6 Financial dates and deadlines in October 2021

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Life moves fast. It’s easy to get distracted. But this can be expensive.

If you miss an important financial date or deadline, you could incur a fine or lose a limited time opportunity to save money.

Enter the string “Financial calendar”.

In this release, we’ve rounded up the noteworthy money dates for October 2021. Take a look and mark your calendar with any dates that apply to you.

Oct 1 – New FAFSA Available

If you, your child, or grandchild is going to college next year, keep the Free Application for Federal Student Aid (FAFSA) form for the 2022-2023 school year available starting October 1.

You’ll find the form on the website of Federal Student Aid, a division of the US Department of Education.

FAFSA is key to different types of financial assistance. The Department of Education explains the following:

“[T]The FAFSA form isn’t just an application for ‘free money’ like a Federal Pell Grant, it’s also an application for federal work-study money, federal student loans, and even scholarships and grants from your state, school, or private organization. If you don’t complete the FAFSA form, you could lose thousands of dollars to help you pay for college.”

October 1st is also the first day you can fill out the FAFSA for the following academic year. The federal government gives you until June 30, 2023 to submit the form, but you shouldn’t be late.

Many colleges and states have their own FAFSA deadlines, which can be before the federal deadline. Generally, the sooner you file a FAFSA, the better your chances of receiving help.

“If you would like to receive as much financial assistance as possible, fill out the FAFSA form as soon as possible,” says the Department of Education. “Some financial aid is awarded on a first-come-first-served basis, and some states and colleges ran out of money early.”

October 3 – Temporary US Postal Service Rate Increases Begin

The US Postal Service will again temporarily raise rates for the holiday shipping season. The increases, which will affect services such as Priority Mail Express and Priority Mail, will be in effect from October 3 through December 25. So, if you expect to ship anything via USPS soon, try to get it before October 3.

New rates that will be in effect during this temporary period are available on the USPS website.

Oct 4 – Holiday cosmetics go on sale on Amazon

This month, Amazon will host a new type of sale, a three-week beauty products event called the “Holiday Beauty Haul,” the company recently confirmed to CNBC. The sale is scheduled from October 4 to October 25.

October 15 – Medicare open enrollment begins

The fall open enrollment period for Medicare — the federal health insurance program primarily for people age 65 or older — begins October 15 and runs through December 7.

If you’re on Medicare, this time is your chance to make changes to your health care plan and drug plan for the next year.

In the meantime, stay tuned to Medicare.gov, the official Medicare website. Information about 2022 plans will be available there in October.

Also compile the following documents, which you should review before deciding whether to change your plan for the New Year:

  • Evidence of Coverage (EOC): This document includes information about your current plan, such as what it covers and how much you pay.
  • Annual Notice of Change (ANOC): This document includes any changes to your current plan coverage, cost, or service area that will take effect in 2022.

You should receive these two documents from your current plan in September. If you haven’t received it, Medicare.gov advises calling your plan.

October 15th – Tax return deadline for extension applicants

Did you request an extension from the IRS earlier this year, instead of filing your 2020 tax return by May 17? If so, October 15th is one deadline you don’t want to miss—it’s Tax Day for you.

Dates vary – open enrollment for many employer plans begins

If you have health insurance through your employer, open enrollment will likely begin in October or later this fall. If you’re not sure when to start, check with your employer so you’re not surprised.

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