Open Enrollment Is Here: Avoid These 5 Medicare Mistakes!

medicare open enrollment period 2021, medicare open enrollment health insurance, medicare open enrollment 2020, medicare part D
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The Medicare open enrollment period (October 15 through December 7) is your chance to make much-needed changes to your health insurance coverage. During the current pandemic, it’s even more important to get the health insurance that best suits you.

During Medicare open enrollment (also called the annual election period), you can switch Part D plans, purchase a new Part D plan, choose a new Medicare Advantage plan, go from Medicare Advantage to Original Medicare, or switch from original Medicare to Medicare Advantage. 

Take advantage of this window to make any changes needed — you will save money and protect your retirement savings. When making a change, focus on total out-of-pocket costs, not simply premiums. 

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5 Top Mistakes to Avoid During Medicare Open Enrollment

  1. Not Looking Into Your Part D Options. Medicare Part D is the branch of Medicare that covers prescription drugs. Policies, copays, and drugs covered under your plan can change each year. That’s why it’s essential to check Part D plans to see if there is one that could fit your prescriptions better. 
  2. Ignoring Mail from Your Plan. Each fall, your plan will send you an Annual Notice of Change. In the first few pages, the plan should make clear any changes for 2022 that will affect your coverage. If there are changes to your covered drugs, doctors in your network, or out-of-pocket costs, it’s time to make a change during the open enrollment window, from October 15 to December 7.
  3. Not Getting your Own Medicare Part D Coverage. You might think it’s easier to get the same Part D prescription drug coverage as your spouse, when in fact you most likely have very different prescription drug needs. You’ll save more money by choosing a plan that covers your medical needs.
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  4. Believing that Original Medicare Has an Expenses Cap. In fact, original Medicare does not have a cap on out-of-pocket expenses. Copays can add up if you have many medical needs in a year. Medicare Advantage plans, on the other hand, have an annual cap that is around $6,700 per year. While it’s impossible to predict what medical expenses will arrive next year, keep this in mind when making your coverage plans. 
  5. Ignoring Medicare Open Enrollment Altogether! If you do nothing during this period, there could be surprise expenses and changes that come about next year for which you weren’t prepared. With a little research, it’s simple to find a better plan for your healthcare needs. Make sure your Medicare plan covers unexpected expenses, the medicines you take, and the doctors you see. 

Don’t be blindsided with higher copays and unforeseen expenses in 2022. Take a look at your coverage and compare the top plans today.

Get Medicare Help Today

Are you looking for answers to Medicare questions? Is your current coverage not enough? Call Medicare World today and get a free Medicare plan consultation. Call us now at (833) 347-1699.

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