Medigram, the Wisconsin Medical Society’s electronic newsletter for physicians, features timely news, upcoming events, answers to frequently asked questions and the information you need to make your practice run more efficiently. Topics include legislative updates, legal information, practice management information, government regulations, and much more. Medigram is delivered via email on Thursdays.

If you have a Medigram story idea or would like to offer feedback, please email us or call 866.442.3800.

It’s White Coat Campaign time again!
Help us warmly welcome the incoming class of first-year medical students to the profession of medicine by participating in the Wisconsin Medical Society Foundation’s White Coat Campaign.

Plan to sell I bonds
I bond interest rates are expected to drop to an annualized rate of 3.79% in May. With money markets more than 4.5% and CDs yielding more than 5%, it’s time to start planning an exit of this investment.

Study in latest issue of WMJ explores trends in e-cigarette use
Cigarette smoking has been on the decline for decades among all age groups, both in Wisconsin and the United States. However, e-cigarette use—or vaping—has increased markedly since its introduction over 10 years ago.

Help your Medicaid patients through unwinding
The Wisconsin Department of Health Services (DHS) will host a Medicaid Provider Toolkit and Fee-for-Service Report webinar on Friday, April 28 at 1 p.m.

The solution to the ongoing EEG tech shortage
Advocate Health and Carroll University have partnered to create a seated Bachelor of Neurodiagnostic Technology Program.

Financial literacy resources for medical students, physicians
Reducing financial stress gives physicians and medical students the brain space to focus on more important things like their loved ones, hobbies and the practice of medicine. Because of this, WisMed Assure and the Wisconsin Medical Society Foundation partnered to create the Financial Literacy Series: What I Wish I Knew.

It’s White Coat Campaign time again!

White coat campaign - Sponsor a coat!

Help us warmly welcome the incoming class of first-year medical students to the profession of medicine by participating in the Wisconsin Medical Society Foundation’s White Coat Campaign. With a gift of $100 you can provide a white coat and personal message of welcome and encouragement for a first-year medical student attending school in Wisconsin. Please help us to make sure every student receives their first White Coat this year.

Wonderful connections that span generations between young students and practicing or retired physicians have been made through the Foundation’s White Coat Campaign. There’s something extremely special about the moment a student is handed their first coat along with a heartfelt note of welcome. It’s a small act with a big and lasting impact.

The white coat distributions will begin on July 5, so please respond today. We need your help to make sure that every first-year medical student in Wisconsin receives a coat and note of welcome! Click here to donate online or email foundation@wismed.org.

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Plan to sell I bonds

I bond interest rates are expected to drop to an annualized rate of 3.79% in May. With money markets more than 4.5% and CDs yielding more than 5%, it’s time to start planning an exit of this investment.

How I bonds work

I bonds are government issued and pay a fixed interest rate plus an inflation adjuster. The interest rate is announced in May and November each year. However, each investor’s rate resets every six months from their purchase date. For instance, someone who purchased in March of 2022 would have their interest rate reset every March and September. That means the expected 3.79% reduced rate that starts in May 2023 won’t impact this investor until September 2023.

Other rules for I bonds

  • You must hold them for a minimum of 12 months.
  • Redeeming them between one and five years will cost you three months of interest.
  • The growth is taxed as ordinary income for federal purposes, but it is not taxable on your WI tax return.
  • Each person is limited to $10,000 per year with an additional $5,000 purchase available via tax refund.
  • I bonds cannot be purchased in retirement accounts.

Timing the I bond sale

Assuming you have a higher paying replacement investment, here are a few considerations.

  • For bonds owned more than five years, sell as soon as the rate drops.
  • For bonds owned less than five years, it’s probably best to sell three months into the lower interest rate. Remember, the early redemption penalty charge is the last three months of interest. So, let’s make the penalty three months of low interest instead of three months of high interest.
  • Most people pay tax on I Bond interest for the year when they sell the bonds. If your six-month renewal is close to yearend, cashing in this year or early 2024 could push the taxable income onto the 2023 or 2024 tax return respectively.
  • Do you have a child in college this year or starting college in 2024? You might qualify to exclude the I Bond income from your tax return if there are qualified education expenses on that same return. Note – the exclusion is not available if your modified adjusted gross income exceeds $100,800 single or $158,650 married filing jointly (2022 limits).

