Money Matters 2022

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sanclementetimes.comSan Clemente Times November 10-16, 2022 Page 17
sanclementetimes.comSan Clemente Times November 10-16, 2022 Page 18

MAKING THE MOST OF YOUR FINANCES

Understanding how to manage your finances has never been more important than now, as interest rates continue to climb and economists and financial experts continue to warn of a looming recession by next year.

Despite evidence of a strong labor market in the latest jobs report, heads of major corporations are still talking about the potential for a recession as a direct result of rising prices and fewer sales.

Those fears of an economic downturn only worsened after the Federal Reserve raised interest rates again in an attempt to tamp down on inflation.

To help give you some peace of mind as you continue to navigate through these uncertain economic times, we turned to the experts for our “Money Matters” special section.

In this year’s guide, you’ll hear from the Kanani Advisory Group on how to make sure your retirement investments are secure by avoiding certain pitfalls.

Also, Insurance 101 Services offers its insights on how Medicare beneficiaries can save money on their co-pays or monthly premiums.

sanclementetimes.comSan Clemente Times November 10-16, 2022 Page 19
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DID YOU KNOW?

The Inflation Reduction Act of 2022 changes the rules for clean vehicle tax credit eligibility in 2023. This effort to reduce carbon emissions is seen as an investment in the energy security of the United States and can also be your investment into lowering your taxes. For the latest information, visit irs.gov.

sanclementetimes.comSan Clemente Times November 10-16, 2022 Page 20

MEDICARE ANNUAL ENROLLMENT PERIOD

Calling all existing Medicare Ben eficiaries, are you looking to save some money on either your monthly premiums, your co-pays, or your prescription drug co-pays? Then the Medicare Annual Enrollment Period (AEP) is the time for you to make a change to your current plan.

All changes made during this time (10/15 – 12/7) go into effect 1/1/23. The biggest way to save money is to see if a Medicare Advantage plan would work for you.

If it does meet your needs, then you cancel your Medicare Supplement and Medicare Drug plan for 2023

because the Medicare Advantage plan gives you that type of cover age and financial protection from medical bills. You’re no longer paying a premium for Medicare Supplement or a Medicare RX plan if you decide to enroll in a Medi care Advantage plan.

These plans in Orange County typically have no or low premiums and are both HMO’s and PPO’s. The Medicare Annual Enrollment Period (also known as AEP) ends December 7th, if you’d like to schedule a no cost Medicare op tions review contact me soon, my calendar is filling up!

MONEY MATTERS sanclementetimes.comSan Clemente Times November 10-16, 2022 Page 21

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