Medicare News

November 2022 Edition

My goal with this newsletter is to:

1
Keep You Informed I will be sharing current articles about the changes in Medicare.
2
Answer Your Questions I'm available to answer issues specific to you.
3
Stay Connected I want to make Medicare coverage as simple as possible.

(858) 935-9120

Referrals

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The greatest compliment you pay us is the referral of your family and friends. Thank you!!!

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Open the camera on your cellphone and hover over QR code as if you were going to take a picture of it. A yellow "YouTube" button should pop up. Click on the words "YouTube" and it will take you to the video.

We are just two weeks into the Annual Enrollment Period [AEP] for 2023 and many of you have already read your ANOC [see below] and may have questions about your Medicare plan. If so, you can email me at jim@themedicareanswerguy.com and I will get back to you ASAP.

Annual Notice of Change [ANOC] –
There will be many changes to your Medicare Advantage HMO plans and your Rx Drug Plans in 2023! Each insurance company that sells a Medicare Advantage plan receives thousands of dollars from the government each year to manage those plans. The insurance company must then spend a certain amount of those dollars on In and Out of Hospital charges as well as on prescription drugs. The rest of the money can and will be spent on benefits and services beyond what's covered by Original Medicare…vision, dental, hearing, transportation, gym membership, etc.

There are more than 30 Medicare Advantage plans in San Diego County alone and each one is vying for your attention. READ YOUR ANOC WHEN IT SHOWS UP IN YOUR MAILBOX TO SEE HOW YOUR PLAN MIGHT BE CHANGING AND CALL OR EMAIL ME WITH YOUR QUESTIONS. I AM ACCESSIBLE AND AVAILABLE TO HELP YOU!

2023 Medicare Part B premium and deductible are going DOWN!! [from Medicare.gov]
Each year the Medicare Part B premium, deductible, and coinsurance rates are determined according to the Social Security Act. The standard monthly premium for Medicare Part B enrollees will be $164.90 for 2023, a decrease of $5.20 from $170.10 in 2022. The annual deductible for all Medicare Part B beneficiaries is $226 in 2023, a decrease of $7 from the annual deductible of $233 in 2022
2023 Social Security Benefits are going UP!! [from ssa.gov]
Approximately 70 million Americans will see a 8.7% increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2023. On average, Social Security benefits will increase by more than $140 per month starting in January.

Federal benefit rates increase when the cost-of-living rises, as measured by the Department of Labor's Consumer Price Index (CPI-W). The CPI-W rises when inflation increases, leading to a higher cost-of-living. This change means prices for goods and services, on average, are higher. The cost-of-living adjustment (COLA) helps to offset these costs.

Social Security will mail COLA notices throughout the month of December to retirement, survivor, and disability beneficiaries, SSI recipients, and representative payees. But if you want to know your new benefit amount sooner, you can securely obtain your Social Security COLA notice online using the Message Center in your personal Social Security account. You can access this information in early December, prior to receiving the mailed notice. Benefit amounts will not be available before December. Since you will receive the COLA notice online or in the mail, you don't need to contact us to get your new benefit amount.
TV and Radio Ads for Medicare
As I mentioned last month, you will start to see and hear many TV and radio ads encouraging you to call an 800 number to review your Medicare Advantage plan. They will try to persuade you to change your plan to a "new and improved" Medicare Advantage plan. Their motive is to sell you something that may not benefit you here in San Diego. Don't call them…call me instead.

My job is to stay on top of what Medicare Advantage plans are available to you in your area. I want what's best for YOU…not what's best for me or some insurance company. You have chosen me as your "advocate" Medicare agent, and I am available and accessible to Make Medicare Easy for you to understand…call me instead.

IMPORTANT - Some of you are receiving this newsletter and you are still working past your 65^th birthday and haven't already enrolled in Medicare. If your retirement is on the near horizon, please contact me at least six [6] weeks in advance of your expected retirement or exit from your company's employer health plan so that I can help you with your transition to Medicare. Why? Because this process has become extremely confusing and there can be many delays to your enrollment in Medicare. I can help you with the Medicare maze and eliminate hours of frustration and anxiety.

Disclaimer
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.

Jim Robeson CLU, ChFC

Medicare Made Easy
10755 Scripps Poway Pkwy #617
San Diego, CA 92131| (858) 935-9120
jim@themedicareanswerguy.com
themedicareanswerguy.com

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