Make the Most of Medicare's Open Enrollment Period
Medicare’s open enrollment season is upon us. That means from October 15 until December 7, 2019, you can make changes to your Medicare Advantage and prescription drug coverage. If you’re happy with your coverage, you don’t have to do anything. Even if you’re satisfied, open enrollment presents a great opportunity to make sure you’re getting the most out of Medicare.
Here are some tips to help you get started:
- Ask yourself some important questions: Have your needs changed? Is your current coverage adequate? Will the cost of your current plan be going up? Are there comparable, lower-cost plans available?
- Review the annual notice of change from your current plan provider. You should have received this in September.
- If you have a Medicare Advantage plan, make sure your doctor is still accepting your plan next year. If your doctor has moved out of network, you will have to choose a new plan or pay higher out-of-pocket costs.
- Carefully review if your plan covers your prescription drugs and what those copayments and coinsurances costs are.
- If you switch from a Medicare Advantage plan to Original Medicare, you may want to join a stand-alone Part D plan to get Medicare drug coverage.
- Let us help you compare plans.
- Get one-on-one assistance from the State Health Insurance Assistance Program.
- Call the Medicare Rights Center at 800.333.4114 for free counseling.
- All changes to your Medicare plan will take effect January 1, 2020.
Medicare decisions can be complicated. If you have any questions about open enrollment, plan options for you, or if you’d like to discuss how healthcare costs factor into your overall financial plan, please contact me so we can walk through the process together.
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