Insurable Interest Canadian Insurance Blog

House members voted 366-34 for the ARA, 2025 package. All members who opposed the package were Republicans. Senate members approved the package by an 85-11 vote. At press time, the party breakdown was not available. Package details: The new spending package: Maintains current provisions that boost Medicare reimbursement rates for doctors and hospitals. Maintains current provisions that boost Medicare reimbursement rates for ambulance services. Extends the current, temporary Medicare telehealth coverage rules, which are more flexible than the older Medicare telehealth coverage rules and were adopted in response to the COVID-19 pandemic. The package excludes Further Continuing Appropriations provisions that would: Require Medicare Advantage plans to review their provider directories more often and correct errors promptly. Move toward having Medicare cover Grail’s Galleri blood test and other blood tests that screen people for many different kinds of cancer at the same time. Limit pharmacy benefit managers that serve Medicare prescription drug plans to collecting service fees and prohibit the PBMs from basing compensation on the value of discounts negotiated. Reauthorize the Older Americans Act. Sen. Ron Wyden, R-Ore., said he was unhappy about provisions like the provider directory provision dropping out of the anti-shutdown package because of Trump’s complaints. The...

The Social Security Fairness Act, which passed by a vote of 76 to 20, ensures public sector workers and their families can receive full Social Security benefits by repealing the two penalties that reduced benefits for nearly 3 million Americans. “Today is a day to celebrate!” added Sen. Bill Cassidy, R-Louisiana, late Friday in a statement. “State and local workers in Louisiana deserve the full Social Security benefits they’ve earned. Now they will get it. This was a long overdue step. Now we must save Social Security from insolvency in nine years for every American.” The Senate vote “delivers us to the doorstep of a long-sought goal — to restore fairness to a system that has worked incredibly well for nearly 90 years to provide American workers with basic financial security,” Max Richtman, president and CEO of National Committee to Preserve Social Security and Medicare, added late Friday in another statement. The Committee said it supports the bill “because it removes an unfairness in the system by allowing teachers, firefighters, and police officers (among others) and their families to collect Social Security benefits. Our members and supporters have made it clear that they want the WEP & GPO repealed.”

Costco carries this one. If your client is a fan of Iberico ham from Spain or prosciutto from Italy, this is a great themed gift. The box is quite large. It includes an entire leg of cured meat, with the stand and a carving knife! 5. Christmas Pudding Cost $35-$50 Are they an Anglophile? Watch much Bridgerton or Downton Abbey? This variation on fruitcake is a British classic. You often see it served with brandy poured on top and set alight, producing a blue flame. Williams Sonoma carries a two-pound one for about $50. The British firm Tiptree has a two-pound version for about $35. They say that size serves 10 people. You can also find ones about half the size in the mid-$20s. 6. Omaha Steaks Cost: $85-$89 You have seen them advertised. You get their mailings. Four filet mignons, 6 oz. each, run about $84.00. They have a more extensive package, featuring four top sirloins, with lots of other stuff at $89.99. 7. Caviar Cost: Varies Here’s a luxury item! Zabars, the famous deli in New York, carries American Hackleback Sturgeon caviar at $75 for a 2-ounce jar. They also sell red salmon caviar for $80 a pound,...

Advisor tip: Ensure your clients are aware of their total premium cost for 2025, including the increased Part B and Part D premiums. 2. Medicare Part B Premium Adjustments: What’s changing? Premiums for Medicare Part B outpatient and physician services coverage will adjust for inflation. The surcharge known as the income-related monthly adjustment amount, or IRMAA, will apply to higher-income beneficiaries. The IRMAA adjustment tier for 2025 premiums will be based on beneficiaries’ modified adjusted gross income for 2023. What it means for beneficiaries: Inflation-based adjustments to IRMAA brackets could shift some beneficiaries into different IRMAA tiers. Advisor tip: Help clients understand their MAGI calculation and appeal IRMAA surcharges if their income was temporarily elevated in 2023 due to unusual life events, such as a retirement or a one-time capital gain. 3. Additional Benefits Under the Inflation Reduction Act: What’s changing? Free vaccines recommended by the Advisory Committee on Immunization Practices and caps on annual Medicare Part D prescription drug plan premium increases will take effect. What it means for beneficiaries: Reduced costs for preventive care and predictable premiums. Advisor tip: Educate clients about these benefits and encourage them to utilize preventive services. Broader Considerations And Looking Ahead While the...