October 2023 Newsletter
Friends,
Q: What did the pumpkin say to its carver?
A: Cut it out!
The Annual Election Period (AEP) is upon us from October 15 to December 7.
During this time you can change plans for next year if you like. You will be getting a letter on grey paper from me to remind you of your choices.
Many Medicare advantage plans raised the maximum out of pocket and either lowered the dental benefits or are charging more than double what they were this year for dental. Also, many plans changed their names for some reason. If you are on the UHC PPO 004, we need to speak about moving you to the UHC PPO 005.
Drug costs are supposed to be going down, and in 2025 there will be a maximum out of pocket of $2,000. However, for some reason many drug plans went way up in premium cost for 2024. We should look at changing your stand-alone drug plan if you are on Aetna/Silver Script, Elixir, Humana or AARP Walgreens currently. I will need a listing of your medications and preferred pharmacy please.
In the meantime, enjoy the fall!
Kind Regards,
Michael Antonini
What’s New
COLA: August inflation numbers were recently announced, and it may indicate a slightly higher COLA than I predicted last month. So now I would like to offer a range of 3.0-3.2% as my prediction for the COLA for 2024 which will be announced in mid-October. I believe my prediction last month is on track.
Medicare Part B Premium: I’m predicting an increase of about $10 to the Medicare Part B premium for 2024 to about $175 +- 50 cents. We will see.
Overdose deaths: In sad news, overdose deaths among people 65 and over from all causes rose 50% from 4,469 in 2019 to 6,702 in 2021 according to a study published in JAMA Psychiatry.
Ask an Expert: The Pumpkin Prayer
When you are carving your pumpkin this season, consider this prayer:
Open my mind so that I can learn about you.
Cut off the top of the pumpkin.
Take away my sins and forgive me for the wrong that I do.
Clean out the inside.
Open my eyes so your love I will see.
Cut out the eyes.
I am sorry for turning my nose to some things you have given me.
Cut out the nose.
Open my mouth to spread your good news.
Cut out the mouth.
Let your light shine in me so others can see.
Place a candle inside the pumpkin.
Important Dates
Happy October birthdays!
October 15 to Dec. 7: Annual Election Period
October 31: Happy Halloween!
Other Important Information:
8 Reasons to Change Your Medicare Coverage During Open Enrollment
Pros & Cons: Exploring Differences in Medicare Coverage
All the Best,
Michael Antonini