SRS: It’s time to think about Medicare

Medicare Annual Enrollment Period (AEP) runs from October 15 to December 7 each year. This is when you can review your Medicare coverage and explore options that may better suit your needs. Changes made during the AEP will take effect on January 1 of the following year.

Start by reviewing your Annual Notice of Change (ANOC) from your insurance carrier to understand any plan changes for next year, including covered medications, doctors, and specialists. If you are satisfied with your current Medicare plan, you do not have to take any action during AEP.

For people with Original Medicare, it is recommended you check your Part D medication plan every year. Medicare Part D plan premiums and formularies can vary from year to year, and it is not uncommon to find and switch to a more affordable option. You may save money in premiums and/or prescription costs. You can check using a program called Plan Finder found on www.medicare.gov to see if a better Plan D option is available for you in 2025.

Don’t want to tackle Plan Finder all by yourself? You don’t have to do Medicare evaluations all by yourself. If you want to ensure that you are still in the plans most suitable to your circumstances, you can contact a HICAP trained counselor.

HICAP (Health Insurance Counseling & Advocacy Program) is a non-profit volunteer-based counseling program to help seniors needing education and assistance with the complexities of Medicare, supplemental health insurance and Health Maintenance Organizations. HICAP is organized under the County’s group called Sourcewise, which provides services for seniors and low-income residents. The HICAP volunteers are overseen by paid County employees. 

We are fortunate that the HICAP counselor assigned to The Villages is Douglas Campbell. Doug’s preference for contact is an email to dcampbell@mysourcewise.com. You can include your Medicare questions in the email. Doug will email or phone you back if the answer is short or arrange a telephone or video counseling session if the subjects are more complex. If you prefer to leave a phone message rather than email, his direct number at Sourcewise is 408-610-8059. There is no cost for this service available to you. 

SRS Announcement: Voter information

With all the news about primaries and the upcoming Presidential election, SRS would like to remind new residents to The Villages that they must re-register to vote by October 12, if they have moved to Santa Clara County from a different county. To accomplish this, use the California Online Voter Registration System. This is available at the County of Santa Clara Registrar of Voters home page: www.sccgov.org/sites/rov/Pages/Registrar-of-Voters.aspx.

The home page also describes “Voter’s Choice.” Every registered voter will now receive a vote by mail ballot. You will have three choices how to vote. You can mail your ballot in a postage-paid return envelope or place your ballot in an Official Ballot Drop Box or vote at a Vote Center which will be open for 4-11 days including Election Day. See the website for more details.

SRS Reminder: Don’t forget your IRA RMD

Are you the age who must take a required minimum distribution (RMD) from your traditional IRA? Don’t forget, this must be done by December 31.

If you wish, you may send part or all of your RMD directly to a charity rather than to yourself. This avoids income tax on the distribution. 

Your RMD for 2024 is calculated based on the fair market value of your IRA account on December 31, 2023 and your age on your birthday in 2024. Your IRA monthly or quarterly statement should show the amount of required distribution and the amount you have taken to date.

Note: The Senior Resource Services (SRS) office hours for drop-in assistance are Monday, Wednesday, and Friday from 10 a.m. to noon. The SRS office is in the Cribari Center across from the Post Office. You may also leave a message at 408-239-5253 or e-mail SRS at villagessrs@sbcglobal.net. The purpose of SRS is to provide education and general business and financial information. All assistance is free and confidential. You should ask your professional advisor about your individual situation.