Autumn is showing it’s true colors again this year. My fall pick me up is getting outside, smelling the air, noticing the trees and feeling a chill in the air – beautiful! As we clear the fallen leaves outside, it’s a great time to clear what’s fallen behind inside too.
If you’ve not kept up on some of the 2020 plan changes for Social Security and Medicare, Social Security announced Wednesday that the cost of living adjustment (COLA) will increase Social Security benefits by 1.6 percent in 2020, an average of about $24 per month for individuals. To read the Social Security Administration announcement, here is the link: https://www.ssa.gov/news/cola/
Medicare Changes in 2020. Starting in 2020, there will be no more first-dollar coverage plans available to those who are considered Medicare eligible after 2020. First-dollar coverage plans are Medicare Supplement Plans that leave you with zero out of pocket costs. The Medicare Part B premium will also be increasing. See https://www.medicarefaq.com/faqs/medicare-changes-2020/ for additional information.
Health Care Open Enrollment time in California begins 15 October. For other states, the 2020 Open Enrollment Period runs from Friday, November 1 to Sunday, December 15, 2019. Check dates and deadlines for your state: https://www.healthcare.gov/quick-guide/dates-and-deadlines/
You may wish to keep aprised about pre-existing conditions in the courts currently. The Kaiser Family Foundation provides frequent articles to keep you up to date. Here is the article about pre-existing conditions: https://www.kff.org/health-reform/issue-brief/pre-existing-condition-prevalence-for-individuals-and-families/
Here’s an FYI for self-employed individuals about paying FICA Taxes: https://www.inc.com/mediafeed/ken-boyd/can-i-pay-fica-taxes-as-a-self-employed-person.html
The IRS posted information about tax reforms impacting businesses in 2020. Employers need to know about important changes to fringe benefit deductions. These changes can affect a business’s bottom line and its employees’ deductions. Read more from the IRS here: https://www.irs.gov/newsroom/irs-highlights-tax-reform-changes-that-affect-businesses
When your day looks a bit like this blur of a picture, stop for a second. Yes, the frenetic pace we live can pause for a quick breath in and out. It is fall after all!
Let’s talk about taking on those “life and work issues” you’ve left behind this year. Isn’t it time? You have much at stake and a lot to gain by taking care of the business of life at home and work.
Reach out with questions via Email. Additional information is available upon request or on the website @ The Living Planner
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