It’s time for our annual Medicare update where we outline the changes to Medicare for 2024. But before we get into 2024 fees and deductibles, here is a reminder of a couple of major changes in 2023…. The new Prescription drug law that went into effect Jan. 2023 improved access to many drugs and made those such as insulin much more affordable. Also, individuals whose full Medicare coverage ended 36 months after a kidney transplant and who do not have certain other types of insurance coverage can elect to continue Part B coverage of immunosuppressive drugs by paying a premium. For 2024, the standard immunosuppressive drug premium is $103.00. This was and still is great news for people with ESRD (end stage renal disease)! Now on to the never ending changes in premiums and deductibles for Medicare enrollees… In this day and age where cancer of every kind imaginable is being diagnosed on a regular basis, I thought we’d take a look at the benefits of having a “Cancer” insurance policy. First off, let’s make it clear that Cancer Insurance is NOT major medical. It is a supplemental policy that pays you cash to help with expenses while you are receiving treatment. Cancer Insurance was designed to help reduce out-of-pocket expenses and bridge the gap between what your primary insurance does and doesn't cover. Here are some things to know when researching a Cancer Insurance Policy… That their child is growing up fills parents with a mixture of pride and trepidation. True, having an extra driver in the home helps when it comes to extracurricular activities and quick trips to the grocery store, but the worry and fear of them on the road are real. So, what are some things parents can do to prepare for their teen getting a driver's license? If you’ve been on Medicare for any length of time or have worked in the Medicare Insurance industry, you know that nearly every time Social Security has a Cost of Living Increase, your Medicare Part B premium goes up. Well, not this year! According to CMS.gov, the 2023 Medicare Part B premium will decrease from $170.10 in 2022 to $164.90. That’s $5.20 added to your Social Security check every month! The 3rd Quarter of 2022 is almost over, so we thought we'd do a quick check up to review with you some things you might want to be aware of.... Our children have been back to school for several weeks now, but it's always wise to drive with care and pay attention out there. We're still smack in the middle of hurricane season and although we've been blessed so far to not have anything come close to us, we're not out of the woods yet. Brush up on your preparation tips as well as binding restrictions for home, auto and recreational vehicle insurance. You might also want to review our posts on understanding your home or mobile home insurance and policy deductibles as well as the need for flood insurance. Football and Festivals are in full swing. We've got information that will help you be safe and have fun while you're out and about. Medicare AEP is right around the corner (Oct 15 - Dec 7) so now is a good time to review your Medicare policy. New to Medicare? Check out our FAQ and Understanding Medicare posts. If you don't already have a local agent, give us a call. We'd be happy to be yours! Have Medicare and Medicaid or a Veteran with Medicare? We can help you too! If travelling is in your plans for the holidays this year, check out our tips for travelling smart and other articles that can benefit you during the most wonderful time of the year. As we round out 2022, we here at Curtis Insurance sincerely hope we've provided blog posts that are educational and informative and pray you'll drop by monthly to see what we're sharing. Until next time take care and remember.... In a world where you can be anything, be kind. Tommy Curtis and Staff Disclaimers: ALL material on this blog is available for informational purposes only and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own personal advisors before making these types of decisions. Life and Medicare Products marketed through Curtis & Associates Financial Services, Inc. {A Life and Health Agency} Medicare has neither endorsed nor reviewed this information. Not connected or affiliated with any United States Government or State agency. Calling this number will direct you to a licensed Agent/Broker. *By contacting us and providing information, you agree that an authorized representative or licensed insurance agent may contact you by phone, e-mail or mail to answer your questions and provide additional information about Medicare Advantage, Part D or Medicare Supplement Insurance plans. As a newly licensed agent years ago, I learned the definition of Insurance is “shared risk.” This was never more demonstrated than when Hurricane Rita hit in 2005. I remember that time like it happened yesterday. The stress of evacuating with a husband only weeks out of the hospital from having a defibrillator installed to keep his impaired heart working. Coming home to damages to my house, loss of food and electricity, no one to fully assess our loss (remember my husband couldn’t climb a ladder or anything). Thankfully when I called our insurance company at the time, and explained our situation, they sent someone out right away and we were treated very well. Then there was the delight of returning to work and having to hop from one desk to another because the office was inundated with claims agents. They worked long hours in the office and in the field, checkbook in hand, anxious to help our valued clients get through one of the biggest and meanest hurricanes to hit the Lake Area in nearly fifty years. Many States have enacted a moratorium preventing insurance companies from cancelling and non-renewing policies for non- payment to the insurance carriers during the Covid-19 crisis. DON'T LOOK AT THIS AS FREE INSURANCE! The insurance carriers are only delaying your payment due date. This does not apply to automatic payments via bank draft/EFT. Know also, delaying your payment due date does not mean you won’t have to pay at all. What it may do is cause a “balloon” payment to be due when you least expect it. Any unpaid amounts could eventually be turned over to collections if not paid when expected. Don't let your credit history take a hit. What can you do to keep your insurance affordable and still pay on-time? Look at a reducing your insurance coverage. With auto insurance, you must (at least) have minimum liability as required by most state laws. If your vehicle is financed, you must secure the lien holder’s interest by having comprehensive & collision coverage. However, you can increase your deductible on these coverages. The higher the deductible, the lower the premium. Talk with your insurance carrier or insurance agent about possible options. If you can't afford the EXTRA coverage and are not required to have it, do without during this time. You can modify your coverage when you are back on your feet and financially able. What about the young drivers on your policy who are home-bound during this quarantine period? You can contact your insurance carrier to see about excluding drivers who are NOT driving during this period of time. Be careful with this option though. If your young driver is behind the wheel at any time, they need to be listed and removing them then letting them take the vehicle somewhere is not a good idea! Also, remember to change them back from an excluded to rated driver once the stay-home order is lifted and life returns to normal. These are strange and scary times but whatever you decide, protecting what’s important should be top on your list of priorities. Don’t fall into the trap of thinking you can get by without proper insurance on your auto(s), home or even life! Until next time, take care, be safe and stay informed! Tommy Curtis & Staff DIsclaimer: NOT everyone will fall under this moratorium. You can still be cancelled for nonpayment if your new policy effective date is during the moratorium. In doubt, always talk with your insurance carrier to see if you qualify for this moratorium. You will also be cancelled or non-renewed for fraud and/or misrepresentation. Bet the title of this post has you wondering what that old adage about the weather has to do with Insurance. Lots! Brought on by Spring storms, March winds can mean anything from a gentle breeze to huge gusts to tornadoes. April showers sometimes mean flooding and those May flowers for June brides lend to thoughts of insuring your love. |
Tommy Curtis
Is an insurance agent with integrity and your best interest in mind. Call to speak directly to him. Contact us Phone: 337-433-1683 Address: 509 7th Street Lake Charles, LA 70601 Office Hours: M-F 9a - 5p (CST) Follow Us
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