepatitis A, rabies and tetanus.
Other vaccines, most notably the two-dose Shingrix, which guards against shingles, are covered under Part D prescription drug plans and may require cost sharing depending on the plan. Shingrix, for example, can run as much as $200 a dose. Starting in 2023, even if a beneficiary hasn’t satisfied their Part D deductible, that vaccine and others recommended by ACIP will be free to beneficiaries.
Ask an Expert: The Boy Scout Oath and Law
Most of my good character traits come from my upbringing with my parents and as a Boy Scout and Scoutmaster. Solid life principles can be found in the Boy Scout oath and law.
Please click this link to read the Scout Oath and the meaning of the 12 points of the Scout Law.
Important Dates
January 1, 2023 to March 31, 2023. Open Enrollment Period OEP
You can change your Medicare Advantage plan to a different Medicare Advantage Plan or switch to Original Medicare and join a separate Prescription Drug Plan once during this time. Any changes you make will be effective the first of the month after the plan gets your request. I am now able to help you with your choices so please do not hesitate to call me.
February 1, 2023 Frank Antonini 94, Kathy C (I don’t tell women’s ages)
February 14, 2023 Happy Valentine’s Day
Happy Birthday to everyone born in February!
All the Best,
Michael
