Medicare Open Enrollment (October 15 – December 7) is an especially opportune time to get wise about Medicare. Whether you’re 65 and about to enroll for the first time, you’re a current Medicare beneficiary and want to make smart decisions for 2017, or you want to help your parents make the best decisions for their Medicare coverage – now is the time to learn about your 2017 options. Although shopping for a Florida Medicare plan may not be as much fun as shopping for a new car, it is just as important. When considering a health plan, here are four tips to help choose the right plan for you:
1. Your health needs
Your health needs may change from year to year, which is why it is important to review your current plan to ensure it still services your specific needs. Or if you have a chronic condition, like diabetes, you’ll want a plan that covers your needs.
2. Your doctors and the plan’s network
Make sure you understand your plan’s network if you plan to see certain doctors or use certain medical facilities, like hospitals or labs.
3. Coverage for the drugs you take
It is very important to be sure that your plan’s formulary, or list of covered medicines, includes those you take regularly.
4. Premium, deductible, copayment and coinsurance
These are the out-of-pocket costs typically associated with a Medicare health plan. You should consider these when choosing a plan.Premium = the monthly amount you pay for the policyDeductible = the amount you must pay first, before your Medicare health plan starts to payCopayment = a preset, fixed amount you pay for each service (sometimes called a “copay”)Coinsurance = a percentage you pay for each service
If you need help comparing Florida Medicare plans, call us at (941) 405 – 3900.