Fall is approaching and if you are a Medicare consumer that means Annual Enrollment Period is just around the corner. Each year Medicare beneficiaries are allowed to select a NEW Medicare plan between October 15th and December 7th for the new year.
Local resident Kathy Coler is here to help. She is an independent Medicare Broker.
Coler states that, for the most part there are very few changes to the Federal Medicare plan and it should be a stable year for Part B premiums for most at $144.60 per month and for plans that have a Part B deductible it remains at $198 per year. New prescription drug pricing and new premiums on all plans will be available on October 1 which gives beneficiaries about 10 weeks to decide on a new plan for 2021. In addition, last year the Federal government provided a new Open Enrollment Period from January 1 through March 31 to allow beneficiaries enrolled in any Advantage plan to make a new selection as well if they didn’t like their original selection. This first quarter is sort of a trial period for Advantage plan members to use the plan, make sure all their doctors are in the network and it performs to their satisfaction. As an independent Medicare broker, at the very least I highly advise reviewing your current plan to be sure the premiums and benefits are still a good match for your health needs. If no change is warranted, you do not need to do anything during the Annual Enrollment Period and you will remain in the same plan with respective changes for 2021. There is never a cost to meet with an independent Medicare advisor, so please call with questions to make an educated decision on your Medicare plan for next year.
“As a local resident and independent Medicare Broker I have enjoyed doing the Medicare 101 classes through the HFL community programs,” Coler said. “The NEW learning environment lends itself to Virtual seminars to teach the same basic information pertaining to Medicare. To enroll in a community program go to: https://registration .hflcsd.org and search for Medicare. When it comes to Medicare, one main theme to remember is that One Size Does NOT Fit All! I often have clients who talk to a co-worker, neighbor or relative in another state who help them pick a plan. While well intentioned what may work for one person is surely not a right fit for everyone. There are many factors to take into consideration, such as travel plans, providers, medications, and hearing aids or dental needs. We live in an area with many options but it takes some effort to navigate them and select the right one for each person. I service many clients where one spouse selects an Advantage plan and perhaps the other needs a Medicare Supplement. With the Annual Enrollment Period approaching, October 15-December 7th, it is important to review the premium and benefits change of current plans so there are no surprises come January, even if no changes are made.”
For more information or questions, check out Coler’s ad in the Business and Professional Directory on page 13.