During this time, you can change your Medicare plan coverage, and your changes will take effect on January 1, 2025. Here are some things to consider before open enrollment:
Review your current plan. Look at your costs, health needs, and any changes to your plan for 2024. If you have a Medicare Advantage or Part D plan, you should receive an Annual Notice of Change by September 30. You can also check for notices about plans terminating coverage, which should be sent by October 2.
Compare your options. Compare plans side-by-side, looking at coverage, costs, and quality ratings. When shopping for plans, you can consider things like:
Out-of-pocket costs: This includes premiums, deductibles, copayments, and other payments not covered by Medicare.
Prescription drug coverage: Consider eligibility requirements, medication coverage and costs, and whether the plan offers generic or brand name drugs.
Healthcare needs: Think about any upcoming surgeries or doctor appointments you may have in the coming year.
Travel plans: If you plan to travel outside the country, you may want to consider a supplemental insurance plan.
Transportation: If you don’t drive, consider a plan that offers rides to and from doctor offices.
Vision/Dental: If you are considering dental work or need reading glasses, consider yearly allowances for these services.
If you need assistance in evaluating your current plan, please reach out to me for a free consultation as I’m here to help you navigate and find the most appropriate plan to fit your needs.
