💵 Gas Under $4, Medicare Season and a Raise on the Way: Your Wallet This Week

Or: A Few Small Moves Now Keep More Folding Money in Your Pocket This Fall

Money news can sound like a weather report from a storm you can’t see. Most of this week’s news is either good or easy to plan around.

Think of this as your weekly trip through the checkbook, with a cup of coffee and no surprises.

Here’s what’s happening: gas has slipped back under $4 a gallon, grocery prices held steady in August, Valley electric rates for October are posted and heating help is opening up, interest rates went up a notch, Social Security’s 2027 raise gets announced Oct. 14, Medicare open enrollment starts Oct. 15 and county property tax bills are now payable.

⏱️ What this means for you in 30 seconds

• At the pump: Tennessee’s average is about $3.94 a gallon, down a dime in a week. Chattanooga is a little cheaper.
• At the store: Grocery prices didn’t budge in August. Eggs are way down from last year, while beef is up.
• Retirees: The 2027 Social Security raise is announced Wednesday, Oct. 14. Forecasts point to about 3.5%.
• Medicare: Open enrollment runs Oct. 15 through Dec. 7. Free, unbiased help is available by phone.
• Homeowners: Sequatchie County property taxes can be paid now, with no interest through Feb. 28.

⛽ Gas Slips Back Under $4, and Chattanooga Is Cheaper Still

AAA reported Monday, Oct. 5, that Tennessee’s average for regular gas fell 10 cents in a week to about $3.94 a gallon. Chattanooga averaged about $3.83, one of the lowest metro prices in the state.

That’s welcome relief after what AAA called the record-high gas prices of September. Prices are still $1.18 a gallon higher than this time last year. AAA figures the average Tennessee fill-up costs nearly $59, compared with about $41 a year ago. Diesel is averaging a little over $6 a gallon statewide.

What it means for you: Prices are heading the right direction. AAA says drivers could see a bit more relief if crude oil stays low. Like saving the good gravy for Sunday, it pays to plan your trips. Combine errands into one run to Chattanooga or Pikeville, keep your tires aired up, and ease off the gas pedal. AAA says all three help. Farmers and truckers watching diesel, fill up when you see a good price instead of waiting for empty.

👉 Read more (AAA Tennessee)

🛒 Grocery Prices Took a Breather in August

The government’s latest price report, released Sept. 11, showed grocery prices were unchanged from July to August. Over the past year, groceries are up 2.2% on average.

Some items moved more than others over the past 12 months:

• Cheaper than a year ago: eggs (down 23%), butter (down about 8%), cheese, bacon and chicken.
• Pricier than a year ago: ground beef (up about 7%), beef overall (up about 6%) and coffee (up about 6%).
• Eating out: restaurant meals are up 3.4%, a bit faster than groceries.

What it means for you: Your grocery bill isn’t running away from you. Grandma knew the trick: cook with what’s on sale. A breakfast-for-supper night with eggs and biscuits, or chicken in place of a beef roast, can stretch the week’s budget without anybody at the table feeling shortchanged.

👉 Read more (U.S. Bureau of Labor Statistics, August price report)

💡 Your October Electric Rate Is Posted, and Heating Help Is Opening Up

Sequachee Valley Electric Cooperative (SVEC) has posted its October rates. For homes, the energy charge is about 7.7 cents per kilowatt-hour plus a TVA fuel charge of about 2.2 cents, for a total of roughly 9.9 cents. Nationally, electricity prices dipped slightly in August.

For families who need a hand with heating bills, Tennessee’s LIHEAP energy assistance program opened its new year on Oct. 1. In Sequatchie County, the program is handled by the Southeast Tennessee Human Resource Agency (SETHRA) at 312 Resource Road in Dunlap. One thing to know: the state agency that runs LIHEAP said on Sept. 30 that federal money for the new year hadn’t arrived yet, so applications are being placed on a waiting list until it does.

What it means for you: At about 9.9 cents per kilowatt-hour, every 1,000 kilowatt-hours costs roughly $99, plus your monthly customer charge and taxes. If you think you qualify for LIHEAP, it’s like getting your name on the list at a busy diner: sign up now so you’re in line when the money comes. Keep paying what you can on your bill in the meantime. United Way’s 2-1-1 line can point you to other local help.

👉 Read more (SVEC rates) · SETHRA energy help

🏦 Interest Rates Went Up a Notch

On Sept. 16, the Federal Reserve raised its key interest rate a quarter of a point, to a range of 3.75% to 4%. It was the Fed’s first increase in about three years.

Mortgage rates climbed too. Freddie Mac said the average 30-year fixed mortgage rate was 7.28% as of Oct. 1, up from 7.03% the week before. A year ago it was 6.34%. The 15-year rate averaged 6.60%. The Fed’s next meeting wraps up Oct. 28.

What it means for you: Higher rates cut both ways, like a two-sided pocketknife. Money in savings can earn more, so it’s worth checking what your bank pays. Credit card balances cost more, so paying those down first is a smart move. If you’re shopping for a home or truck loan, get quotes from more than one lender, including local banks and credit unions. And if you already have a fixed-rate mortgage, your payment doesn’t change.

👉 Read more (Freddie Mac mortgage survey)

👵 Social Security’s 2027 Raise Gets Announced Oct. 14

The Social Security cost-of-living adjustment, or COLA, for 2027 will be set after the government’s September price report comes out on Wednesday, Oct. 14.

Two well-known independent forecasters, The Senior Citizens League and analyst Mary Johnson, estimate the raise at about 3.5%, according to The Motley Fool. This year’s raise was 2.8%. The government’s price measure that drives the COLA was up 3.5% over the 12 months through August.

