The Medicare Annual Enrollment Period (AEP) is underway—it began on 10/15/12 and runs through 12/07/12. It is important to understand that, in most cases, making changes to your Medicare Advantage plan can only be done during the AEP. Below is a list of important things to consider during the annual enrollment period.
Review your medications- Many plans change their drug coverage or increase rates every year. Don’t assume that your prescriptions will still be covered—make sure to check the plan carefully for coverage and prices.
Review the out-of-pocket maximums– The maximum out-of-pocket cost can change from year to year. Although the maximum cannot exceed $6,700 for 2013, a significant increase in the maximum—from $3,000 to $5,000, for example, is significant and should not be overlooked.
Take advantage of preventive care- Medicare offers some preventive screenings free and with no copays. For a list of which screenings are free, visit healthcare.gov. Since you are paying for these benefits there is no reason not to take advantage of them.
Consider mail-order pharmacy benefits- Closely review the mail-order pharmacy benefits of your plan, as you can save a considerable amount of money by using these benefits. In some cases you may even be eligible to receive generic drugs free.
Seek professional help- With so many options available, choosing a plan can feel overwhelming. It is always best to seek the guidance of a licensed, knowledgeable professional to help you navigate your options.
Benefit Packages has been helping individuals and groups find the right California Medicare options for decades. Their experienced, knowledgeable agents can assist you in determining which plan is best for you. Visit our website for a quote, or call us toll-free for assistance at 1-800-356-3615.