So, you’re approaching the age of 65, or maybe you just hit that milestone - it's crucial to understand all the options available for your Medicare coverage. Things like prescription prices, premiums, and other rules can change every year, so doing your homework early on is key. Remember that the Annual Election Period (AEP) for Medicare begins on October 15 and ends on December 7. This is the window where you can tweak your Medicare coverage by switching from Original Medicare to a Medicare Advantage (MA) plan, switching between different MA plans, or changing from one Medicare Part D plan to another. And hey, if you're content with your current setup, you can stick with it too.
1. Compare Plans
Not all Medicare plans are created equal. Consider what matters most to you:
· Are you interested in extra perks beyond the basics, like dental, vision, and hearing coverage, transportation perks, or even a fitness benefit?
· Do you prefer face-to-face customer service for any issues that may crop up?
· Would you rather opt for a Medicare plan that’s plugged into local providers?
· How much are you willing to shell out for monthly premiums?
· Do you need the support of health coaches or care managers for chronic conditions?
These are questions you should definitely discuss with the person helping you enroll in a Medicare plan.
2. Reputation Matters
Before zeroing in on a plan, hop online and check out what others are saying about the options you’re eyeing. Reviews and feedback from folks in a similar boat as you can be a great guiding light.
3. Pay Close Attention to Your Medications
Keep a close eye on your medications. It's crucial to check which prescriptions you need, whether they're covered by the plan’s drug list (formulary), which pharmacies carry them, and what your out-of-pocket costs will be. Also, remember that Original Medicare doesn’t cover prescription drugs, so you’ll either need to sign up for a separate Part D plan or pick a Medicare Advantage plan with Part D coverage (MAPD).
4. Call Your Doctor
Your primary care physician (PCP) is often your first stop for health issues. You trust and value their care, so reach out to their office to confirm if they’re within your chosen Medicare plan’s network. Making sure you can stick with your favorite doctor can help streamline the decision-making process.
5. In Case of an Emergency
Emergency room visits and hospital stays can have a substantial effect on your finances. Ensure you're well-versed with the costs involved in emergency scenarios under the Medicare plans you’re considering. In case of serious illness and a pileup of medical bills, understand the maximum amount you might have to shell out. Knowing you have some financial protections in place is crucial, especially since Original Medicare doesn’t cap your out-of-pocket expenses.
Your health is your most precious asset, so as you gear up to enroll in Medicare or reassess your current options, arming yourself with early research is key to making an informed decision. If you have any queries, the MO Senior Advisors team is just a phone call away for Medicare solutions near me.
You can learn more here to connect with a Medicare insurance consultant in St. Louis, MO who can assist you.
Comments