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IRMAAs and the Open Season Connection – Proceed with Caution

Posted on Friday, 15th November 2024 by Dennis Damp

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If your income has or will increase due to Required Minimum Distributions (RMDs) or accrued interest, dividends, and capital gains from your cash and investments, review the Part B and D IRMAA premiums listed below. Income Required Monthly Adjustment Amounts (IRMAAs) make Medicare Advantage Plans less attractive despite providing Part B subsidies. The Centers for […]

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2025 FEHB & PSHB Healthcare Plan Selection Guide

Posted on Friday, 8th November 2024 by Dennis Damp

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Please forward this article to others who can use this “Open Season” information. Open season starts on the 11th of November, this coming Monday. Tools are available to evaluate provider options, select your 2025 plan, and submit changes to OPM. Use this guide to walk you through the process and follow the links for additional […]

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Medicare Advantage Plan Primer – What You Need to Know

Posted on Saturday, 2nd November 2024 by Dennis Damp

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I receive many questions about MA options; few know what to expect or who pays for what. Hopefully, this article will answer many of your questions and provide insight into coverage issues that may arise in certain areas. Follow the links to learn more about subjects of interest. Click on this banner to sign up […]

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Consider Lower Cost FEHB Plans When Signing up for Medicare

Posted on Friday, 25th October 2024 by Dennis Damp

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It makes sense to look for a lower-cost Federal Employee Health Benefit (FEHB) plan, especially when signing up for Medicare. This is particularly true if you pay Part B premiums and possibly an Income Required Monthly Adjusted Amount (IRMAA). Get started with a complimentary retirement planning session and a FREE retirement planning report When you […]

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2025 COLAs and the Medicare & You Handbook

Posted on Friday, 11th October 2024 by Dennis Damp

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More than 71 million Americans will see a Cost-of-Living Adjustment (COLA) of 2.5% in their Social Security benefits and Supplemental Security Income (SSI) payments in 2025. Social Security retirement benefits will increase on average $49 per month starting in January. Federal retiree annuities under the Civil Service Retirement System (CSRS) receive the full 2.5% increase […]

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Fixed Income – Yields Decrease as Feds Reduce Rates

Posted on Friday, 4th October 2024 by Dennis Damp

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The Federal Reserve lowered its benchmark interest rate September 18th by .5 percent (50 basis points), the first rate cut in four years! This rate cut lowers the Fed’s benchmark short-term rate to 4.75% to 5% from a 23-year high of 5.25% to 5.5%. The cut slightly eased borrowing costs for consumers across the board. […]

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2025 Health Care Premiums, Hold on to Your Hat!

Posted on Friday, 27th September 2024 by Dennis Damp

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Federal employees and annuitants enrolled in the Federal Employee Health Benefit’s (FEHB) program will pay 13.5% more, on average, for their health care premiums.   Get started with a complimentary retirement planning session and a FREE retirement planning report. Adding this huge increase to the 7.7% premium rise for 2024, and 2023’s 8.7% increase we are all […]

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2025 FEHB & Medicare Plans – Changes on the Way

Posted on Friday, 6th September 2024 by Dennis Damp

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The 2025 Federal Employee’s Health Benefit (FEHB) Open Season will run from November 11 through December 9, 2024. Open Season starts every year on the Monday of the second full work week in November and ends on the Monday of the second full work week in December.   Get started with a complimentary retirement planning […]

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