Financial Conversations with Fitz #48 - Exciting News From Medicare on Prescription Drugs - 01/12/2010
Quite a first week of a New Year! I heard a lady after church Sunday say their family was going to try to have their Christmas gathering that day. Hey had a great weekend. Our bank recognition gathering was Saturday. Along with the introductions of new people and the five year awards we had two special awards. Janice Folkerts was honored for 50 years of service to our customers. Another awesome award was to Ed Boyken for 75 years. He did start when he was 22 to help his dad out while he was attending Luther College. Still sharp as a tack. Comes to the bank to visit with the staff and the customers. Sits by the front door and calls them by name.
So how did everybody do with their goals for the first week of the year…..?
Something new came up with the first of the year that was a pleasant surprise for our Medicare people. Don’t know if you have heard Chubby Checker doing the “Twist” on the radio. If you don’t know who Chubby is, you probably don’t have a concern with Medicare. He is promoting a new expansion of a medicare benefit that will affect 1 million low income seniors. It is called “Extra Help”. They used to have a rule that if you had a life insurance policy or help from your family you had to include that in the value of your assets to qualify for help with prescription So the income limits are $16,245 single or $21,855 for married couples living together. Assets are $12,510 for singles or $25,010 for couples. Your house and auto are exempted from this. So if you have been rejected before from help with Medicare because of these variables check with social security. You can sign up on line if you are comfortable. You can also call your local social security office. If you have some general questions on assets ask one of our people at TSB is any of our office.
Remember that you should deal with people in community banks and organizations. When you work with them, you know that you will also see them sitting with them at ball games, church or community events.