Choosing a Medicare plan is an important, but difficult decision. This choice could determine your health for years to come and save (or cost) you hundreds of dollars in out-of-pocket costs. However, during the Medicare Open Enrollment Period (OEP)/Annual Election Period (AEP) October 15 through December 7, you can reevaluate your Medicare Advantage (MA/Part C) and/or Part D coverage to make sure you’re enrolled in the plan that fits your needs best.
Using the 4Cs of Medicare: Coverage, Cost, Convenience, and Customer Service, you can assess the quality of your current plan and if needed, find a new one that better fits your needs. Before you begin comparing Medicare plans, you should start by assessing your health needs. Make a list of how many doctors you have, how often you have appointments, and your prescription drug needs. Then, you can begin assessing your coverage options.
When deciding on the type of coverage you need you should also think about how accessible your physicians are. With original Medicare, you can choose to see any physician who accepts Medicare. MA plans are more restricted with the “in-network” provider to avoid paying higher medical fees. Before enrolling in a Medicare Part D plan, confirm if your local pharmacy is included in their network. Typically, these pharmacies will reduce your out-of-pocket cost for prescription drugs.
Last, you should consider the quality of customer service you received with your current plan when thinking about switching.
Use this Medicare questionnaire at https://www.mymedicarematters.org/take-an-assessment/?SID to help you compare your options. You can talk to a free licensed benefits advisor to discuss Medicare plans such as Benefits In Action at 720-221-8354.
Remember the Medicare Enrollment Period is October 15 to December 7 every year, so research your options and get expert advice before you make a final decision. Article courtesy of National Council on Aging.