Medicare Open Enrollment season is just around the corner, so it’s imperative to do your research before finalizing your choices for Medicare coverage. The annual enrollment period (AEP) starts on October 15th and runs through December 7th. During this period, those eligible for Medicare are allowed to change their plans. Your new plan will go into effect on Jan. 1 of the upcoming year.
As you age, it’s important to understand that your needs can change from year to year. Just because a certain Medicare plan worked for you in the past doesn’t mean it will be the best decision for you in 2017.
Here are some keys to remember when researching:
- Evaluate your options. Don’t procrastinate and wait to select the benefits that you want. Instead of rushing through the process at the last moment, get any questions you need answered early on. You should be able to get assistance through your employer or a healthcare representative. Although you may be familiar with co-payments, deductibles and premiums, it’s vital to check if your doctor is in the plan’s care provider network and that your prescriptions are covered.
- You can benefit from online tools and health care apps. Several health plans have online applications that assist seniors in locating:
- A healthcare professional
- To see if doctors are in-network
- Compare treatment costs
- Review claims
- Find more information about their health plans
*A great source to use would be MediQuote. They will find the perfect Medicare plan for you, getting you quotes from all the top carriers.
- Learn about a Health Savings Account. Check to see if your employer offers a Health Savings Account (HSA). An HSA is a savings account used in conjunction with a high-deductible health insurance policy that allows users to save money tax-free against medical expenses.
- Don’t miss out on obtainable benefits. According to the Daily Journal, “Specialty benefits, such as dental, vision, accident or critical illness insurance plans, are often lower-cost options that can protect you and your family from head to toe. Research shows a connection between oral health and overall health, so adding a dental plan may help prevent larger medical problems. A vision plan may offer eye exams that can identify chronic conditions like diabetes, and offer reduced pricing on frames and lenses. Critical illness plans can provide important financial benefits for unexpected health situations.”
If you get a head start on researching your options now it will pay off for you in 2017.