Ray's Retire Right Report Retire Right — Retire Smart! Raymond T. Martin, Retirement Coach and Medicare Planning
August 2024 As summer wanes and school starts, I hope you enjoy the funnies and trivia I’ve gathered here.
August is National Crayon Collection Month August 11th – 17th is Weird Contest Week August 3rd is National Clown Day
Duck, Duck, Chicken To test the durability of airplane windshields, the FAA has a gun that launches a dead chicken at the speed the plane would be traveling when encountering a real bird. If the windshield doesn't crack in that trial, it should survive an in-flight collision too. The British were impressed with the testing system and wanted to try it out on a new high-speed locomotive they were developing. They borrowed the FAA's chicken launcher, loaded and fired at the train. To their shock and horror, the dead chicken shattered the windshield, went through the engineer's chair, broke an instrument panel and embedded itself in the back wall of the engine cab. The British were at a loss to explain the failure of the train's windshield, so they asked the FAA to review their performance of the test. The FAA did and gave one simple recommendation, for the next test, "Use a thawed chicken."
Which constitutional amendment was ratified on August 18, 1920? See the Answer Area.)
Each year your Part D Prescription Drug Plan or Medicare Advantage Plan (if that’s what you have) will send you an Annual Notice of Change (ANOC). That’s because these types of plans are not standardized; they change from year to year. The cost of services, copays, deductible, or premiums may change. The plan may add or remove coverages, the list of preferred providers – doctors, specialists, and pharmacies – may change, and the formulary (list of covered medications) and their tiers may have changed too. You’ll receive the ANOC every year in late September. (Note: Medigap plans are standardized so they don’t send an ANOC.) What should you do when your Annual Notice of Charge arrives in the mail? Review it to decide whether the plan continues to meet your needs. The plans automatically renew so if you do nothing, those changes will govern your care and costs for the coming year. You do not have to change plans yearly, but you may want to switch if the cost goes up, plan drops services vital to your care, if your doctor no longer accepts your insurance, or if your medications are no longer covered. If you do not like the plan changes, you can switch only during the Annual Enrollment Period (AEP) which runs October 15th - December 7th for a January 1st effective date. Unless you qualify for a Special Enrollment Period, AEP is the only time you can make changes to your plan. After you receive your ANOC and you decide you would like to shop any of your plans, email us at AEPTeam@WeRetireSmart.com and let us know you need our help!
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