Emily Brandon’s recent article in US News & World Report entitled “6 Reasons to Choose a New Medicare Part D Plan” provides excellent insight into the real benefits of taking advantage of the Medicare Open Enrollment Period and the advantages of shopping around for the best coverage and costs to meet your personal healthcare needs.
The Open Enrollment Period is the time of year when individuals with Medicare are able to make important changes to their healthcare coverage. Open Enrollment runs from October 15th to December 7th, and provides seniors with the opportunity to adjust their coverage, add dental and prescription drug coverage, and lower their monthly premiums.
We believe every senior should take advantage of the Open Enrollment Period to compare your current Medicare healthcare coverage against other available plans. That is why we founded SeniorQuote – to provide you with a trusted resource to comparison shop a wide-range of insurance carriers to find the coverage plan that best fits your budget. Our licensed agents are available to answer all of your questions and help you make the right decision for your family.
While we might set them in a different order, we essentially agree with the top reasons highlighted in Ms. Brandon’s article. A summary of the 6 Top Reasons to Choose a New Medicare Part D Plan follows:
(1) Medication changes. Your medication needs could change throughout your retirement.
(2) Find lower premiums. The average premium is expected to increase by 5 percent in 2014.
(3) Seek lower copays and other cost sharing. Besides premiums, Medicare Part D beneficiaries face a variety of other out-of-pocket expenses, including deductibles, copayments, coinsurance and costs in the coverage gap.
(4) Reduce your deductible. Just over half of prescription drug plans will charge a deductible in 2014.
(5) Consider gap coverage. The Medicare Part D coverage gap begins once a retiree incurs $2,850 in prescription drug costs and ends after total drug costs hit $6,691 in 2014.
(6) Ease of using your benefits. Prescription drug plans are increasingly creating preferred pharmacy networks, and charging retirees higher prices if they don’t fill their prescriptions at the preferred pharmacies.
Enjoy the US News & World Report article. And enjoy the saving money with SeniorQuote during the Open Enrollment Period. Link: http://money.usnews.com/money/retirement/articles/2013/10/28/6-reasons-to-choose-a-new-medicare-part-d-plan?page=2