Hello,                                                                                                           Oct. 2019

     I hope you had a nice summer.  I know it went by fast. It seems like the older I get the faster time goes by.  I want to thank you for the referrals this year.  My business has been growing thanks in large part to your referrals so please keep them coming. 

     Well, regarding general changes in Medicare plans for 2020 – its mostly good news.  In short, a few copays are going up and a few are going down and many are adding new benefits.  Overall the plans are not changing much.  So, if you are happy with your current plan then just stay put and let it roll into next year.  If, however you are not happy or just want to compare your plan to one you may have heard about, just call me and we can do a review.

     I want to remind you that if your plan has Dental coverage, eye exams and glasses coverage, hearing aids coverage, meals delivered after a hospital, Personal Emergency Response System, quarterly Over the Counter Catalog benefit, not to mention Silver Sneakers – be sure to take advantage of those benefits.  If you are not sure if you have these benefits, call me.  

     Most of the Medicare Plan companies have added a “Community Resource” benefit.  This is where you can call customer service for almost anything. If you need a handyman, a dogwalker, help with bills – anything (except maybe a winning lottery number), and they will connect you with a charity or some organization in your neighborhood to help you.

     Latest SCAMS – Storm damage scams from hail to wind etc.  Imposters claiming to be government officials to inspectors to utility workers claim immediate work is needed.  Be sure to ask for credentials and do not give away financial info or money without checking them out.  Get someone to help you check them out if you’re not sure like a friend, neighbor, or pastor.  Look at www.consumer.ftc.gov/features/scam-alerts for tips to avoid these scams. 

TAX SCAM – 2 versions.  Scammer claims to be able to suspend your social security number (which they cannot do).  The other threatens a taxpayer with bills from a fictional government agency like “The Burea of Tax Enforcement”.  Call the IRS to report these.

Genetic Testing SCAM – Scammers offer free genetic testing claiming Medicare will cover it – so they can get your Medicare number and use it to commit fraud.  Only a doctor can order this test otherwise Medicare will likely NOT cover it. So never try to do it through a telemarketer or a health fair or someone knocking on your door.

     Did you know you could contribute to a Roth IRA for your grandkids if they earned any income this summer up to $6,000?  Let that grow for 50 years at just 6% and they would have over $110,000.  That would be one present from you they would never forget.

     Veterans – Dept. of Veteran Affairs says you may now elect to receive healthcare in their community if a service is not available at a VA facility that is over 30 minutes away.  There are other rules for this to work so go to www.missionact.va.gov or call 844-698-2311 for more details.  Also beware that some Medicare Plans are offering cash back if you take their plan over your current plan.  While it is true you can get cash back BUT if you need to use their plan benefits you will be limited on the doctors and hospitals you can use and many benefits are not as good as you currently have.  Call me if you are approached about this and have questions.

     Social Security COLA – Kiplinger Magazine estimates the increase will be about 1.6% for 2020 and 2% for 2021.  (Whoohoo!  Don’t spend all that extra cash in one place. That might get you a McDonalds coffee and an Egg McMuffin once a month.)

     Funeral costs – Its hard to compare costs but a new website is helping – funeralocity.com.  Enter your zip code and it will compare prices for things like a simple burial or full service cremation.

     Medical Debt – If you or someone you know owes a lot of money for medical bills use the National Council on Aging Benefit checkup tool (www.benefitscheckup.org) to find out if you qualify for a Medicare Savings program or other health care cost assistance that may be offered in your area.  Also, if you have a choice, get treatment from a nonprofit hospital like University Hospital.  They have programs to help lower income people.  Many people I know have had their hospital copay waived when they were an inpatient.

     Save money on Car Insurance.  Take a driver’s safety course.  They are now available to older drivers.  Its never too late to teach an old dog new tricks, right?  Check with your insurance carrier to see how much they will reduce your rate for taking the class.  Most classes are in classroom but some are online.  Those of you who have GBU for life insurance or annuities can get reimbursed for the class after you take it.

