Medicare Open Enrollment runs from October 15 through December 7 and is the perfect opportunity to review your Medicare plan coverage for 2018. AARP is encouraging everyone with Medicare coverage to compare their health and prescription drug plan options during the seven weeks of Medicare Open Enrollment.
“Medicare Open Enrollment is your once-a-year opportunity to compare plans to find one that best meets your needs at a price that’s right for you,” said Lina Walker, PhD, Vice President in AARP Public Policy Institute. “Medicare health and prescription drug cost-sharing can vary widely between plans for the same drug or service, so it’s smart to look at your options each year and switch if necessary.”
Medicare plans often change their cost-sharing and coverage benefits every year. Insurers are required to notify all their enrollees of any plan changes for the coming year before the end of September by sending them an Annual Notice of Change. AARP strongly recommends that people read these notices carefully, compare their current plan with other available plans, and change to a different plan during open enrollment if it better meets their current needs.
“Out-of-pocket costs for prescription medications are going up for many because of rising drug prices,” said Jane Sung, Senior Strategic Policy Advisor in AARP Public Policy Institute. “Medicare plans change their formularies each year and some drugs get moved to higher-cost tiers, which mean increased costs. It’s worth the effort to compare plans each year.”
Things to Know About Medicare Open Enrollment
Changes You Can Make
Changes you can make during open enrollment:
Consider the “Four C’s”
Consider the “Four C’s” when reviewing Medicare plan options:
Help Is Available
Medicare is complicated and can be confusing but there is free help available in choosing the best Medicare plans during Medicare Open Enrollment:
This story is provided by AARP New Hampshire. Visit the AARP New Hampshire page for more news, events, and programs affecting retirement, health care, and more.
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