Open enrollment for Medicare starts on October 15th and runs through December 7th. In this month’s blog, we wanted to discuss it a little bit and what you may want to do during this time.
Do I need to do anything in regards to Medicare Open Enrollment?
No matter if you feel you don’t need to update your plan, you should review it and make sure it is right for you. Many individuals on Medicare do not take advantage of the open enrollment and actually end up missing out on saving money. By utilizing this time to review your plan and determine if there is a better option for you, you could end up cutting your premium by 5%!
What can I do during Medicare open enrollment?
During this time period there are some things You should know.
- Did you know there are $0 Premium Advantage plans available?
- Did you know that Medicare Plans change every year?
- Did you know there are Advantage Plans that provide $200 per year for Over-the-counter catalog purchases?
- Did you know that people with limited incomes may qualify for Extra Help to pay for their prescription drugs?
- Did you know that there are important differences between an Advantage Plan and a Supplement Plan?
- Did you know that a Supplement Plan, also known as a “Medigap” Plan offers 7 options?
- Did you know that a Supplement Plan offered today is less expensive than older plans?
- Did you know that a Supplement Plan allows you to see any Doctor any Hospital anywhere?
What do I need to think about when deciding my plan?
There are a few things you need to consider when reviewing your current plan, versus going to a different plan. For starters, you want to make sure your current doctors are still a part of the provider network with your plan. For any prescription drugs you may have to take, you want to make sure they are still on the list of covered drugs. Keep in mind, some drugs can be dropped from the list as this does change from year to year. Lastly, you want to review your out-of-pocket costs based on your plan versus other plans.
Can you help me?
Absolutely! Here at Senior Benefits Services, we are here to help you and make sure you’re getting the most for your money! Give us a call and let’s review your current plan versus what options you have available. We will then help you make an informative decision on what Medicare Plan you should be enrolled into.
Don’t delay open enrollment for the 2022 year only lasts until December 7th! Give us a call and let’s get this done for you!