November 2023 Newsletter
Friends,
Q: What type of key can never open a door?
A: A Tur-key
The Annual Election Period (AEP) is upon us from October 15 to December 7.
This weekend we turn our clocks back. I must admit it throws me off for about a week. I believe I would prefer to just always be on Atlantic Time.
My predictions of the Cost Of Living Adjustment (COLA) and Medicare Part B premium came true. I’ll get into more details in the "What’s New" section of this newsletter.
Thanksgiving is a time to give thanks and be grateful for all of the blessings in life. I have about 26-30 people I’ll be hosting, so my work availability will be limited from late on Wednesday 11-22 until Monday 11-27 at 9 am.
I wish you and yours a Happy Thanksgiving.
Kind Regards,
Michael Antonini
What’s New
1. As predicted right here, the 2024 COLA will be 3.2%. As of August 2023, the average social security check is $1,705.79 which would provide an increase of $54.58 starting in January 2024
2. Also, I predicted a $175 +/- 50 cents Medicare Part B premium for 2024. The base Medicare Part B premium will be $174.70 in 2024. An increase of $9.80 from the $164.90 in 2023.
3. More Medicare numbers for 2024:
The Medicare Part A inpatient hospital deductible will increase $32 to $1,632.
The Medicare Part B medical deductible will increase $14 to $240.
The 2024 IRMAA which affects about 8% of Medicare beneficiaries will trigger for individual tax returns with MAGI over $103,000 and joint tax returns with MAGI over $206,000 on your 2022 tax return. Remember if you have one of eight qualifying events, you can appeal your IRMAA using form SSA.
Ask an Expert: Mary Fairchild
Last month, many people wrote to me that they liked my little pumpkin prayer. So I’m going back to back in prayer, this one for Thanksgiving.
Thanksgiving Prayer
Heavenly Father, on Thanksgiving Day
We bow our hearts to You and pray.
We give You thanks for all You've done
Especially for the gift of Jesus, Your Son.
For beauty in nature, Your glory we see
For joy and health, friends and family,
For daily provision, Your mercy, and care
These are the blessings You graciously share.
So today we offer this response of praise
With a promise to follow You all of our days.
— Mary Fairchild
Important Dates
Happy November birthdays!
11/5 Fall Back
11/11 Veterans Day
Thank you to all veterans who served our country.
11/23 Thanksgiving Day
All the Best,
Michael Antonini