Medicare’s open enrollment period is October 15th through December 7th, 2022. This is when participants of Medicare can change their plan. It’s also the time when they should have their prescription drug plan (PDP) evaluated to ensure they are getting the best options and services. Preparing for open enrollment is key. Here are a few tips:
- Check your current coverage
Knowing what you have on your existing coverage can help you compare what is being offered now. You may have had some health challenges the previous year and need additional coverage. This would be the perfect time to switch to a plan that offers the most advantages to you.
- Review the handbook
The government prepares an entire handbook called “Medicare and You” that explains all the details of Medicare, including what to do during enrollment, costs, and different coverage options. This handbook is useful because it is updated every year, and contains any changes in the policies and rules, and other items that could affect the coverage you have.
- Consider your current health status
Has everything been the same throughout the past year? Are you anticipating new needs, such as a scheduled surgery? You may have a new doctor for a certain condition, or your financial status could have significantly changed. These are all considerations when choosing the right plan. It’s always good to think about the future before you decide so you’ll have the best coverage during the plan year.
- Be thorough in your evaluation
Once you’ve reviewed the handbooks, checked your current coverage, and figured out what may be coming down the line health-wise, you’ll be in a better position to evaluate the new plans and see what they offer that you don’t have. If you don’t make any changes, you’ll continue your current plan if your premiums and other costs are being met.
It’s perfectly fine to take the time to shop around for the right Medicare plan. Even if you feel the current plan doesn’t need changing, taking a quick look at what’s out there may change your mind. You may even find a plan that saves you money.
Your Prescription Drug Plan (Medicare Part D) is also a significant part of your coverage. You should have your prescription drug plan evaluated, which is a free service we offer. Staying on top of everything puts you in a very good position, ensuring your healthcare needs are being met.
When you’re seeking information, speaking to a representative that can guide you to the right place and assist in helping you make the hard decisions is key. Remember, the enrollment period is October 15, 2022, through December 7, 2022. Start preparing now so you won’t feel rushed or in a time crunch when figuring out whether you need to change your plan.