When Should You Review Your Medicare Coverage?
Medicare coverage isn’t necessarily something you should choose once and never look at again. Plans, costs, provider networks, prescription drug coverage, and your own healthcare needs can change over time.
Taking a little time to review your coverage can help you understand whether it still fits your needs and what options may be available to you.
When Is a Good Time to Review My Medicare Coverage?
It’s a good idea to review your Medicare coverage at least once a year. One important time to do this is before or during the Medicare Annual Enrollment Period, which runs from October 15 through December 7 each year.
During this period, people with Medicare can make certain changes to their Medicare Advantage and prescription drug coverage for the following year.
Even if you’re happy with your current coverage, reviewing it can be worthwhile because plans can change from year to year.
What Should I Review?
When reviewing your Medicare coverage, look beyond just the monthly premium. Some important things to check include:
Your doctors and specialists — Make sure the providers you want to use are still available under your coverage.
Your prescriptions — Review how your medications are covered and what you may pay for them.
Your pharmacy — Pharmacy networks and preferred pharmacies can affect prescription costs.
Your costs — Look at premiums, deductibles, copayments, coinsurance, and other potential out-of-pocket expenses.
Your benefits — Review the benefits included with your plan and whether they are still useful to you.
Your healthcare needs — Think about whether anything has changed in your health or how you use healthcare since you last chose your coverage.
Other Times You May Want to Review Your Coverage
Your annual review isn’t the only time Medicare questions can come up. A change in your circumstances may also be a good reason to find out whether you have additional options.
For example, you may have questions if you move, lose other health coverage, qualify for certain assistance programs, enter or leave an institution, or experience another qualifying change.
Some situations may qualify you for a Special Enrollment Period. The rules and timing depend on your individual circumstances, so it’s important to check before making changes to your coverage.
Let’s Review It Together
Medicare plans and personal needs can change, and you don’t have to sort through everything by yourself.
I’m Staci Hartzog, a local licensed independent insurance agent serving Putnam County and surrounding communities. I can help you review your current Medicare coverage, look at your doctors and prescriptions, and understand the options that may be available to you.
Have Medicare questions or want to review your current coverage? Call Staci at 904-806-9736 or request an appointment through my website.
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