October 2024 Newsletter
Why don’t skeletons go trick or treating?
They don’t have the guts!
Friends,
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.
Some Medicare Advantage plans raised the maximum out of pocket and lowered the dental benefits and other ancillary coverage. If you are on an Aetna PPO in Fairfield County, your policy was NON - RENEWED for 2025 and we need to speak about moving you to a new plan for 2025. This is my top priority this fall.
Drug costs are supposed to be going down and, in 2025, there will be a maximum out of pocket of $2,000. However, many drug plans went way up in premium cost for 2025. Some plans were terminated or consolidated to a different plan. Also, several companies stopped working with agents on drug plans. To review your drug plan and enroll in one for 2025 you can go to www.medicare.gov or load your information into my secure quoting website here.
Kind Regards,
Michael Antonini
What’s New
Medicare Part B Premium. I’m predicting an increase of about $10.30 to the Medicare Part B premium for 2025 to about $185. We will see.
Maximum Out of Pocket for Prescription Drugs. In 2025 the maximum out of pocket for prescriptions is reduced to $2,000. Many plans will have a $590 deductible and then you will be responsible for about 25% on most drugs. Some higher tier drugs could be more expensive.
Medicare Prescription Payment Plan (M3P). In 2025 beneficiaries who might hit the $2,000 maximum out of pocket will be offered to smooth those payments out over the year through the new Prescription Payment Plan. Each company seems to have a different approach to it, so be on the lookout for information from your company that provides drug coverage if this is something you are interested in.
Click here for my new secure quoting system where you can enter your doctors, prescriptions and sign a scope of appointment to make it easier to give you a new quote in a compliant manner.
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!
10/15 to 12/7 Annual Election Period
Thursday, October 17 at 7:26 AM EDT Full Hunter Moon
Peace!
Michael Antonini