Are your loved ones on Medicare? Then you need to know that Medicare’s Annual Open Enrollment Period begins October 15th. This is the time for Alabama seniors, including your loved ones, to focus on whether any changes need to be made to their plans. Open enrollment can be a confusing time, but with your help your loved ones can make the right decisions. Are you concerned about whether your loved ones have the right health care coverage this year? We would like to share five tips you can use to be sure that you and your loved ones have the best information available when helping them make their Medicare plan decisions.
1.Know when Medicare Annual Open Enrollment Period begins. As stated in the opening paragraph, the Medicare Annual Open Enrollment Period always begins on October 15th. This is when you and your loved ones need to review any changes that may be happening to their plan in the new year.
2. Are there “extra” costs? You and your loved ones need to review what their extra costs may be for the new year. For example: these costs may range from out of pocket costs and out of network coverage to changing providers and new pharmacies. You and your loved ones will have a lot to review when it comes to what Medicare does and does not provide.
3. What are the health care needs of your loved ones? Never take the health of your loved ones for granted. Look at the Medicare plan for your loved ones, does it fit their needs for right now? Or could a different health care plan provide more of what they need?
4. Is the current plan of your loved ones changing? As Medicare beneficiaries, your loved ones should have received an “annual notice of change” from their Medicare plan no later than September. You need to take the time to read and review their Annual Notice of Change letter. Their letter will go into detail about their benefits and explain the changes coming in the new year.
5. You and your loved ones should learn more about what is available in their community. It would be advantageous to you and your loved ones to see what additional plans are in their area. You and your loved ones can look at The Medicare Plan Finder on the Medicare website. This is an online tool from the government to help you and your loved ones select and compare plans based on key factors, such as their zip code, their medications, and their diagnoses. Once you and your loved ones input this information, you and your loved ones can compare Medicare plans available in their area.
We encourage you to take the time you need to get the correct Medicare plan for you and your loved ones.
At the end of the day, estate planning is not just for you. Instead, it is for the ones you love most. If we can answer any questions for you on putting this estate planning in place, please do not hesitate to let us know. For more information, please reach out to our office and schedule a time to meet.