Ray's Retire Right Report Retire Right — Retire Smart! Raymond T. Martin, Retirement Coach and Medicare Planning
November 2024 Happy Thanksgiving! I am thankful for clients like you! I hope you enjoy the funnies and trivia I have gathered here for you this month.
November is National Peanut Butter Month rd
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November 3 – 9 is Polar Bear Week November 10th is Area Code Day
Amazing Luck! In 1967 a woman moved to a new house. She needed a small table and found one at a yard sale. It was dirty and wobbly. Here friend advised against buying it because "it would never hold a lamp." She bargained the price down from $30 to $25 because that was all the money she had in her purse. She brought the table home and cleaned it when she noticed a label on the underside that said, "John Seymour & Son Cabinet Makers Creek Square Boston." Thirty years passed and in 1997 she took her table to the PBS Antiques Roadshow TV show. There she learned that Seymour furniture is one of the rarest and most sought-after in the United States. Up to that date only five other pieces in their original condition were known to exist. The appraisers at the show valued the piece at $300,000 but lucky woman, the table sold at the Sotheby's auction for $490,000!
In colonial America, what did they call a full moon in November? (See the Answer Area.)
It’s the Medicare Annual Enrollment Period (October 15 – December 7), also known as “Open Enrollment” and it’s the time of the year where you can freely shop your stand-alone Part D prescription drug plan. In 2025, there’s a lot of legislation that’s set to take effect from the Inflation Reduction Act. The main change is there’s a $2,000/year cap next year on covered prescriptions on all plans, which is great for some Medicare recipients, however we are seeing lots of disruption in the market. To make up for the extra financial burden they will be taking on, the insurance companies are having to increase premiums, shrink formularies and some carriers are exiting the Part D market completely. Some companies have also decided that they need to end relationships with independent agents and cut compensation on their Part D plans for their plans to survive. This is undoubtedly changing the role of the independent agent in Part D plan reviews each open enrollment. For us to try and continue assisting our clients as best we can, we've developed a resource page with tutorial videos on how you can review your 2025 Part D plan options. To review, go to: aep.martinmedicare.com Any request to change Part D plans made between October 15 – December 7 will take effect on 1/1/2025 and no cancellations are required to terminate your current Part D plan. Medicare only allows recipients to have one Part D plan at a time. P.S. The best time to review your Medicare Supplement is around your birthday (in CA, OR, NV, ID, OK, IL). Reach out to our office at your birthday to make sure you’ve got the most coverage at the lowest premium possible!
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