If you miss important financial date or a deadline, you will be on the hook to pay the fine or miss the chance to save a tidy sum. Edition of Money Talks News has gathered the 3 most important financial dates in February 2020, which is definitely not to be missed.
All — month open enrollment period Medicare Advantage
As if the Medicare system is not sophisticated enough, so besides the Federal health insurance program has not one, but two of the annual open enrollment period.
The annual open enrollment period for Medicare is October 15 to December 7 annual open enrollment period for Medicare Advantage plans — from 1 January to 31 March.
Medicare Advantage, one of the two major types of Medicare, is insurance coverage offered by private insurance companies, such as HMO and PPO that are approved by Medicare.
During this upcoming enrollment period people with Medicare Advantage plans (with prescription medications or without) have the ability to perform one of the following:
Switch to another Medicare Advantage plan (with or without prescription coverage).
Switch from Medicare Advantage back to Original Medicare (with or without inclusion of registration in terms of drugs).
15 February — the beginning of the state tax holidays
You may have heard about the tax break, which some States do every summer to give parents and pupils the opportunity to buy school supplies without paying sales tax. However, this is not the only type of state tax breaks.
For example, some States have an annual tax holiday for energy efficient appliances or means to ensure readiness for emergency situations. And the first two of those other tax breaks 2020 in February, according to the Federation of tax administrators:
Maryland: tax holidays for energy efficient appliances — 15-17 Feb.
Al: means to ensure the emergency preparedness of 21-23 February.
29 February — leap day
This year is a leap year, so February has an extra day, February 29. This day, called a leap year usually occurs every four years and is added to synchronize the calendar year with the astronomical or seasonal year.
Although it is not initially financial date this is the date on which you need to know so you can make sure it does not cancel the procedure monthly billing or other procedures.