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Prescription Savings Cards & Coupons

Posted on Thursday, 22nd July 2021 by Dennis Damp

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A number of our newsletter subscribers commented on my article titled, “Unexpected Medical Expenses.”  Several stand out and need further clarifications. One of particular interest was from Richard, he will turn 65 later this year and wanted to know if the drug manufacturer’s “savings card” that he now uses would be accepted after signing up […]

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Unexpected Health Care Costs

Posted on Friday, 9th July 2021 by Dennis Damp

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One of our subscribers was blindsided by an unexpected FEHB plan copayment after reaching age 65.  His copayment for a wellness visit increased from $30 previously to $170 and his FEHB provider stated that they only pay after 65 for what Medicare would pay even if you aren’t enrolled in Medicare. Under the FEHB law, […]

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Maximize Retirement Income & TSP Changes

Posted on Friday, 25th June 2021 by Dennis Damp

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Earlier this year the Thrift Savings Plan (TSP) launched a redesigned website. Concurrently, they announced significant account access and security changes, additional L Fund options, and the ability to submit certain TSP forms online after logging into your account. They sent out a message from the executive director to all participants last February announcing these […]

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Critical Retirement Decisions – Are You Prepared?

Posted on Friday, 11th June 2021 by Dennis Damp

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Retirement is a life changing event that requires considerable research and due diligence. The elections made are often irreversible and can compromise a retiree’s finances and the benefits carried into retirement.  I retired from federal service in 2005 and my articles focus on current events that can and often do affect those planning their retirement […]

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What is Medicare’s IRMAA Premium Adjustment?

Posted on Friday, 7th May 2021 by Dennis Damp

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IRMAA stands for Income Related Monthly Adjustment Amounts. A federal retiree’s total income includes their pension, social security benefits, income from investments (dividends and capital gains), and required minimum distributions from their TSP and other retirement accounts. Many also work part time or own small businesses. All income combined can often increase a retiree’s Medicare […]

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2022 COLA Projections and Prescription Tip

Posted on Wednesday, 21st April 2021 by Dennis Damp

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We can expect a higher COLA increase for 2022. According to Kiplinger’s Magazine the 2022 COLA will Likely increase to 3%, the largest increase since 2012. The final number will be released this October.  There are many variables in the annual COLA calculation and these can change dramatically before the final numbers are tabulated. Request […]

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Life Goes On – Account Access Instructions

Posted on Saturday, 6th March 2021 by Dennis Damp

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Planning for retirement and life in general requires organization and much thought. Long before we retire our significant others require our assistance and this goes both ways. In most relationships, one person takes responsibility for certain aspects of the couple’s life.  Whoever pays the bills and manages financial affairs must have clear and concise instructions […]

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The State of YOUR Affairs – Exposing the Obvious

Posted on Sunday, 28th February 2021 by Dennis Damp

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I’m often astonished after performing a due diligence update on my family’s state of affairs. You too will find reason to pause after putting pen to paper and discovering where you and your family stand financially. Not only your current status, but what a surviving spouse and heirs will have to live on when the […]

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