{"id":9664,"date":"2022-11-01T07:08:00","date_gmt":"2022-11-01T11:08:00","guid":{"rendered":"https:\/\/kerryhannon.com\/?p=9664"},"modified":"2022-11-01T07:08:00","modified_gmt":"2022-11-01T11:08:00","slug":"dont-ignore-medicare-open-enrollment","status":"publish","type":"post","link":"https:\/\/kerryhannon.com\/?p=9664","title":{"rendered":"Don’t ignore Medicare open enrollment"},"content":{"rendered":"
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Medicare beneficiaries have a slim window to <\/span>review and improve their coverage options<\/ins><\/a>\u00a0and potentially save money for 2023 during open enrollment.<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n
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Until December 7, you can sign up, switch, or drop a plan, with the new coverage beginning January 1.<\/p>\n

But, if history is to be an indicator, 7 out of 10 of the 65 million Medicare beneficiaries probably won\u2019t bother with running a check-up on their coverage, according to Kaiser Family Foundation (KFF)\u00a0data<\/ins><\/a>, meaning some seniors may miss out on needed coverage due to changing health needs or significant cost savings.<\/p>\n

Read on Yahoo FInance<\/a><\/strong><\/p>\n

\u201cEverything about your coverage can change \u2014 premiums, deductibles, out-of-pocket maximums, provider networks, pharmacy networks \u2014 even though it’s the same plan name,\u201d Melinda Caughill, co-founder of the Medicare advice website\u00a065 Incorporated<\/ins><\/a>, told Yahoo Money. \u201cIt\u2019s scary, but people don\u2019t know that.\u201d<\/p>\n

Here\u2019s what to know.<\/p>\n

Who needs a change<\/strong><\/h2>\n

Generally speaking, if you\u2019re enrolled in traditional Medicare with a Medigap supplemental plan that fits your needs, you\u2019re probably off the hook, and there\u2019s no reason for you to re-evaluate or make changes, according to the counselors at the\u00a0Medicare Rights Center<\/ins><\/a>, a national non-profit consumer service organization.<\/p>\n

If you\u2019re already enrolled in a Medicare Advantage or Part D prescription drug plan, an annual checkup is essential these days. That\u2019s because health and drug plan costs and covered benefits constantly change from one year to the next or by region and state.<\/p>\n

For instance, although the base premium for a Medicare Part D prescription drug plan will be $32.74 per month in 2023, down from $33.37 in 2022, premiums for specific plans and regions vary from year to year and may be higher or lower than this amount, according to KFF\u00a0research<\/ins><\/a>. Even within a state, prescription drug plan premiums can vary.<\/p>\n

Remember that moving from a traditional plan to a Medicare Advantage plan might offer cheaper upfront premiums, but you may have fewer choices when it comes to healthcare providers and have a tougher time getting approvals.<\/p>\n

For instance, a random review of a sample of Medicare Advantage plans showed that Medicare Advantage Organizations (MAOs) \u201csometimes delayed or denied Medicare Advantage beneficiaries’ access to services, even though the requests met Medicare coverage rules. MAOs also denied payments to providers for some services that met both Medicare coverage rules and MAO billing rules. Although MAOs approve the vast majority of requests for services and payment, they issue millions of denials each year,\u201d according to a\u00a0report\u00a0<\/ins><\/a>released this spring from the Office of the Inspector General at the U.S. Department of Health and Human Services.<\/p>\n

The Center for Medicare Services (CMS) annual audits of MAOs \u201chave highlighted widespread and persistent problems related to inappropriate denials of services and payment,\u201d according to the study.<\/p>\n

Last, to reduce Medicare costs including deductibles and copayments, low-income seniors and adults with disabilities may qualify to receive financial assistance from the\u00a0Medicare Savings Programs<\/ins><\/a>\u00a0(MSPs). Income limits rise each year.<\/p>\n