Your Quarterly Medicare Newsletter

Your Quarterly Medicare Newsletter

October 01, 2023

The year is winding down, and you’re likely dealing with all that entails, including making health decisions and pondering the new year ahead.

Have you had your annual wellness check for 2023? If not, you may want to schedule it before the end of the year. Those who have had Medicare Part B for a year or more get a free annual checkup to work with their doctor on their personalized prevention plan against disease and disability.1

Avoid This Lifelong Medicare Penalty!

While you may be aware that there is a penalty for late enrollment in Medicare, you may not know that the consequences of that late enrollment stay with you for the rest of your life. If you enroll in Medicare at 70, for instance, you will face a 50 percent penalty (10 percent for each year you could have enrolled—in this case, five). This can amount to thousands of dollars over the rest of your life and will only double if your spouse likewise did not enroll.

Why is there confusion over this? In some cases, employers offer employees and their spouses retiree health coverage. While you *are* exempt from enrolling if you or your spouse are actively employed and getting health benefits, retiree health coverage is not the same, and you will have to enroll once you or your spouse is no longer actively working.2

Get Your Flu Shot

It is flu shot time again. While a year with masks and staying indoors might have decreased the incidence of flu last year, with so much of the world returning to normal, influenza is on the rise. This year, the CDC recommends a flu shot or a live attenuated flu vaccine, which is administered as a nasal spray. This recommendation extends to everyone six months old or older, particularly those who are at risk of flu-related health complications. Talk to your doctor if you have concerns or special considerations regarding the influenza vaccine.3

Fall in the Berkshires, Massachusetts

January 1: Medicare General Enrollment Begins

January 1: Medicare Advantage Enrollment Begins

January 15: Medicare Advantage/Part D Rate Release

March 31: Medicare General Enrollment Ends

March 31: Medicare Advantage Enrollment Ends

April: Flu Season Ends

September: Private plans send notice if there will be any change in cost, coverage, or service area

October 15: Medicare Open Enrollment Period Begins

October-November (Estimated): Medicare Parts A & B Premiums & Deductibles Announced

November: Flu season begins

December 7: Medicare Open Enrollment Ends

Sources:
1. Medicare.gov, September 13, 2022
2. RetirementFieldGuide.com, September 13, 2022
3. CDC.gov, September 13, 2022

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.