Time to Review Your Medicare Plan
Medicare open enrollment period begins Oct. 15
Medicare’s Annual Open Enrollment Period is coming soon: It begins Oct. 15 and ends Dec. 7. Be sure to add this to your fall checklist if you have a Medicare Part D plan or a Medicare Advantage Plan. Every year insurance companies can change their list of covered drugs and their pricing structure, known as the plan formulary. This means that even if you are taking the same medications, the amount you pay for your medications may change next year. The plans’ premiums, deductibles, and copays can also change each year.
All Medicare beneficiaries should review their current coverage during open enrollment. Find out what your plan’s costs and coverage will be next year and compare it with other options based on your prescription medications and other needs or preferences. You may decide you’re happy with your plan’s costs and coverage details for the coming year. In that case, you won’t need to do anything. Or you may find a plan that is better suited to your needs and your budget. Shopping around to find what’s best for you is always a good idea, but you don’t have to do it alone. Free, unbiased assistance with plan comparisons is available from Aging & Disability Resource Center benefit specialists, who will accept open enrollment appointments beginning in October. Stay tuned for appointment registration!