Carmichael Insurance Group

Turning 65 soon? 📅

One of the most important Medicare decisions you’ll make happens during your Medicare Supplement (Medigap) Open Enrollment Period.

During this 6-month window, you may qualify for coverage with:

✅ Guaranteed acceptance
✅ No health questions
✅ No waiting periods
✅ More plan options and flexibility

Waiting too long could mean higher costs or even denial of coverage later.

The best time to protect your healthcare and retirement savings is when you first enroll in Medicare Part B.

Questions about Medicare Supplement plans or enrollment timing? We’re happy to help.

📞 Hadley Carmichael – Carmichael Insurance Group
(720) 271-0635
[email protected]

Medicare has several parts — and understanding how they work together can make a big difference in your healthcare coverage.

Here’s a quick overview:

🩺 Part A – Hospital Insurance
Helps cover inpatient hospital stays, skilled nursing care, hospice, and some home health care.

👨‍⚕️ Part B – Medical Insurance
Covers doctor visits, outpatient services, preventive care, and medical equipment.

📋 Part C – Medicare Advantage
An alternative way to receive your Medicare benefits through private insurance plans that often include additional benefits.

💊 Part D – Prescription Drug Coverage
Helps cover the cost of prescription medications.

Medicare can feel confusing — but you don’t have to figure it out alone.

A Medicare Benefits Advisor can help explain your options, guide you through enrollment, and make sure you choose a plan that fits your needs.

If you have questions about Medicare, reach out and get the guidance you deserve.

📣 Social Security Announces 2.8% COLA Increase for 2026 — What Retirees Should Know

The Social Security Administration just announced a 2.8% Cost-of-Living Adjustment (COLA) for 2026. For the average retiree, this will mean about $56 more per month in benefits starting in January.

While any increase is welcome, many retirees are still feeling the pinch of higher prices on everyday essentials—especially those who rely on Social Security as their primary source of income (which is about 40% of older Americans).

Here are a few key points to keep in mind:

✅ How Your Check May Change:
Multiply your current monthly benefit by 2.8% (0.028) for an estimate of your new 2026 benefit.

⚠️ Medicare Will Impact Your Net Benefit:
The projected Medicare Part B premium increase could be 11.6%—rising to $206.50/month (up $21.50). Because most enrollees have their Part B premium deducted directly from their Social Security check, the actual “take-home” increase may be smaller.

💡 Taxes Can Also Reduce Your Monthly Payment:
Beneficiaries can choose to have 7%, 10%, 12%, or 22% of their monthly Social Security payment withheld for federal taxes. Understanding whether withholding makes sense for your situation is important for tax season planning.

📬 When Will You Be Notified?
SSA will mail notices with your exact 2026 benefit in early December. You can opt to receive this electronically by creating or logging into your my Social Security account.

🧠 What This Means for Medicare Beneficiaries

As a Medicare Benefits Advisor, I always remind retirees: COLA increases and Medicare premium changes must be reviewed together. A benefit increase doesn’t always mean more money in your pocket if healthcare costs outpace it.

If you're approaching retirement—or already enrolled in Medicare—now is a great time to:

🔹 Review your 2025–2026 healthcare budget
🔹 Check your Medicare plan to ensure it still fits your needs
🔹 Evaluate whether tax withholding or IRMAA could affect your benefits

If you’d like help reviewing your Medicare costs alongside your Social Security benefits, I’m here as a resource.

Are you concerned the 2.8% increase won’t keep up with your expenses?
Share your thoughts below — I’d love to hear how retirees are feeling about this year’s COLA.

🛡️ What to Do If Your Medicare Advantage Plan Is Cancelled
For Colorado Medicare Beneficiaries

Many Coloradans are facing unexpected cancellations of their Medicare Advantage (MA) plans for 2025. Nationwide, an estimated 3 million MA plans have been cancelled — the most on record — as several major insurers exit markets or consolidate offerings. Here in Colorado, where roughly 64% of Medicare-eligible residents are enrolled in MA plans, this disruption is hitting hard.

What a “Plan Cancellation” Means
If your plan is being discontinued, you’ll receive a non-renewal notice indicating your coverage ends December 31. On January 1, you’ll automatically return to Original Medicare (Parts A & B) unless you choose a new plan. The good news: you have several options.

✅ Your Options

Choose a New Medicare Advantage Plan

During Open Enrollment (Oct 15 – Dec 7) you can switch to another MA plan.

Because your plan is ending, you also qualify for a Special Enrollment Period to join a new plan outside those dates.

Compare premiums, provider networks, drug coverage, and extra benefits (dental, vision, hearing).

Return to Original Medicare + Part D + Medigap

When your plan ends through no fault of your own, you have guaranteed-issue rights to purchase a Medigap (Supplement) plan without medical underwriting.

You’ll also need to add a standalone Part D prescription plan.

This route can cost more monthly but allows broad provider choice.

Do Nothing = Risk Coverage Gaps

If you take no action by December 31, you’ll default to Original Medicare on Jan 1.

That means no drug coverage or supplemental benefits until you re-enroll, potentially leaving costly gaps.

📅 Important Deadline: December 31

This deadline differs from general open enrollment. If your plan is cancelled, you must select new coverage by Dec 31 for uninterrupted benefits on Jan 1. Waiting beyond that may limit your options or delay coverage.

🧭 What To Do Now

Review your non-renewal notice carefully.

Make a list of your doctors, prescriptions, and needed benefits.

Compare available plans in your county at Medicare.gov