It’s that time of year again. No, the Great Pumpkin didn’t come, but Medicare Open Enrollment is upon us once again. Medicare Open Enrollment occurs annually from October 15 until December 7. However, the alphabet soup that is Medicare is sometimes difficult to navigate. That is why Benefits in Action is here to help. Our experienced Medicare navigators can make the open enrollment process easy for you. However, read this article first to learn the basics.
Medicare Open Enrollment is the time of year when individuals can make changes to their Medicare plans. During this period, you can join a new Medicare advantage plan or sign up for a Medicare prescription drug plan. You can also change advantage plans or prescription drug plans should you choose. You can also switch between Medicare Parts A and B and a Medicare advantage plan, and vice versa. However, you can’t sign up for Medicare for the first time unless you happen to be in your Initial Enrollment Period. Signing up for Medicare for the first time is a different process that occurs either when you turn 65 or between January 1 and March 31.
If you are still reading this article, you probably already have Medicare. You may be wondering why Open Enrollment is so important. Here’s the answer. Even if you already have Medicare, reviewing or changing your coverage during this open enrollment period is important, as Medicare plans change from year to year and your plan this year might not be the best plan for you next year. For example, your copays and deductibles in your current plan may have changed such that a different plan is a better fit for you. Your new prescription may not be covered by your current plan. There may be a better plan for your current prescriptions.
If you are wondering how to choose a plan that fits your needs, here are some tips. First, don’t just look at the plans’ premiums. Instead, look at the whole plan. For example, see whether your preferred physician is in or out of the plan’s network. You should also look at your medications before deciding on a plan, so you know whether the plan covers the medications you are taking. You should also look at the differences in co-pays between plans. A plan with lower premiums may have higher co-pays that negate the advantage of the lower premium.
And if you are struggling to decide on a plan that fits you, reach out to Benefits in Action. We are a State Health Insurance Assistance Program (SHIP). That means that our Medicare navigators are SHIP trained and know the ins and outs of Medicare. Not many organizations have SHIP trained staff and volunteers, and we consider their expertise a blessing. Our Medicare navigators are also able to provide unbiased advice. That’s right. They are not trying to sell you a plan. They just want what is best for you.
We strongly recommend that you take the time to review and compare Medicare plans
during Medicare Open Enrollment. You may be able to save a lot of money. And if you have questions, please do not hesitate to contact Benefits in Action at 720-221-8354 or via email at info@benefitsinaction.org. Our experienced Medicare Navigators can help you analyze, compare or, if needed, switch Medicare plans.
Submitted by: Eric Gonzalez, Manager of Financial Programs
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