Every year, Medicare provides its 66 million beneficiaries the opportunity to review their coverage and make any changes that they believe to be helpful. There are some things you should know about this period, especially if you live near Clearwater.
When is Medicare open enrollment near Clearwater?
The period during which Medicare enrollment is open begins October 15 and ends December 7. The changes you make during this time will go into effect the following year. Other important Medicare plan enrollment periods also exist (including the initial enrollment period or IEP, a special enrollment period, or SEP if you lose your employer-based health coverage).
What should you know about open enrollment?
There are two parts to the original Medicare plan: Part A covers hospital stays, and Part B covers outpatient services. You may also want a stand-alone Part D drug plan so that you have help paying for your prescription medications.
Prescription Medications
Part D plans vary, which is why you should take some time to review it each year during the open enrollment period. If you don’t have a Part D plan included in your healthcare coverage near Clearwater, now is also the time to add one.
Supplemental Insurance Near Clearwater
Not everything is paid for by original Medicare. For instance, with Part B, you’re responsible for 20% of the cost of doctor visits and lab work. Medigap insurance (a.k.a. Medicare supplemental insurance) helps pay for uncovered expenses. This is optional, and it also isn’t subject to the time when enrollment is open, so you can purchase or change it at any time.
What should you know about the special open enrollment periods for Medicare plans?
If you’re already enrolled in a plan, you’ll have some additional time to decide what you want to do. This special period during which Medicare is open for you to make changes is between January 1 and March 31. During this time, you can change your plans. If you decide to switch to original Medicare, you’ll also be eligible for a stand-alone Part D prescription drug plan.
Going to The Doctor or Hospital
During the open enrollment periods near Clearwater, you’ll want to pay careful attention if you have a Medicare Advantage (MA) plan. Most of these plans are organized around networks of medical providers. You’ll pay less when using in-network practitioners.
Prescription Drugs
Beneficiaries of the Medicare plan can get their prescription medications through either a stand-alone Part D prescription drug plan or as part of their MA plan.
What should you consider when switching between Medicare options?
There are some important considerations to keep in mind when thinking about switching between Medicare options during the open enrollment period. These include:
- Switching from original Medicare to a Medicare Advantage plan: You’ll want to make sure that your chosen providers are covered in the network. You’ll also be subject to more management of your care.
- Switching from Medicare Advantage back to original Medicare: While you can do this, you should know that you may not be able to get a supplemental (Medigap) plan. Even if you can get one, it may not be affordable.
- Switching between MA plans: Now is the time for you to look at your current Medicare Advantage plan and see if there’s a plan that better suits and is more affordable for you.
How can you get help picking a Medicare plan?
Before making a decision regarding your Medicare plan, it’s vital to consider all of the possibilities and weigh coverage and price. Talk to Gemini Insurance Company near Clearwater, FL, about the Medicare options that are available and may meet your medical demands today.
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