     Prescription coverage – Good news and bad.  The good news is you now have $4,020 to spend on drugs before the donut hole starts.  Also, if you hit the donut hole you will only have a 25% copay on your drugs (which I know can still be a lot of money).  This is the last of the scheduled changes for donut hole copays.  It will stay at a 25% copay into the foreseeable future.  The bad news is they raised the max out of pocket to $6,350 before the catastrophic coverage starts.  

     On a personal note- Cathy and I have been busy working and adjusting to a quiet house with just the two of us.  Weird how things stay clean for so much longer now that the last child has moved out.  Speaking of him, he had a beautiful wedding in May and he and his wife Allie are back in Chicago for their last year of college.  They used to love it there but are really looking forward to graduating and getting out of the city.  (It may have something to do with driving there whereas before they walked and took the train.)  Our oldest, Nathan and his wife LaRee just bought a house in the area this summer and are expecting their first child early next year.  We are excited.

     Thank you again for your trust in me and your referrals.  Call me with any questions.  I hope you have a nice Fall season and great holidays.

Take care,

Chris Boring

Hello,

I hope you had a great Christmas and New Years. We didn’t have a white Christmas but at least it wasn’t bitter cold. Looks like we are in for another mild winter which is fine with me. I had a very busy enrollment period this fall. Thank you so much for the people you referred to me. That’s what keeps me in business and it is very much appreciated.

Medicare made some rule changes for 2019. From Jan. 1 to March 31 is a new Open Enrollment period for people who have a Medicare Advantage Plan already in place. They will be able to change one time to a different Medicare Advantage plan. So, for example, people with the Anthem Mediblue Essential plan can switch to the Anthem Mediblue Prefered plan or another company, just by calling me. Please remember to mention this to friends and family and have them call me if they are on a plan they are not happy with.

Another prescription alternative. Here is another way to possibly save money on your prescriptions. A Canadian drug company called Medix is a CIPA regulated company – like our FDA. They offer many good prices on drugs that are mostly manufactured in Australia and New Zealand – not China. You can call 866-500-6633 or go to medixpharmacy.co.uk/register. I can’t endorse a drug company but I can tell you I have clients who have been using them for years and are very satisfied.

Just a reminder to be sure to take advantage of the extra benefits many of you have with your Advantage plans like vision, hearing, gym, and 24 hour nurse line.

A new program is now available for businesses that do not offer retiree health benefits. I can now offer health coverage similar to what you have now for little to no cost for companies. If you know your former human resource person and/or think they might be interested in hearing about this, please let me know.

For those whose Medicare Supplement is getting too expensive, I have a company that usually saves people money for the same benefits. Call me if you want more information or a quote.

In case you didn’t know, if you ever have a claim denied, you can file an appeal and odds are good the plan will change its decision. Many times a denial is really a request for additional information or to alert a doctor of a way to have an alternative treatment performed that’s more effective. You have 60 days to file an appeal and can expect a response within 30 days. If your health could be harmed by the wait you can do an expedited appeal and get a decision within 72 hours.

A new round of House Calls from a visiting nurse will start with the new year. This nurse visit is something Medicare is pushing the insurance companies to perform. You do not have to do it. If you tell them No and they keep calling, write down their name, location, and when they called. Then call me with the information and I will get them stopped. However, it is a good idea to make the appointment because it helps the insurance company with their star rating and the better their rating, the better the benefits are for you in your plan.

A new reason to exercise. Silver Sneakers has started a scholarship program. Those with Silver Sneakers can now earn scholarship dollars for their grandchildren by using Silver Sneakers facilities on a regular basis. Here’s how it works. You get $1,000 to sign up for the program and when you visit a facility 7 times in a month, $250 is applied to the account. So, exercise at least 7 times a month and you can earn $3,000 in a year for your grandchildren to go to college. There are 400 colleges in the program so far with 30 of them in Ohio. You can name multiple beneficiaries for the money to be divided among, but they must be a junior in high school or younger.
Help on prescription drugs. President Trump helped a little for those in the donut hole for next year. The copay in the donut hole for name brand drugs was lowered from 35% down to 25% for 2019 and beyond.
I have found several charities that help people with drug costs. Patient Access Network Foundation at www.panfoundation.org, Patient Advocate Foundation at www.copays.org, Healthwell Foundation at www.healthwellfoundation.org, and NeedyMeds at www.needymeds.org or 800-503-6897. You can also try www.patientadvocate.org to find financial aid funds and www.benefitscheckup.org for help as well.
Also, pharmacists sometimes are not allowed to tell you up front there are cheaper alternatives but if you ask them directly they will tell you. So be sure to ask if you are on an expensive drug. I know a lot more people have hit the donut hole this year thanks to the increased prices of many drugs, so I hope this information helps.

