THE BUZZ


Financial Health Check: 4 Things You Should Know About Medicare


important changes underway with Medicare cards that you should be aware of this summer, right here in Connecticut.


A Medicare is a national health


insurance program for United States citizens or permanent


residents. Funded by taxes paid by workers and employers, Medicare helps people pay for some medical expenses including hospital insur- ance, medical bills, and prescription drugs.


Participants in Medicare are known as “Medicare benefi ciaries” and carry cards detailing:


• Health Insurance Claim Number (HICN) – the benefi ciary’s unique identifi cation number


• Eligible Services – the types of Medicare coverage the benefi - ciary is entitled to receive


• Coverage Start Date


Historically, the HICN listed on Medicare cards has been benefi - ciaries’ Social Security number. However, Social Security numbers are being removed from Medicare cards to prevent fraud, fi ght identity theft and keep taxpayer dollars safe. The new identifi cation numbers will not affect any services benefi ciaries are entitled to receive.


re you or is someone you love enrolled in Medi- care? There are some


In April 2018, Medicare stopped issuing cards with Social Security numbers to newly eligible Medicare benefi ciaries and began mailing new cards to existing Medicare benefi ciaries. Medicare is continuing to mail new cards to existing benefi ciaries until April 2019.


The distribution of new Medicare cards to existing benefi ciaries is taking place in waves, by state. Connecticut Medicare benefi cia- ries are scheduled to begin receiving their new cards this summer. Distribution of the cards is random by geographic location. If you are a benefi ciary, your card may arrive at a different time than that of your friends or neighbors.


If you or someone you love is a Medicare benefi ciary in Connecticut:


1. Ensure your address listed with Social Security is current; your new card will be sent to the address on fi le. To check your address, visit https://www.ssa.gov/myaccount/


2. Monitor the status of card mailings online at www.medicare.gov/NewCard


3. Watch out for scams and report any suspected instances of fraud, errors, or abuse. Scammers are calling Medicare benefi ciaries and claiming to be employees of the Social Security Administra- tion, Medicare, or the Center for Medicare and Medicaid Services (CMS). These scammers say that they are informing benefi ciaries of the Medicare mailing, and ask benefi ciaries to confi rm personal information.


Medicare will not call you to confi rm your current Medicare


number, coverage, or effective dates. Do not give any of your personal information to anyone over the phone. If you receive a call from someone requesting this information from you, hang up the phone and call Connecticut’s Senior Medicare Patrol (SMP) program at 1-800-994-9422. SMP exists to empower and assist Medicare benefi ciaries, families, and caregivers. The offi ce of the Inspector General wants to know what areas are receiving these fraudulent calls.


4. Use available Medicare resources for guidance and support on this or other topics:


• www.medicare.gov: offi cial U.S. Government Site for Medicare


• http://www.ct.gov/agingservices/SMP: Senior Medicare Patrol (SMP) program services


• CT Area Agencies on Aging: local, private, nonprofi t planning agencies


• http://www.swcaa.org Southwestern CT • https://www.aoascc.org/ South Central CT • http://www.seniorresourcesec.org/ Eastern CT • http://www.ncaaact.org/ North Central CT • http://wcaaa.org/ Western CT


THE SPA IS THE PLACE TO BE


You can book an appointment and buy gift omsoma.com


Phone 860.678.7880 • Text 860.712.1762 10 Natural Nutmeg - July/August 2018


Caroline Wetzel is a Certifi ed Financial PlannerTM (CFP®) and Vice President, Private Wealth Advisor with Procyon Private Wealth Partners, LLC. Procyon Private Wealth Partners, LLC and Procyon Institutional Partners, LLC (collectively "Procyon Partners") are registered investment advisors with the U.S. Securi-


ties and Exchange Commission (“SEC”). This article is provided for informational purposes only and for the intended recipient[s] only. This article is derived from numerous sources, which are believed to be reliable, but not audited by Procyon for accuracy. This article may also include opinions and forward-looking statements which may not come to pass. Information is at a point in time and subject to change. Procyon Partners does not provide tax or legal advice. See ad on page 25.


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44