Ray's Retire Right Report Retire Right — Retire Smart! Raymond T. Martin, Retirement Coach and Medicare Planning
December 2024 This December, I wish you and yours a happy holiday season filled with family and friends, love and laughter.
December is “Adopt a Turkey” Month December 15th – 19th is “Cookie Exchange” Week December 1st is “Secondhand Sunday” Day
Mirror, Mirror on the Car Car owners in Sullivan, New York, had to cover their mirrors in an attempt to outsmart a woodpecker who apparently thinks his reflection is a rival bird moving in on his territory. Evidently, during breeding season, male woodpeckers aggressively defend their turf. A local glass shop owner said he replaced 30 smashed mirrors last year and 18 this year because of the bird which has claimed the area east of Syracuse as his territory. "People come in pretty mad. One guy's been in here three times already because he keeps forgetting to cover up the mirrors," he said. A lady had two mirrors on her Pontiac smashed and watched the bird attack her neighbor's Malibu. She said, "I told him to shoo. He did. Then he came right back and finished the job. Instead of flying off, he walked across the windshield and did the passenger mirror. I was flabbergasted."
Which state was the first to declare Christmas a legal holiday?
Medicare 2025 As we approach 2025, it's important for Medicare beneficiaries to stay informed about changes to premiums and deductibles. The Centers for Medicare & Medicaid Services (CMS) have announced updated rates for both Part B premiums and Part B and Part D deductibles. For 2025, the standard monthly premium for Medicare Part B is expected to be $185/month, which is an increase from the 2024 premium of $174.70/month. Part B covers outpatient services like doctor visits, lab tests, and preventive care. It's important to note that the Part B premium can be higher for those with IRMAA (IncomeRelated Monthly Adjustment Amounts) surcharges based on higher earned income from previous years. In addition to the premium adjustment, the annual deductible for Medicare Part B will reset to $257which is up from $240 in 2024. This deductible is the amount you must pay before Medicare begins covering outpatient services. Similarly, Medicare Part D (prescription drug coverage) will also see changes in its deductible. The standard Part D deductible for 2025 will be $590, which is an increase from $545 in 2024. This means that beneficiaries will need to meet this deductible before their drug plans begin to cover brand name prescriptions and certain generics. Understanding these changes is crucial to managing your Medicare costs in the year ahead. Be sure to review your plan details and budget accordingly to avoid surprises come January.
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