LACERS Retired Members December Update
WISHING YOU HAPPY HOLIDAYS AND A SAFE, PROSPEROUS 2023
Season’s greetings from all of us at LACERS. As the year draws to a close, we can’t help but express our sincere appreciation for you. Best wishes in 2023!
HOLIDAY SCHEDULE
The LACERS 800 phone number will not be in service from December 26th through January 2nd in observance of the holidays. Members can still reach LACERS for urgent matters by email at lacers.services@lacers.org. For urgent matters concerning LACERS Health Plans, please email lacers.health@lacers.org. Please keep these dates in mind and plan ahead if you would like to speak with a LACERS representative by phone.
NEW IRS TAX WITHHOLDING FORMS FOR 2023
The Internal Revenue Service (IRS) has released a new federal tax withholding form for pension payments in 2023. The new IRS W-4P form will be required for any withholding changes received after December 12, 2022, for payrolls processed in 2023 and beyond. You DO NOT need to submit a new form unless you would like to make changes to your withholdings. If you reside in California and you wish to change your state tax withholding election, you will need to submit a separate DE-4P state tax withholding form. These forms and Frequently Asked Questions are now available. LACERS is not authorized to provide tax advice. If you are seeking tax guidance or advice, we recommend you speak to a tax professional.
ANTHEM MEDICARE PREFERRED (PPO) PLAN SURVEY
If your current medical plan is the Anthem Medicare Preferred (PPO) plan, please kindly take a few minutes to fill out Anthem’s Medicare Preferred (PPO) survey to provide feedback. This survey will also be on the LACERS-Anthem microsite. You can access this survey on your computer or mobile phone.
MEDICARE PART B PREMIUMS FOR 2023
Retired Members and their dependents that are eligible for Medicare and are enrolled in a LACERS plan are required to enroll in Medicare Part B. Retired Members enrolled in Medicare Parts A and B with at least 10 years of Service who are enrolled in a LACERS Senior medical plan or participate in the Medical Premium Reimbursement Program (MPRP) are eligible for a reimbursement of their standard (basic) Medicare Part B premium. For 2023, the standard (basic) monthly Medicare Part B premium amount will be $164.90 a month, a decrease from $170.10 in 2022. This amount does not include Income-Related Monthly Adjustment Amounts nor late enrollment penalties.
If you are a Retiree whose Medicare Part B premium is deducted from your Social Security Benefit check and the amount is less than $164.90 a month, you will need to submit proof of the amount to LACERS so that your reimbursement amount can be adjusted. An audit regarding Part B reimbursements will be conducted in 2023.
MEDICARE PART B DEDUCTIBLE FOR 2023
For 2023, the Medicare Part B annual deductible will be $226.00 (a decrease from $233.00 in 2022) for Members and dependents enrolled in LACERS Anthem Blue Cross PPO Part B only plan. This deductible is the amount of money that you have to pay before your insurance starts covering the cost of your healthcare expenses.
UPCOMING BOARD OF ADMINISTRATION MEETING
The next meeting will be on Tuesday, January 10, at 10:00 a.m. Click here for more information.
*ADA Statement: Sign Language Interpreters, Communications Access Real-Time Transcription, Assisted Listening Devices, or other auxiliary aids and services may be provided upon request. To ensure availability, you are advised to make your request at least 72 hours before the meeting you wish to attend. Due to difficulties securing Sign Language Interpreters, notice is strongly recommended for five or more business days. For additional information, please contact (800) 779-8328 or RTT (888) 349-3996.