Medicare Open Enrollment From October 15 To December 7 : Check Your Options!

55+ lady smiling touching caregivers hand - Monterey Home Personal Care

Medicare Open Enrollment arrives, with their Annual Election Period (AEP) running from October 15 to December 7.  Those who are in a standalone Part D drug plan should check and make sure that they have the best coverage possible for the prescription medication that they are on.  Coverage and plans change every year so getting the right plan could save you hundreds or even thousands of dollars per year.  Similarly, if you are looking at a Medicare Advantage Plan should look at your likely health needs, including hospitals, doctors, durable equipment, as well as prescription costs.  Alliance on Aging has a number of free presentations on this topic.  Click here for the dates and locations.

Monterey, CA Many Seniors Overwhelmed By Medicare Renewal Choices

It’s open enrollment time until December 7, a time of year when seniors can swap out Medicare Advantage plans.  However, according to the New York Times, many seniors are overwhelmed by the number of choices and do nothing.  According to the Kaiser Family Foundation, seniors will be able to choose from 57 different prescription or Advantage plans that include drug coverage.  A new survey found that 57% of seniors didn’t review or compare their coverage, with 46% saying they never or rarely visited their plans.  Two thirds of beneficiaries 85 or older don’t review their coverage annually.

https://www.nytimes.com/2020/11/13/business/medicare-advantage-retirement.html