We would like to remind all of our senior clients that Medicare open enrollment started on October 15, and continues through December 5. That means it is time to reconsider your Medicare health plan selections, and whether your current plan is still the best choice for you. This includes Medicare Part D prescription drug coverage, which can be changed once each year in the fall.
Here is an excellent article in Kiplingers which explains the potential benefits of shopping for a new plan, and resources available to help you choose the best one:
http://www.kiplinger.com/article/retirement/T027-C000-S009-guide-to-medicare-open-enrollment-for-2018.html
Generally speaking, Medicare Advantage plans will often provide the least monthly out of pocket cost, sometimes no monthly cost at all, and may provide reimbursement for some out of pocket expenses that are not covered under traditional Medicare / Medigap policies. However, Medicare Advantage plans are "network based" - you need to use doctors who are in your plan's provider network. Traditional Medicare lets you go to any doctor who accepts Medicare, but has copays for doctor office visits and other benefit limitations, which drive most Medicare users to purchase supplemental "Medigap" policies for $150-250 per month. If your Medigap premiums are straining the budget, or if you don't have a Medigap policy and are getting hit with a lot of copays and deductibles from your providers, it may pay to consider a Medicare Advantage plan.
If all of this has you totally confused, give us a call. If we can't help, we know of resources who can help walk you through the process of deciding which plan is best for you.