Medicare’s annual Open Enrollment Period began on October 15, yet most recipients don’t take this opportunity to review their coverage options. Even if you’re happy with your plan, you may still want to analyze your options.
- Medicare plans can change from year to year.
- Monthly premiums may rise or fall.
- Doctors in Medicare Advantage may drop out of the plan’s network.
- Drug coverage may change.
Or, perhaps you’re:
- Wanting a plan with different services that it covers.
- Requiring access to specific hospitals, doctors, or prescriptions that aren’t covered under your current plan.
- Needing more convenience, higher quality, or a plan that will cover you while you’re traveling.
Whatever the case may be, making this decision is anything but simple. To help you through the process, I’ve made a flowchart available. It covers considerations that can influence your decision, such as changes in health care needs, costs of premiums and deductibles, and the effective dates of any changes.
You can also compare plans online by utilizing the Plan Finder Tool on the Medicare.gov website.
If you still have questions and need help navigating the Medicare landscape, you can schedule some time to talk to our team of financial advisors. Please feel free to book a complimentary consultation at the link below.