Is your money protected from nursing home expenses? Most nursing home expenses are for short term periods. Although a long-term stay can be devastating financially, the cost to insure against it when in your 60’s or more is usually cost prohibitive for most people. Depending on the statistics you look at, a person age 65 has a 50% to 80% chance of entering a nursing home before they die with the average stay about 3 years. When you drill down into the numbers you see that they are also counting people who enter a skilled nursing home for even a day or a week, many of whom get well enough to go home. The chance of having a nursing home stay for more than one year is actually much lower, perhaps 10% or less. According to the stats most people only need short term care which is much more affordable compared to spending a few hundred a month for long term care.

My family and I are doing well. Cathy and I had a quiet Christmas with both kids gone Christmas day. We made up for it on New Year’s Eve. Cathy’s family was in town and we had 28 people over. It was a lot of fun. Both boys are back to college now. Nathan has just accepted a job in Akron and will start after he graduates from the Univ. of Akron with his Mechanical Engineering degree in May. Andrew is looking forward to his last semester living on campus in Chicago since he is getting married Memorial Day weekend. They will then live about three miles from campus as they finish their last year of college. I am helping with our church’s annual Sportsmen’s Dinner. It is on Jan 26th and there will be a whitetail expert speaking who writes for American Hunter magazine, several different raffles, trophy display and great food including the best venison I have ever eaten. Order tickets online at www.portagechapel.com or get tickets at the door which open at 5:00.

Have a great year.

Hello,

I hope you are staying warm.  It’s been a rough winter so far.  At least we can hope for an early spring.  Well, I have a lot to cover again so here goes.

     New Medicare numbers start coming out in April.  The change over will run through April of 2019.  This will eliminate the use of your social security number.  But BE CAREFUL!  Scammers are working the new Medicare card angle.  If you get a call from someone saying you must provide your Soc. Sec. number and a payment to get your new card, hang up and report it.  The card will come automatically, and it is free.

     Reminder to United Healthcare Medicare Advantage plan holders, use your over the counter catalog benefits this quarter.  If you don’t have the catalog, call customer service and they can send you one.

     Research shows complex passwords are not only user unfriendly (yea, I know – shocker) but are also not hacker proof.  Long easy to remember strings of words are a better deterrent to the bad guys.  Pick a series of unrelated words like cloud tomato history bridge.  Length is more important than randomness.  Put capital letters, numbers, and special characters within the phrase too.  To keep track of your passwords you can use password managers like LastPass.

Extra help for prescriptions – Income limits were adjusted for 2018 so more people may qualify for extra help (called LIS) on their prescriptions.  If your income – including social security before any deductions – is under $16,000 for a single person and under $25,000 for a couple and your assets are under $14,340 for a single and $28,150 for a couple, you may qualify.  There are different levels of LIS and the lower your income the more extra help you can receive.  To see if you qualify, you can go online to do it at https://www.ssa.gov./i1020/ or call Soc. Sec. at 800-772-1213 and make an appointment to go in or have them mail you the paperwork.  If you qualify for the extra help you then have a permanent open enrollment and can switch your Medicare plan any time of the year you want to. If you ever want to change, be sure to call me.

Clear up Medicare Plans F & C confusion.  Most of you do not currently have the supplement Plan F or C.  That’s OK because if you turned age 65 before the year 2020 you are eligible to buy the plans anytime in the future after 2020.  However, those who turn age 65 in 2020 or later will not be able to buy Plans F or C (unless congress changes the law again).