What it means for you: It’s an estimate until Oct. 14, so hold off on spending it. As a rough guide, a 3.5% raise on a $2,000 monthly check would be about $70 more a month starting in January. Remember that the 2027 Medicare Part B premium, which comes out of most checks, hasn’t been announced yet. It’s expected in November.

👉 Read more (The Motley Fool)

🩺 Medicare Open Enrollment Starts Oct. 15

Medicare open enrollment runs Oct. 15 through Dec. 7. It’s the once-a-year window to switch health or drug plans for 2027.

The Centers for Medicare & Medicaid Services (CMS) said on Sept. 28 that average Medicare Advantage premiums are projected to drop from about $14.37 a month to $12 in 2027. The average stand-alone Part D drug plan premium is projected to rise less than $1 a month, to about $36. CMS also said about eight in 10 Medicare Advantage members can stay in their current plan with the same or a lower premium.

What it means for you: If you like your plan and it still covers your doctors and medicines, you generally don’t need to do anything. But it’s like checking the oil before a long trip. Read the “Annual Notice of Change” letter your plan mailed, then compare options at Medicare.gov. Tennessee’s free State Health Insurance Assistance Program (TN SHIP) will walk you through it at no charge: call 1-877-801-0044.

👉 Read more (CMS)

🏛️ Property Tax Bills Are Payable Now, With Plenty of Runway

In Tennessee, county property taxes become payable on the first Monday in October, which was Oct. 5 this year. They can be paid without interest through the last day of February. After that, interest of 1.5% a month is added starting March 1.

The Sequatchie County Trustee’s office, led by Trustee Larry S. Lockhart, is at 22 Cherry Street in Dunlap. You can also look up and pay your bill online through the Tennessee Trustee website, which charges a convenience fee.

What it means for you: There’s no rush, but there’s no reason to let it sneak up on you either. Some counties accept partial payments, so ask the Trustee’s office whether that’s an option if spreading it out helps. If your mortgage company pays your taxes, check your closing papers or escrow statement. The bill comes to you, not them.

👉 Read more (Sequatchie County tax lookup)

✅ Your Wallet Checklist for This Week

• ✅ Bundle errands into one trip and check your tire pressure.
• ✅ Build a meal or two around eggs, chicken or whatever’s on sale.
• ✅ Need heating help? Apply for LIHEAP now through SETHRA so you’re on the list.
• ✅ Carrying a credit card balance? Pay it down first while rates are higher.
• ✅ Retirees: watch for the COLA announcement on Oct. 14.
• ✅ On Medicare: read your Annual Notice of Change letter, and call TN SHIP at 1-877-801-0044 if you want help.
• ✅ Put your property tax on the calendar before Feb. 28.

Practical rule: Know your deadlines, compare before you switch, and small money moves add up to real savings.

— Dunlap.Today

📚 Plain-English Money Glossary

• COLA: The cost-of-living adjustment, the yearly raise for Social Security checks.
• Consumer Price Index (CPI): The government’s monthly measure of how prices are changing.
• Federal Reserve (the Fed): The nation’s central bank. It sets a key interest rate that affects loans and savings.
• Fixed-rate mortgage: A home loan whose interest rate stays the same for the life of the loan.
• Kilowatt-hour (kWh): The unit your electric bill is measured in.
• LIHEAP: The Low-Income Home Energy Assistance Program, which helps eligible households with heating and cooling bills.
• Medicare Advantage: Private plans approved by Medicare that bundle hospital, doctor and often drug coverage.
• Part D: Medicare prescription drug coverage.
• County Trustee: The county official who collects property taxes.

❓ Frequently Asked Questions

Will gas prices keep dropping?

Nobody can promise that, but AAA said drivers could see modest additional relief if crude oil prices stay low.

When will I know my exact new Social Security amount?

The percentage is announced Oct. 14. Your exact dollar amount comes later in a notice from Social Security, which you can also view in your online my Social Security account.

Do I have to re-enroll in Medicare if I’m happy with my plan?

CMS says people who want to keep their current Medicare coverage generally don’t need to re-enroll. It’s still smart to read your plan’s change letter to make sure your doctors and medicines are covered in 2027.

Somebody called saying they’re from Medicare. Is that real?

Be careful. Medicare.gov says Medicare will never call you to sell you anything or visit your home. Hang up and call 1-800-MEDICARE yourself if you’re unsure.

Can I get LIHEAP money right now?

You can apply now, but the state agency that runs LIHEAP said federal funding for the new year hadn’t arrived as of Oct. 1, so applicants are being waitlisted. Call SETHRA in Dunlap at 423-949-2191 for help with the application.

Does my mortgage company get a copy of my property tax bill?

Not automatically. The bill is mailed to the property owner, and it’s the owner’s job to forward it if a mortgage company pays the taxes.

Where do I pay my Sequatchie County property taxes in person?

At the Trustee’s office, 22 Cherry Street in Dunlap. The office phone is 423-949-2526.

🔗 Other Resources

• AAA: Today’s Tennessee gas prices
• U.S. Bureau of Labor Statistics: Consumer Price Index
• Social Security: Cost-of-living adjustment information
• Medicare.gov: Compare health and drug plans
• TN SHIP: Free Medicare counseling (1-877-801-0044)
• Medicare.gov: Spotting and reporting Medicare fraud
• THDA: LIHEAP energy assistance
• SETHRA: Sequatchie County office
• Sequatchie County Trustee’s office
• Update on the statewide LIHEAP funding delay (Oct. 1)

🌄 Steady Hands, Full Wallet

Nothing on this week’s money list calls for worry. Gas is easing, groceries are steady, and the big dates, Oct. 14 for Social Security and Oct. 15 for Medicare, are easy to circle on the calendar.

We’ll keep an eye on the numbers so you don’t have to. Read Dunlap.Today and sign up for our newsletter for plain-English money updates every week.