What to do with the proceeds

  • Pay off debt like auto loans and credit cards.
  • Build your emergency fund to three to six months of living expenses.
  • Maximize your tax-free backdoor Roth IRA and Health Savings Accounts.
  • Start or add to your taxable investments to pay cash for a future car, home improvement or retirement. Especially with taxable investments, see the seven ways to improve performance.

Should I buy I bonds Before May 1?

No. A similar low or no risk investment like CDs currently yield more than 5%, which is more than I bonds. Here’s the math: Buying I bonds before the end of April nets 6.89% for six months, 3.79% for the next six months and 0% for the three month penalty period. That’s equivalent to 4.29% for 15 months.

For personalized help eliminating debt, investing smart and securing retirement, please contact Mark Ziety, CFP®, AIF® 608.442.3750.

WisMed Financial
Mark Ziety

Mark Ziety, CFP®, AIF®
WisMed Financial, Inc. part of the Wisconsin Medical Society. 

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Study in latest issue of WMJ explores trends in e-cigarette use

WMJ issue cover

Cigarette smoking has been on the decline for decades among all age groups, both in Wisconsin and the United States. However, e-cigarette use—or vaping—has increased markedly since its introduction over 10 years ago. A study in this issue of WMJ seeks to characterize trends in e-cigarette use among callers to the Wisconsin Tobacco Quit line, to better inform strategies to assist with e-cigarette cessation. Read the full issue here.

Subscribe to WMJ and submit a manuscript here.

WMJ (the Wisconsin Medical Journal) is a peer-reviewed, indexed, scientific journal published quarterly and online ahead of print each month.

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Help your Medicaid patients through unwinding

The Wisconsin Department of Health Services (DHS) will host a Medicaid Provider Toolkit and Fee-for-Service Report webinar on Friday, April 28 at 1 p.m.

Patient advocates and other patient-facing staff will:

  • Learn more about the DHS Provider Toolkit, a communication resource to support talking to patients about the end of continuous Medicaid coverage and upcoming renewals.
  • Learn about how to access fee-for-service reports that DHS is making available to registered Medicaid providers before the reports go live May 1, 2023. 
  • Get ideas on using these reports to support communication with patients using Medicaid.

Click here to register in advance for this Zoom webinar.

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WisMed Assure - Insurance Solutions for the health care community

The solution to the ongoing EEG tech shortage

Advocate Health and Carroll University have partnered to create a seated Bachelor of Neurodiagnostic Technology Program. Students learn to customize every study they complete to improve quality and integrity. In their junior year, students study EEG and learn how to collect impactful history and perform/audit both EEGs and LTMs. Students are fully independent upon passing their R. EEG T. in May. In the student’s senior year, they focus on evoked potentials and intraoperative monitoring. Seniors complete their R. EP T. in the fall and are board eligible for CNIM and CLTM upon graduation.

Upon graduation, students are able to perform all types of EEGs on neonatal, peds and adults, LTM, AEEG, SSEP, BAER, VEP, ERG and IONM. They have a basic understanding of TCD, EMG, PSG, MSLT and MWS. Finally, every fall students work on recycling old EEG machines in order to turn them into off-grid devices. They also donate their time back to free clinics to provide for those who would not be able to have an EEG otherwise.

The program is searching for employment opportunities for students and for guest speakers on topics about which you are passionate.

For more information, please check out the program website, learn about neurodiagnostic technology here or connect with Tabitha Althoff, program director and clinical educator at tabitha.althoff@aah.org.

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Financial literacy resources for medical students, physicians

WisMed OnCall podcast logo

Reducing financial stress gives physicians and medical students the brain space to focus on more important things like their loved ones, hobbies and the practice of medicine. Because of this, WisMed Assure and the Wisconsin Medical Society Foundation partnered to create the Financial Literacy Series: What I Wish I Knew. This podcast series covers a range of topics including buying versus renting, taxes and retirement. Presented by University of Wisconsin School of Medicine and Public Health medical student Rufus Sweeney, the series features the financial wellness course he developed with a grant from the Wisconsin Medical Society Foundation. Click here to check out the full series.

Wisconsin Medical Society members can take advantage of additional financial services, including personalized financial planning through WisMed Financial and scholarships and loans through the Foundation.

WisMed Assure

For additional information, contact WisMed Assure at insurance@wismedassure.org or call 608.442.3810. WisMed Assure is the Wisconsin Medical Society’s insurance agency – profits earned support the mission of the Medical Society.

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