With nearly 1,000 health insurance companies registered in the United States, it’s no wonder that every year starting in October the airwaves are filled with every conceivable pitchman touting their Medicare wares. From has-been quarterbacks to washed-up comedic actors, we’ve been inundated with commercial after commercial with them, and others, telling us we need to call and “get all the benefits we’re entitled to.”
Thousands of you called because they made it sound just too good to pass up. And in turn, thousands of you filed complaints with Centers for Medicare and Medicaid Services (CMS) about misleading and fraudulent claims made by these companies. So much so that this year the airwaves should be increasingly quieter. Under the new Medicare guidelines, these “800-call-me” companies now must tell you in their commercial who they represent and what types of programs they are trying to get you to buy.
“Caveat emptor” is the Latin phrase “let the buyer beware.” It certainly applies to this situation. Medicare is a complex program. Every year my associates and I spend several months recertifying and taking classes to become versed on all the new regulations and changes to the plans for the coming Medicare year. It’s our job and yet, there are moments when even we look at each other perplexed and have to do additional research to get an answer for a client.
For you, having a working understanding of how Medicare functions makes choosing your coverage that much easier. Parts A, B and D all interact with each other and based on your needs, you can determine which supplemental plan is for you.
The Inflation Reduction Act of 2022, signed into law by President Biden, includes several provisions to lower prescription drug costs for those of us on Medicare and reduce drug spending by the federal government. The most significant of those for 2023 was the capping of insulin costs at $35 per prescription. In 2024 several additional provisions will become active — all of which you need to know about.
For well over a decade, I’ve been presenting free educational Medicare seminars every year because you need to arm yourself with as much information as possible to be an educated consumer. My purpose is to prepare you in an unbiased manner so when you do meet with an agent to review (and you should), you will be ready.
Once again, in conjunction with the Grand Traverse County Senior Center Network, I will be holding a series of seminars reviewing Medicare and the changes to expect for 2024. Because the Traverse City Senior Center is closed for reconstruction (YAY), please note the changes in the Traverse City locations:
Sept. 26 at noon at the VFW Post 2780, 3400 Veterans Drive, in Traverse CitySept. 27 at noon at The Rock, 115 E. Blair St., in KingsleySept. 28 at noon at Redeemer Lutheran Church, 1896 Rogers Road, in InterlochenSept. 28 at 6 p.m. at Traverse Area District Library, 610 Woodmere Ave., in Traverse CityOct. 3 at noon at Fife Lake Library, 77 Lakecrest Lane, in Fife Lake
Since some locations have limited seating, please call the GT Senior Network at 231-922-4911 to reserve your spot. You might want to join them for lunch as well.
In addition to the meetings above, there will be several more scattered around the area. The Village at Bay Ridge Senior Community has graciously opened their doors to the public for the two meetings being held there:
Oct. 4 at noon at the Village at Bay Ridge- East Building, 3850 Scenic Ridge, in Traverse CityOct. 4 at 2 p.m. at the Village at Bay Ridge- West Building, 3850 Scenic Ridge, in Traverse City
CMS requires me to state the obvious. This is not a sales presentation, no specific plans will be discussed, these meetings are free and open to the public, and you are under no obligation to buy anything. What you are obligated to do is come and listen and learn.
If you can’t find a time best suited for you, give me a call and we’ll figure it out.