Phoenix Medicare Insurance

📢 Social Security Update!
In 2024, those receiving Social Security benefits will see a 2.5% Cost-of-Living Adjustment (COLA) increase for 2025. the average SS payment for a 70 year old male is about $2,000 per month, so expect an additional $50 monthly, or $600 annually. The average SS payment for a 70 year old female is about $1,600 per month, so they would expect an additional $40 monthly, or $480 annually. This adjustment is designed to help retirees and other beneficiaries keep pace with inflation. While it may seem modest, it does provide additional financial support for everyday expenses like groceries, housing, and healthcare.
Social Security cost-of-living adjustments (COLAs) are based on readings from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). It has long been a controversy that the CPI-W (versus the CPI-E) does not do a good job of capturing the costs retirees on Social Security face, as it underweights medical care and housing expenses, when calculating the final number.
Keep an eye out for your letter describing the increased amount in your monthly payments!
Also, for those who haven't started Social Security yet, we offer a Social Security Maximization report that can potentially capture thousands more in Social Security payments, just by using a few strategies with timing, when filing for your payment. Call our office for your no-cost, no-obligation report.
Office (480) 878-7444
Stay informed with Rise Financial Group! 🌟
NOTE: CPI-E is short for Consumer Price Index - Elderly, and CPI-W is short for Consumer Price Index - Worker.

The SECURE 2.0 Act of 2022 was signed into law December 29, 2022. This new retirement legislation continues to expand coverage and increase retirement savings.
Rise Financial Group is here to help and we will continue to provide updates over the next few weeks as further clarity is provided. The effective date of most of the changes does not occur until 2024 or 2025, however effective January 1, 2023, the age at which individuals must begin taking RMDs will increase to 73.
If you turned 72 in 2022 and delayed your RMD until 2023 you may still be required to take it by April 1, 2023. Please check with your tax advisor.
To learn about how we can increase your RMD income, call our office at 480-878-7444.

Actor Anne Heche passed away in a car crash last month and did not have a will or trust. She left a 20-year old and a minor child to sort through the mess of her estate.
This also triggers "probate", and unfortunately a lot of her wealth will be swallowed up by lawyers and the courts.
Anne was a young woman, and nobody expects a tragic accident like that to happen anytime, let alone at age 53. However, we continue to hear these stories, and surprisingly, many high net worth actors and actresses don't have their estates in order. Average people may even be worse, according to a Gallop Pole, only 46% of people in the U.S. have a Will & Trust.
The mess of probate doesn't discriminate based on age. One of the biggest reasons for not having a will & trust set up is "I haven't gotten around to it/I've been meaning to do this..."
Do you have your estate in order? If not, what has been the #1 roadblock for you to get your estate in order for your spouse, children, or others? Is it cost? If so, I would like to help, please call our office at 480-878-7444 and request an "Estate Review". This meeting consists of a no-cost, no-obligation review of your personal holdings and property. In some instances, we can clean up your estate in just a few meetings. In other cases, we recommend a Will & Trust to protect your estate at a cost less than $1,000.
Many firms charge upwards of $3,000 for a full Will & Trust. We would like to help and would like to take one of the many burdens off your plate that growing old brings with it...

Anne Heche died without a will, son files to control estate Actor Anne Heche died without a will, and her 20-year-old son has filed court papers to control her estate

We are quickly approaching the 2021 Medicare Open Enrollment Period (OEP). Some pricing is starting to be released, at this time it looks like Part D drug premiums will rise around 5% for 2022. No word yet on Part B premiums which most people have withdrawn from their Social Security check, but with a predicted 6%+ increase in COLA for your SS payment, my guess is that we will see an increase in Part B premium as well. Keep in mind, we have ways to counteract an increase in premiums, one way is through a Part B premium credit. For 2021, I saved about 40 clients $75 per person on their Part B premium, that's $900 per year, or $1,800 for a couple, which goes a long way when you are on a fixed income. Call us today to set up time to sit down during open enrollment, we will see how we can help you too!

Office (480) 878-7444

Article relating to Part D increase ----->

CMS: Part D premiums projected to increase nearly 5% in 2022 to $33 CMS announced that average Part D premiums are projected to increase by nearly 5% to $33 in 2022, up from roughly $30 this year.

Do you know about the changes to the Donut Hole in 2020! Have you met with a Medicare Professional to review your drug coverage options for 2020? If not, it is a good idea to do so, it is highly recommended by CMS (Center for Medicare Services) in order to make sure you are receiving the best premium cost and medication costs for the upcoming year. The Annual Enrollment Period is winding down, contact us before December 7th for a no-cost, no-obligation review of your Medicare Part D drug plan costs. We have saved clients tens of thousands of dollars, you can save too!
Call us at (480) 878-7444 today to speak with a Medicare Specialist!

Smart technology in retirement communities is quickly advancing!

Smart Tech Takes Hold in Retirement Communities From FaceTime to iPods, residents at senior living spaces embrace technology