Medicare open enrollment underway through Dec. 7
Medicare open enrollment is now underway and runs through Dec. 7. It’s the time for people 65 and older to sign up for a Medicare plan, switch plans or renew current plans.
Outside of open enrollment months, people can sign up for Medicare, but with special enrollment rules.
A lot of people who have Medicare renew the same plan year after year. Plan comparison is annoying and time-consuming, but it can pay off in a big way.
Medicare recipients should have received an Annual Notice of Changes by Sept. 30. It’s important to read those notices carefully because many people can only switch plans during open enrollment periods.
Coverage changes for 2016 could include higher copays, co-insurance or out-of-pocket limits, dropped or added health care providers or changes in prescription drug reimbursements.
One notable change this year is a coverage rollback in prescription drug plans, called Medicare Part D.
Prescription drug reimbursements can change from year to year. Reimbursements for each drug are listed in the plan’s “formulary.” It’s important to check formularies on different plans to find one that covers drugs you take.
A drug covered one year might have a different reimbursement rate next year. Many insurance companies are lowering the reimbursement rates for some drugs to save money, so it’s important to check.
Here’s some tips for this Medicare enrollment season:
▪ Read your Annual Notice of Change carefully: It’s important to know coverage changes from year to year.
▪ Compare plans: Premiums, copays, co-insurance, out-of-pocket limits, covered health care providers and reimbursement rates can change each year, so the cheapest plan one year might not be the cheapest the next.
▪ Check drug reimbursement rates: Reimbursement rates for different drugs can change from year to year, so check drugs you take regularly and compare rates on different plans.
To check out different plans, visit Medicare.gov. To enroll, call 800-633-4227.
Reach Gabriella Dunn at 316-268-6400 or gdunn@wichitaeagle.com. Follow her on Twitter: @gabriella_dunn.
Medicare enrollment resources
▪ To review and compare plans, visit the Medicare Plan Finder: https://www.medicare.gov/find-a-plan/questions/home.aspx.
▪ Volunteers at the Senior Health Insurance Counseling for Kansas (SHICK) are available to answer questions about Medicare and insurance coverage for free at 800-860-5260.
▪ Independent consultants can compare plans and coverage for a price, but this service can sometimes be worthwhile if the money saved outweighs the consultation cost.
▪ To enroll in a new plan, call Medicare at 800-633-4227.
Sources: Medicare, Kansas Department of Aging and Disability Services, Medicare Rights Center
This story was originally published October 18, 2015 at 10:47 AM with the headline "Medicare open enrollment underway through Dec. 7."