N e w s   Y o u   C a n   U s e

C a s t e l l   I n s u r a n c e

November 2011 Newsletter  ~  www.castellinsurance.com

November is finally here and the holidays are right around the corner. The trick or treaters came and went and most of the candy in our office was eaten by our staff! 

We're in the midst of the Medicare Annual Enrollment Period and things are much calmer than in years past, which is a mixed blessing. But more on that elsewhere in the newsletter.

My column in this month's   Sequim Gazette is about the recently announced changes to benefit levels for both Social Security and Medicare. Recipients will receive a cost of living adjustment (COLA) for the first time in three years.  Medicare Part B premiums will be increasing only slightly if at all, and this will result with more money in your pocket

You're going to get a raise for the first time in three years and they are not going to take it all for increased Medicare premiums. 

There, I've told you the bottom line, but please click here to read the entire article for more details.

On the eve of November which just happens to be National Long Term Care Awareness month the Obama administration announced the death of the CLASS act.

The Community Living Assistance Services and Support program, (CLASS act) was a major part of the Affordable Care Act, and was designed to offer Americans coverage for the catastrophic expenses associated with Long Term Care either in the privacy and comfort of their own homes or a care facility.

Less than 3% of all Americans are prepared for an event that will hit over 70% of all people after the age of 65.

The newspaper reports that the administration was unable to reconcile the twin goals of the CLASS ~ financial solvency and affordable coverage easily accessible to all working adults, regardless of health.

The message is loud and clear. People have to take personal responsibility in planning for the costs associated with Long Term Care. While only 5% of all people need care for 5+ years, what would happen to your finances if you need care for the average 2 ~ 3 years at $70,000+ per year, right here in Sequim.

We are now three weeks into the seven week Medicare Annual Enrollment Period and things are quiet, at times eerily so, and that is fine with us.

We have no major changes in plans entering or leaving Clallam County. This is different from past years when hundreds of our clients were forced to switch coverage at this time. That is definitely good news.

Most of our clients are satisfied with their drug plans and feel no change is needed for 2012. 

We continue to receive a steady flow of new clients, primarily from word of mouth referrals from our clients. That is great news.

The only concern we have is that people haven't reviewed their recently received Annual Notice Of Change package which contains a formulary or list of covered drugs. Folks, we can't stress this enough, please take a few minutes to ensure the medications you take are going to be covered by your plan for 2012.

If all you take are low priced generics you will probably be OK, but if you take some higher priced brand name drugs, you need to check.

For example, two fairly common medications ~ Lipitor for high cholesterol, and Combivent an inhaler ~ have been removed from certain formularies. If your medication was removed without your reviewing the formulary, you would be 100% responsible for the full cost of that medication. Combivent had a list price of over $300 per month.