How to Choose a Medicare Plan During Open Enrollment
Choosing a Medicare plan is an important, but difficult decision. What you choose will influence how your health care needs are met and your out of pocket costs. During the annual Open Enrollment Period from October 15 through December 7, you can re-evaluate your current Medicare Plan and decide if you need to make changes for 2019. But with so many options it’s hard to figure out:
- If your current plan is best for you, and
- How to choose a better plan to fit your needs
Before you begin comparing Medicare plans, you should start by assessing your health needs. Make a list of how many doctors you have, how often you have appointments, and your prescription drug needs. Then, you can begin assessing your coverage options. If you decide switch Medicare Plans and/or Part D plans there are few things you should consider about coverage:
- Has your health status changed within the last year?
- Are the services you need covered under your current plan (treatments, prescriptions, vision coverage, etc.)? Are there other health-related services that you would like covered? Examples might include alternative treatments, personal health devices, transportation or meal assistance?
- Does your current plan or the plans you’re considering cover all the drugs you think you will need in 2019?
- How do the plans rank under the star quality rating system? Are there any 5-star plans?
When you first enrolled in Medicare, you may have picked a plan based on the recommendation of a friend or just chose a fairly inexpensive plan since the coverage difference between each option seemed nominal. Now as a seasoned Medicare beneficiary there are a few cost considerations you should re-evaluate.
- Are your financial circumstances the same?
- What is the total projected annual and monthly cost with the plan you have vs the plan you’re considering? Have these costs gone up for 2019?
- Was your out-of-pocket cost more expensive than you had planned? Are you visiting the doctor as much as you had anticipated? Or perhaps more frequently than expected, causing more copays and deductibles than you had anticipated? You may want to switch to a more affordable option.
- Did you enter the Part D Coverage Gap (“donut hole”) in 2018?
When deciding on the type of coverage you need you should also think about how accessible your physicians need to be. With Original Medicare, you can choose to see any physician who accepts Medicare. This means that you can access major medical centers nationwide. On the other hand, MA plans are more restricted in terms of the provider networks (doctors, hospitals, or pharmacies) they work with, which means you need to see doctors or visit hospitals that are “in-network” with your MA plan to avoid paying higher medical fees.
Before enrolling in a Medicare Part D plan confirm if your local pharmacy is included in their network. Typically these pharmacies will reduce your out-of-pocket cost for prescription drugs. Here are a few things you should consider before choosing a plan:
- Do you plan on going a few long trips this year? All plans cover emergency hospital coverage, but if you need routine access to a physician while on vacation you may want to consider a plan that has a flexible network. Will you be able to get your prescriptions easily while away from home?
- Do you have a preferred pharmacy and is it included in the plans you’re considering? Do the costs of your medications change under the different plans based on that pharmacy?
- If you prefer to get your prescription in the mail, do the plans offer mail order delivery? Is the price higher or lower than picking it up at a “brick & mortar” pharmacy?
Last, but certainly not least, you should consider the quality of customer service you received with your current plan when thinking about switching.
- Were you satisfied with the quality of care you desired with your current plan?
- How responsive was your plan with questions or problems you may have had?
- How did your plan help you manage your health care needs (access to primary care, specialist, and prescriptions)?
There are a lot of consideration when choosing a Medicare plan, but using the 4Cs helps you focus on the aspects that are most important. The good news is that you don’t have to search for Medicare plans on your own, you can contact your local UF/IFAS Nassau County Extension Service to schedule an unbiased, confidential appointment (904)530-6359. Appointments can be scheduled in Fernandina Beach, Yulee, and Callahan
Remember that the Medicare Open Enrollment is October 15th – December 7th every year, so research your options and get expert advice before you make a final decision
“Extension programs are open to all persons without regard to race, color, sex, age, disability, religion, or national origin.”