Are Your Current Medicare Choices Still Working for You?
Navigating the Medicare maze can be daunting. With so many plans and options to choose among, it can be hard to determine if you have the right coverage at the right price until you actually begin to use those benefits, which can sometimes result in buyer’s remorse. Fortunately, Medicare offers several opportunities throughout the year to revisit your choices and change certain types of coverage. This includes Medicare’s open enrollment period (OEP), which takes place from October 15 to December 7, each year.
During the OEP, eligible individuals can join, switch, or drop a health and/or drug plan. Medicare encourages beneficiaries to use this time to review any changes to their plans for the coming year, including premium adjustments, cost-sharing requirements, local network providers, etc. However, one study found that fewer beneficiaries took advantage of this opportunity than expected.1
Prepare now for the 2023 Medicare open enrollment period
Remember, any changes you make during the OEP will take effect on January 1, 2024. To learn more about this or other opportunities to make changes to your Medicare benefits, including special enrollment periods if you and/or your spouse move or change your employment status, visit CMS.gov. If you have questions about managing healthcare costs in retirement, let’s schedule time to talk!
1 Ochieng, Nancy; Cubanski, Juliette; Freed, Meredith; and Neuman, Tricia, “A Relatively Small Share of Medicare Beneficiaries Compared Plans During a Recent Open Enrollment Period.” Kff.org, 1 NOV 2022, https://www.kff.org/medicare/issue-brief/a-relatively-small-share-of-medicare-beneficiaries-compared-plans-during-a-recent-open-enrollment-period/
Ecotherapy Provides an Easy Way to Help Reduce Stress and Anxiety
Shinrin-yoku, the Japanese practice of “forest bathing,” is a form of ecotherapy that continues to gain attention and notoriety for its healing benefits. The practice is believed to significantly reduce stress, anxiety, and depression symptoms. Studies investigating the effect of forest therapy on well-being have also demonstrated a positive impact on cognitive and immune function, as well as blood glucose levels, hypertension, cardiovascular disease, cancer, and pain management.1
What exactly is forest bathing?
What if you don’t live near a forest?
Ready to practice shinrin-yoku?
1 Oh, Byeongsang; Lee, Kyung Ju; Zaslawski, Chris; Yeung, Albert; Rosenthal, David; Larkey, Linda; and Back, Michael, “Health and well-being benefits of spending time in forests: systematic review.” Environmental Health and Preventive Medicine Vol. 22, Article number: 71 (2017) https://environhealthprevmed.biomedcentral.com/articles/10.1186/s12199-017-0677-9
This information was written by KRW Creative Concepts, a non-affiliate of the broker-dealer.
This communication is designed to provide accurate and authoritative information on the subjects covered. It is not, however, intended to provide specific legal, tax, or other professional advice. For specific professional assistance, the services of an appropriate professional should be sought.
Retire Wise | September 2023
September 12, 2023