October 8th, 2019
Medicare's Open Enrollment Period, during
which you can freely enroll in or switch plans, runs from October 15 to
December 7. Don't let this period slip by without shopping around to see
whether your current choices are the best ones for you.
During this period you may enroll in a Medicare Part D (prescription drug) plan or, if you
currently have a plan, you may change plans. In addition, during the seven-week
period you can return to traditional Medicare (Parts A and B)
from a Medicare Advantage (Part C, managed care) plan, enroll in
a Medicare Advantage plan, or change Advantage plans. Beneficiaries can go
to www.medicare.gov or
call 1-800-MEDICARE (1-800-633-4227) to make changes in their Medicare
prescription drug and health plan coverage.
According to the New York Times, few Medicare beneficiaries take advantage
of open enrollment, but of those that do, nearly half cut their premiums by at
least 5 percent. Even beneficiaries who have been satisfied with their plans in
2019 should review their choices for 2020, as both premiums and plan coverage
can fluctuate from year to year. Are the doctors you use still part of your
Medicare Advantage plan’s provider network? Have any of the prescriptions you
take been dropped from your prescription plan’s list of covered drugs (the
“formulary”)? Could you save money with the same coverage by switching to a
different plan?
For answers to questions like these, carefully
look over the plan's "Annual Notice of Change" letter to you.
Prescription drug plans can change their premiums, deductibles, the list of
drugs they cover, and their plan rules for covered drugs, exceptions, and
appeals. Medicare Advantage plans can change their benefit packages, as well as
their provider networks. For information about entering and leaving Medicare
Advantage plans, click here.
Remember that fraud perpetrators will
inevitably use the Open Enrollment Period to try to gain access to individuals'
personal financial information. Medicare beneficiaries should never give their
personal information out to anyone making unsolicited phone calls selling
Medicare-related products or services or showing up on their doorstep
uninvited. If you think you've been a victim of fraud or identity theft,
contact Medicare. For more information about Medicare fraud, click here.
Here are more resources for navigating the
Open Enrollment Period:
·
Medicare Plan Finder,
which helps you find a plan to match your needs: www.medicare.gov/find-a-plan
·
Medicare coverage
options: https://www.medicare.gov/medicarecoverageoptions/
·
The 2020 Medicare
& You handbook, which all Medicare beneficiaries should have received. The
handbook can also be downloaded online at: medicare.gov/forms-help-resources/medicare-you-handbook/download-medicare-you-in-different-formats
·
The Medicare Rights
Center: www.medicareinteractive.org
·
Your State Health
Insurance Assistance Program, which offers independent counseling: https://www.shiptacenter.org
No comments:
Post a Comment