2023 IRMAA Reimbursement

 If you are eligible for 2023 IRMAA reimbursement, expect it around mid-October provided you submitted your application in a timely manner and, if you collect Social Security, included the November 2022 SSA letter and the 2023 SSA-1099 letter. If you applied for previous years, you will be reimbursed later. If you do not collect Social Security, you must include proof of payment (such as a credit card statement or copies of canceled checks) for the Medicare Part B premium.  If your pension check is deposited electronically, then your IRMAA reimbursement will be deposited electronically into the same account as your pension check. If you receive your pension check by mail, then you will also receive your reimbursement the same way.

If you have not yet applied, you still can. Just submit a completed 2023 IRMAA application (application can be downloaded from the CSA Welfare Fund website) along with required documents to:

CSA Retiree Chapter, Att. Susan Barone, 40 Rector St., 12th Floor, New York, N.Y. 10006

or the Office of Labor Relations, NYC Office of Labor Relations, Health Benefits Program, 22 Cortlandt Street, 12th Floor, New York, NY 10007. 

 

Medicare Part D Changes in 2025

This year, if you have Medicare prescription drug coverage (Part D), your maximum Out-of-Pocket (OOP) expense is $8,000 for prescription drugs before entering Tier 3 or the Catastrophic stage. The good news is that in this stage, you no longer have any prescription drug expenses, no matter the actual cost of the drug.  

 

In 2025, the $8,000 amount decreases to $2,000. This huge reduction is due to the Inflation Reduction Act and market trends and will reduce significantly the financial burden for many seniors with chronic ailments who take expensive drugs.

​

In short, the Catastrophic Tier disappears in 2025. When the year starts on January 1, you will pay 25% and the plan will pay 75% of the plan for your prescription drugs. Once your OOP reaches $2,000, you are no longer required to pay for your prescription drugs.

​

Another major change for prescription drugs is the expansion of Medicare’s ability to negotiate drug prices with the pharmaceutical companies. It is anticipated that the price of many of the more expensive drugs will go down significantly, like Eliquis.

​

Question of the Month

 Q.  I just purchased a set of hearing aids. What do I have to do to submit a claim?

 A. 1)   Go on the CSA Welfare Fund website, www.csawf.org.

     2)   Click on the link, Request a Voucher, that is located on the left side. Remember, The Fund will reimburse you $800 every 3 years for a new hearing aid and the CSA Retiree Chapter will reimburse you an additional $800 after you receive the Fund’s reimbursement. You do not have to fill out an additional application.

    3)   Fill out the form and be sure to indicate in the drop-down menu that you are requesting a hearing aid voucher. 

    4)   In the Notes box, indicate which family member should be issued the voucher.

The voucher has sections for the physician or audiologist, the hearing aid dealer, and yourself to fill out. Please ensure the providers have filled out the sections out correctly and that you have signed the voucher. If you used a non-participating provider, send the completed form to the CSA Welfare Fund Office.

 

Norm Sherman