Ray's Retire Right Report Retire Right — Retire Smart! Raymond T. Martin, Retirement Coach and Medicare Planning
January 2025 Happy New Years! I hope your holidays were filled with family, friends and joy. Let’s start the new year with some funnies, trivia and a smile!
January is “National Polka Music Month”
As we approach the new year, we want to remind you that your Medicare deductibles reset on January 1st. Here’s what you need to know:
Medicare Part B Deductible: In 2025, the annual deductible for Part B will be $257. If you have a Medicare Supplement Plan G, this is the only out-of-pocket cost you are responsible for under your plan before Medicare and Plan G begin covering your Medicare approved services at 100%. The deductible applies to outpatient services such as doctor visits, lab work, and diagnostic tests. Preventive services, like annual wellness exams, remain covered 100% by Medicare Part B.
Medicare Part D Deductible: If you have a Medicare prescription drug plan, the standard Part D deductible on some plans for 2025 will be up to $590. This deductible typically applies to brand-name medications and certain high-tier prescriptions. After you meet this amount, your plan will begin sharing the cost of your prescriptions.
January 28th – February 1st is “U.S. National Snow Sculpting Week” And January 11th is “Learn Your Name in Morse Code Day”
A Persistent Piggy! In August 1998, JoAnne Altsman, while vacationing with her two pets, had a heart attack and collapsed. She yelled for help, but no one heard her. Her dog could sense something was wrong but he only barked. However her 150pound Vietnamese pot-bellied pig, Lulu, came to her rescue. Lula squeezed through a doggy door, pushed open a gate she’d never opened before then ran into the street and lay on her back in front of passing cars. One car stopped but the frightened driver did nothing. The second driver followed Lulu, found JoAnne on the floor, then called 911. Doctors said if another 15 minutes had passed, Joanne may have died. The persistent piggy was treated for a cut on her belly from squeezing through the too-small doggy door and rewarded with a jelly donut for her bravery!
We encourage you to plan ahead for these resets, especially if you have upcoming appointments or prescriptions in January. If you have any questions about your coverage, deductibles, or costs, we’re here to help! Feel free to reach out to our office with any concerns. We appreciate the trust you place in us to guide your Medicare needs.
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Wishing you a healthy and happy new year!
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