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Things happen and things change including your health and sometimes your health plan as well. Take advantage of Medicare Open Enrollment Period (OEP) to review your current coverage and make sure it is still what you need from your health insurance plan.
Open Enrollment Period is October 15 to December 7, 2012. So right now is your opportunity to choose the best coverage for your needs. The choices you make now will be effective for all of 2013. You cannot make any changes until next Open Enrollment Period a year from now, unless you qualify for an exception or have Original Medicare with a Medicare Supplement Plan.
Information Checklist for Comparing Medicare Plans
Our information checklist will help you gather the information you need to reference when reviewing your current plan and comparing other available plans.
- How is your general health?
- Has your health changed considerably in the past year?
- Ongoing conditions such as high blood pressure or diabetes?
- Vision or hearing problems?
- One-time health needs such as illness or injury?
- How often do you visit the doctor?
- Do you see any specialist?
- Do you live in a long-term care residence or skilled nursing facility (nursing home)?
- Do you have a planned surgery or procedure coming up?
- Review your summary of benefits you periodically get from Medicare or your Medicare Advantage plan, this lists the services you received and the costs.
- Prescriptions Drugs (all formularies are different and may affect which plan is the best plan for you)
Factors That Apply to Your Healthcare Plan Usage
Now that you have gathered the items on this checklist, please keep in mind the following factors as it applies to your health and usage of your plan.
- Monthly Premium, if any
- Deductibles
- Co-payments
- Coinsurance
- Max Out of Pocket (this is your maximum risk if your health dramatically changes during the year)
- Does the plan reimburse the Part B Deductible?
Once you have gathered this information, you are ready to start comparing plans. www.MedicareEcompare.com allows you to compare up to 3 plans side by side. So you will be able to make your decision based on plan details that are sometimes confusing and hard to find. Remember to enter your prescriptions drug information as the plans all have different formularies and this will have an impact on how each plan will work for you. If you need assistance call and we will happily guide you through the process: 1-800-568-2382.
This post was written by Jim Blazer, Executive V.P. of Bermel, Inc. Since joining Bermel, Inc. 18 years ago, Blazer has led the company in its steady expansion. He is recognized for managing one of two major US hospital networks for Medicare Select. Bermel, Inc’s Medicare Select Supplements significantly reduce the premium outlay for policyholders.
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