Medicare Annual Enrollment is Just Around the Corner
Each fall, Medicare beneficiaries have the opportunity to review their healthcare plans and choose a different one if they wish. Medicare Annual Enrollment runs from October 15 to December 7 every year. And while that might seem like the distant future at this point, it’s really just around the corner. For a decision as important as your Medicare plan, it makes sense to start researching your options early. Take the following steps now, to ensure you’re ready to make a decision in October.
Read all mail from Medicare or your plan administrator. Providers are required to issue an Annual Notice of Changes prior to October 15. This notice will detail any changes that have been made to your current Medicare plan, allowing you to assess whether it is still the right plan for you. This information also helps you to plan your budget for the next year, and consider other options such as supplemental insurance.
Research other plan options. Numerous options are available to you, from Original Medicare to Medicare Advantage plans, to supplemental and prescription plans, and more. Look closely at drug formularies; each plan covers different medications and you want to be sure yours will be covered as much as possible. Even if you feel satisfied with your current plan, you won’t know that something better is available unless you look!
Review your budget. Did your spending on healthcare line up with your budget this year? Or did you spend too much? Do you wish you could do better? How does your budget look for next year?
Consider your healthcare needs. Think about your current and potential upcoming healthcare needs. Do you feel satisfied with your network of providers? Are you expecting any procedures or surgeries in the coming year? Do you need medications on a regular basis? Are you happy with your current medications, or are there other options you’d like to try? Compare your needs to your current plan’s coverage, and consult with your doctor to get an expert opinion.
Ask for help. Medicare plans can be complicated, and this is an important decision. Give us a call, and one of our Medicare experts can help you understand all of the options available to you. Then together we will match you up with a plan or plans that best suit your healthcare needs and budget.