Did You Know…?

by Laurie A. Siebert, CPA, CFP®, AEP®, Senior Vice President

Medicare is issuing new cards over the next 12 months in the hopes of protecting your identity and providing more security. Scammers have already found ways to take advantage of the confusion. Medicare will not contact you so beware of anyone who says they are Medicare or requesting sensitive information or payment of any kind. Understand that you will receive your new card in the mail so keep your address updated with Medicare. Other than that, there is nothing for you to do. Because the new cards will be issued over 12 months, you may receive your new card at a different time than your spouse, neighbor or friend. Know that it is coming and there is nothing you have to do but be patient and avoid scammers. Destroy your old card once the new card is received. Medicare has a notice on their website about the new cards – https://www.medicare.gov/Pubs/pdf/12002-New-Medicare-Card-flyer.pdf

Did You Know…?

Last week, a long-established word was suddenly brought back into our everyday vocabulary. It’s spelled with one “r” and two “f’s” – tariff. Thankfully, we have spell-checker to make sure we got it right. That stimulated interest. How many times have we included the word “tariff” in The Weekly Commentary issues during the last 11 years? None – we ran a search on the past issues.

However, the news media has puffed-up its usage. Have they made too much of the steel tariff announcement? Probably, if history is a guide. We will continue to evaluate how tariffs affect you the consumer, business profits, and FED actions; but, we do not see an impact where we need to change your portfolio at this time.

By the way, tariffs were once the chief source of income for the U.S. Government before the passage of the Federal Income Tax legislation in 1913.