If Medicare Open Enrollment season seems overwhelming to you, you’re not alone. It’s no secret that Americans all over the country would rather let their benefits from the previous year roll over into this coming year. However, it may be wise to push past the frustrations and boredom during Medicare Open Enrollment 2019, and reevaluate what Medicare coverage is right for you.
Even if your health has stayed well-balanced through the last year, revisiting Medicare’s policies may help you choose a better plan for your current life stage.
When is Open Enrollment?
The enrollment window is October 15th through December 7th, and changes made to your plan take effect on January 1st, 2020. What is open enrollment, you may ask? Open enrollment is the season where Medicare providers allow you to make changes to which policy you are enrolled in.
What Questions Should I Ask About Medicare Open Enrollment 2020?
One of the biggest mistakes medicare beneficiaries make is forgetting to review their policy during this window, and then being shocked by differing fees or a possible switch in providers. For example, if you are enrolled in Medicare Part B, the base amount for 2020 may increase to $144.30 from its amount of $135.50 this year. If you don’t take the time to review those changes, you may find yourself strapped with medicare fees you can’t afford, or missing out on a better plan which actually attends to your current medical needs.
It may be the case that in this season’s open enrollment you find yourself needing assistance with primarily paying for medications. If that is the case, it may be wise for you to switch to a Medicare Part D plan. It would be wise to understand that, when enrolling in Medicare Part D, this plan does not cover every prescription, but often has alternative drug plans for you to consider which allow you to take advantage of its coverage.
Do I have other Options?
Depending on where life takes you, Medicare Supplemental Insurance –or “Medigap”— may pique your interest. This is the only Medicare plan that covers any medical care you may encounter out of the country. The only detail many beneficiaries of Part D don’t initially realize is, in order to partake in Part D and its benefits, you must also have Part A and Part B to qualify.
The Medicare Open Enrollment season is still accessible for 2020. Contact your local Kosciusko insurance agent, Michael Suhany, to get your questions answered before time runs out.