Ray's Retire Right Report Retire Right — Retire Smart! Raymond T. Martin, Retirement Coach and Medicare Planning
April 2024 Happy April Fool’s Day! There are no tricks in this newsletter, just the usual trivia and funnies, and useful information you’ve come to enjoy!
April is International Twit Award Month April 1st – 7th is Laugh at Work Week And April 12th is Walk on Your Wild Side Day
Hoax Royale In 2001, an English radio station told listeners that a life-size replica of the Titanic would sail past Beachy Head Lookout along the Sussex coast before crossing over to France. Within minutes the local council staff were inundated with calls asking when the ship would be passing by. Not aware of this radio announcement, the seafront officers couldn’t understand why the parking lots were packed on what was otherwise a miserable morning. Some callers believed they were going to see the original ship (which sank on its maiden voyage in April 1912 after hitting an iceberg.) Officer Pearce said, “I don’t know if they realized the Titanic was still at the bottom of the sea.” Dover Coastguard did not see the funny side of the prank. So many people showed up that a huge crack was created in the cliff and the area was evacuated for safety.
Which popular board game is celebrated on April 13th? (See the Answer Area.)
Medicare and Weight Loss Weight loss and control is a huge challenge, especially for Medicare-eligible population here in the U.S.. The Centers for Medicare and Medicaid Services (CMS) said 42% of Medicare beneficiaries 65 years and over have at least one heart condition. Meanwhile, modern medicine has struggled to develop any new technology to help reduce obesity and heart conditions. Recently developed prescriptions like Ozempic and Wegovy have shown promise leading to the FDA approval of the anti-obesity drug Wegovy. A March 2024, release from the FDA reads, “FDA Approves First Treatment to Reduce Risk of Serious Heart Problems Specifically in Adults with Obesity or Overweight.” Medicare Part D prescription plans have not approved covering Wegovy. And with 2024 premiums set, it is unlikely any Part D plans will cover the drug this year. However, with such high demand, we may see some interest next year in 2025. The formulary is the list of medications that your Medicare Part D plan covers. If your medication is not on the formulary, you may have to pay the full cost of the medication. However, you can request a Formulary Exception to get coverage for a medication not on the formulary. To request an exception, you or your doctor can submit a form to your Medicare Part D plan. You'll need to provide information about your medical condition and why the requested exception is necessary. Your Medicare Part D plan will review your request and let you know if it has been approved or denied within 72 hours. If you have any questions, call my office for help.
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