     Car insurance rates are going up.  This is due to more claims paid out by the insurance companies.  The biggest reason for this is the rising cost of repairs due to new safety features such as sensors, cameras and computers.  Other causes also include more drivers on the road due to a robust economy, distracted drivers and legalized marijuana (Gee, who could have seen that coming).  So, if you have not compared companies in a long time, now is a good time to call a few car insurance brokers (that’s not me) and get some quotes.

Save $$ on glasses – A friend told me about a website called zennioptical.com where you can order glasses for under $10 for a simple prescription and for under $100 with everything.  He and his family have been using it for years with no problems.  You need your prescription, a photo of yourself to upload, and know the distance between your pupils (they help you figure that online).  You will be able to put a vast selection of frames on your picture to see how they look.  Then you simply order online, and they have a 1-800 number you can call with questions.  Your Medicare plan won’t cover this but if you can get it for this low of a price, it might be the way to go.

I have been helping my mom with a few of her legal affairs and was reminded of a few things I thought I would pass on.  First is the Health Care Power of Attorney (POA). This authorizes another person to make health care decisions for you if you are unable to.  It is different from a Living Will which states how you want to use artificial life support if you become terminal or permanently unconscious.  Although a person can change their living will anytime, it does over rule a health care POA regarding end of life treatment.

A Financial POA can be used to appoint someone to act on their behalf regarding personal, financial, and business matters.  Ohio revised this POA in 2012 to prevent elder abuse from agents abusing their power and providing a remedy if it occurs.  So, if you have a POA from before 2012, even though it may still be good, you probably want to see an attorney as an updated one would probably protect you more.

So what’s the difference between a Living will and a DNR (Do Not Resuscitate) order?  A Living Will document can be completed by you at any time where a DNR must be completed by your doctor and is usually done at a time where your current health conditions warrant it.  A Living Will may not protect you from receiving CPR or other medical interventions to prolong life because it only takes effect if you are certified terminal or permanently unconscious state.

Now this is a very brief and incomplete explanation of each of these documents.  My intent is to bring it to your attention and give you an idea of what each one does.  You can get a more complete description from the Ohio Bar Association at www.ohiobar.org or call them at 800-282-6556.  It’s also a good idea to see an attorney.

File of Life – I mentioned this before but this time I have included a copy of the “File of Life” for you to complete for each person in your home.  Please do so and place it somewhere visible on the outside of your refrigerator.  Medical Emergency workers are trained to look for it on the refrigerator.  This gives them a quick reference to your medical history/conditions and medications.  This could save your life in the event you are unable to answer their questions.  I had a client use it last year.  Although she was conscious it was helpful to her, EMS workers and the ER staff.  There is also a pink paper that has two boxes with “File of Life” on them.  The small one can be cut out and taped to the front door or window so when EMS show up they see it as they enter the door and know to look on the refrigerator.  The larger one can cover the medical information paper on the refrigerator once you fold it up into quarters.  Remember to update this every six months like changing your smoke detector batteries.  I have “File of Life” kits of these with a plastic holder and magnet at my office if you would like to pick one up.  They are also available at the Senior Center on Oak Street in Ravenna.

On a personal note, my wife, Cathy, is back to working six days a week as tax season is now in full swing.  My son Nathan is back at the university of Akron this semester and he and his wife are moving closer to home this month as their current apartment lease is up in March.  My other son, Andrew, is now studying abroad in Jerusalem and is learning a lot.  He also got engaged before he left.  She is a great young lady and they plan to get married in May 2019.  Business is going well for me.  I am helping an antique dealer set up a charity auction for antiques, collectibles, and tools on August 4^th in Ravenna.  The proceeds will benefit the Haven of Portage County that will help the homeless and trafficked women.  If you have an item you would be interested in donating, please let me know.  We will be holding a donation day at Portage Community Chapel on S.R. 14 in Ravenna on June 9^th for people to bring anything to donate.

I hope this letter is helpful and informative.  If you know of anything you would like to share that could help fellow Medicare beneficiaries save money, again, please let me know.

Thank you to everyone who passed my name along to someone looking for help with Medicare plans and/or life insurance. I can’t tell you how much I appreciate those referrals and how much I value your trust.

Thank You Again!!

Take care,

Chris

Hello,

I have some information I wanted to get out to you. Before I start I want to thank you so much for those who have referred their friends and family to me. I really appreciate your trust.

