The “Inflation Reduction Act” includes some things that could benefit seniors (even though reducing inflation isn’t one of them).

In 2023  . . . 

Retail drug prices are supposed to be tied to inflation . . . no word on how inflation will be measured. If prices increase above inflation, a rebate will be paid to MEDICARE (not you and me).

No copay for vaccines recommended by ACIP . . . this includes Pneumonia and Shingles vax. If you are like me, and have already had a Shingles vax you are not eligible for a rebate.

Insulin copays for seniors on Medicare will be $35 and not subject to a deductible. For Medicare beneficiaries with an approved CGM insulin pump, your insulin will still be covered by Part B but will be subject to a $35 copay. This change takes effect July 1, 2023.

For more information, read the Forbes article on Part D (“Seniors Won’t See Many of the Benefits for Years”).

Watch your mailbox for the 2023 ANOC (Annual Notice of Change). Sometimes it comes in a big, fat envelope, sometimes it is letter size and non-descript. Regardless, the return address will be your CURRENT PDP carrier. OPEN AND READ.

Some people miss/ignore it only to be surprised when their premium doubles in January (as it has for some in the past), or copays for drugs filled in January are higher than December.

Drug formularies and preferred pharmacies can change, triggering higher costs for you. Don’t just coast into next year assuming your drug plan is looking out for your best interests.

They aren’t . . .

The 2023 Medicare Annual Election Period (AEP), also known as Open Enrollment, officially kicks off on 10/15/2022. SOME previews may be available in early October.

If you want my help, let me know by 9/15 and I will start accumulating your information.

If you have ever lost your child in a store, you can relate to this.

Children are naturally curious and will wander off without fear. We lost our son years ago while shopping in a clothing store. We split up and circled through the department keeping an eye on each other while also sweeping the area in the search.

In a minute or so, Rachel spotted a set of legs under one of those circular racks. RJ found a spot where he could observe without being seen.

Fun for him, not so much for us.

This story of a lost child from Shareably will warm your heart. 

Dogs are smarter than you think.

Please share this newsletter with your friends. The next newsletter should come in early October with more details about what to expect for 2023 drug plans.

Take care,

Bob

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