Lisa Conway – FLORIDA TODAY
Q: What should I know about Medicare open enrollment?
A:Regular as clockwork, Medicare Open Enrollment runs from October 15 to December 7. It’s when 66 million senior beneficiaries can review and make changes to their Medicare plans — to continue getting the best out of the federal government’s health insurance program.
What’s Changed?
Start by looking at your current Medicare coverage — all of it. Whether it’s Original Medicare (Part A and Part B), a Medicare Advantage Plan (Part C), or a standalone Prescription Drug Plan (Part D), consider what’s worked well for you and what hasn’t. Example: have your prescription costs increased, or are your healthcare needs different?
Check Prescription Drug Coverage
Prescription drug coverage (Part D) can change from year to year, with modifications to premiums, copayments, and the list of covered medications. Are all your medications still covered?
Compare Medicare Advantage Plans
There are dozens of Medicare Advantage Plans in Central Florida! These provide additional benefits such as dental, vision and hearing coverage. Benefits, networks and costs vary widely. Compare plans based on your healthcare needs (not your neighbor or poker buddy), so that your preferred doctors and hospitals are in-network and that the plan covers your prescriptions.
Get out the Calculator
Remember to look beyond the monthly premium and consider the overall costs of your healthcare, including out-of-pocket expenses. If you have high medical costs, a plan with a higher premium but lower out-of-pocket costs might be more cost-effective in the long run.
Turning 65 Soon?
It’s (really, really) important to sign up for Medicare coverage during your Initial Enrollment Period. This lasts for seven months, starting three months before you turn 65, and ending three months after the month you turn 65. With some exceptions, you may have to pay an extra amount, called a late enrollment penalty. Importantly, these penalties are: 1) added to your monthly premium, 2) not a one-time late fee, 3) usually charged as a lifetime penalty. Some penalties go up the longer you wait. There are enrollment late penalties for Part A, Part B and Part D.
Get Help
Medicare can be a real alphabet soup of options, rules and penalties. You can visit medicare.gov for more information, or call Medicare’s help line at 800-633-4227.
One Senior Place in Viera and Altamonte Springs will host a number of free seminars, starting later this month and continuing through Medicare’s open enrollment period. Choose your date and RSVP online at www.OneSeniorPlace.com or call 321-751-6771 in Viera.
One Senior Place is a marketplace for resources and provider of information, advice, care and on-site services for seniors and their families. Questions for this column are answered by professionals in nursing, social work, care management and in-home care. Send questions to askOSP@OneSeniorPlace.com, call 321-751-6771 or visit One Senior Place, The Experts in Aging. Lisa Conway is a Registered Nurse, Certified Dementia Practitioner and a Certified Care Manager for Senior Partner Care Services, Viera. Ms. Conway hosts a monthly seminar, ‘Senior Health Friday with Nurse Lisa.’