Now that winter is about over I will be scheduling a few Medicare Educational talks at a couple of different locations this year. I will be explaining the four parts of Medicare and the options available to cover the gaps in Medicare. If you know someone who would like to attend, please have them call me. And if you need a speaker for any groups or organizations you belong to just let me know, I would be happy to speak to them.

Some of you may not be aware that the Medicare Part B premium went up to $121.80 the first of the year. Those of you who started Part B before 2016 did not get the rate increase. Only people starting their Medicare Part B in 2016 and later will pay the $121.80. Enjoy it while you can because you can be sure that the next time the government decides to give a Social Security increase you will give most of it back in the form of a higher Part B premium.

A brief reminder on prescription coverage. Goodrx.com has saved some people money on their prescriptions and could save you some money on name brand drugs if you have not already tried it. CVS has been sued again for charging certain people with insurance much more for a prescription than someone with no insurance. So it might pay to see how much your pharmacy would charge you if you had no insurance at all since there is no rule or law that says you must use your insurance card. If you are on any tier 3 or tier 4 drugs, check with your doctor to see if there are any tier 2 drugs that you could switch to. Also remember to ask if there are any pills that you could cut in half. If the doctor doubles the dosage and you cut them in half that would usually cut your cost in half as well.

July will be the start of the first Baby Boomers turning 70 ½. That means they will be subject to the Required Minimum Distribution (RMD) from their IRA or 401K. For those fortunate few that don’t need to take it out and want to save it for their kids or grandkids or charity, I have a couple of nice options for you. One is to put your RMD into a certain life insurance policy that you can leave to your grandkids tax free AND still have access to the cash if you ever need it. Another option is a QLAC or Qualified Longevity Annuity Contract. The law allows up to 25% of a 401K to be transferred and push back the RMD from age 70 ½ to age 85. This allows the money to grow longer and if you pass away before age 85, it goes to your beneficiary.

For those that need diabetic testing supplies I have made a contact with Gaby Becerra from Advanced Diabetic Supply. She works with all Medicare companies and can get you glucometer, glucose testing strips, and lancets. They have free shipping and it only takes five minutes on the phone to order. Mention my name and they will upgrade your meter for free. Her number is 877-868-9856 xt. 7277.

When was the last time you had your Power of Attorney (POA) updated? The POA for healthcare (Advanced Healthcare Directive) should be reviewed every 5-7 years. If yours was done before 2003 – and many were – they are now worthless. General Durable POA’s created before March of 2012 are also very much outdated. It’s also important to have your life insurance reviewed every few years. People are living longer so prices have come down and final expenses have also gone up. Let me know if you would like a quote as I represent over 2 dozen companies.

Those of you who are single with income below $18,000 a year ($24,000 for a couple) and savings under $14,000 ($27,500 for a couple) may be eligible for the Low Income Subsidy (LIS) through Medicare. This can significantly lower your costs for prescription drugs. If you are near this level call Social Security and ask them to mail you a form to complete to see if you qualify. Be sure to let me know if you do qualify because I may be able to help you lower your expenses as well with certain programs only available for people with LIS.

On a personal note, my family is doing well. My youngest, Andrew, will graduate high school this spring as a valedictorian. He will be going to Moody Bible Institute in Chicago for pastoral studies. Nathan is still working hard and doing well at the University of Akron’s engineering program. My wife and I stay busy outside of work helping with 4H, school fundraisers, Lions Club, and church. And speaking of the Lions Club, we are having a raffle on Saturday, April 30th at the Portage County Fairgrounds at 5:30. The Grand Prize is $10,000 plus there are another 20 prizes and dinner with the $25 ticket. There will also be other side raffles along with a Chinese basket auction, 50/50, and side boards. Tickets will be sold at the door or you can call me for some.

I will occasionally put items on my website, boringinsurance.com, that you may be interested in . So please check it out once in a while. Also, if you would give me your email I could just email you to let you know when I put something new on my site as well as future newsletters.

Thanks again for your referrals and please keep them coming.

Take Care,

Chris Boring

330-654-5894