By – Melanie Recchion
The Medicare open enrollment period is right around the corner! Are you ready? October 15th to December 7th is your annual opportunity to change your Medicare Advantage or Medicare Prescription Drug plan (Part-D). Before you decide you may want to ask yourself these questions:
- Does my current plan still work for me?
Sometime in the fall, your Advantage or Part D plan will send you an Annual Notice of Change (ANOC). This notice will outline any changes your plan is making for the upcoming year. You may want to read it carefully to ensure your current plan will continue to fit your needs for the upcoming year. Your plan will renew automatically Jan 1st if you do not make a change.
- Do lower premiums mean more savings?
The answer may surprise you. Lower premiums do not always mean lower costs to you. Focusing on premiums may seem like the easy answer but, deductibles and higher copays could lead to greater out-of-pocket costs. Take into consideration your health care needs, budget, and the plan as a whole, instead of focusing on the premium alone.
- Am I getting the right information?
Taking recommendations from a friend or loved one can help us to make many decisions. However, when it comes to Medicare Advantage and Part D plans, what works for some may not work for all. Calling a trusted, licensed AMAC agent can ensure you’ll get the most accurate information including formulary drugs, deductibles, copays and premiums. Let us help you in choosing the plan that best suits your needs.
Medicare Open Enrollment gives you the opportunity to review your current plan as well as explore new plan options. You may want to take advantage of this time and ask if your current plan is still right for you.