Monday, October 29, 2012

Medicare Open Enrollment 2012

What you need to know about Medicare open enrollment 2012. How to save money. Should you change plans or find a new one? Avoid rate increases. Get the help you need. Make good choices.

Choices for Medicare Open Enrollment 2012

Medicare consumers "ride out the price increases," Walters adds. "They don't do the math. They are worried that their doctors won't be covered under a new plan ... People bog down in indecision because they're scared they are going to make a mistake." While many things change about Medicare each year, Walters says, "the only thing that doesn't change under Medicare is that it continues to be complicated."

Medicare supplement plans don't have networks. You never have to worry about changing doctors with original Medicare and a Medigap plan.

During Medicare open enrollment, Many Medicare Advantage plans are handing out significant rate increases coupled with extreme increases in copay's and out of pocket expenses. Many Georgia Medigap plans will pass out rate increases in January, some may be 15% or more.

Some carriers have never raised rates more than 9%.

Lock in current low rates now and avoid the January rate increase.

Medicare Open Enrollment - Medicare Part D - Choose Wisely
Some existing Part D plans will have significant premium increases. Average Part D premiums for current plans will increase by 6 percent in 2013, according to an analysis of Centers for Medicare and Medicaid Services data by Avalere Health, a healthcare consulting company. "Some of the more popular plans from the past have higher premiums, so people would be well-advised to take a look at their options to see if they can save money by switching into a new plan,"

Medicare Part D is time consuming and confusing. Some agents are glad to assist current clients in finding the right plan for their needs and budget. This is a value added service for their existing clients. Often they are not compensated in any way for this assistance.

Many agents will only show you plans with carriers that have appointed them and pay for referrals. With more than 50 plans in some areas, why limit your choice to only plans where an agent will be paid?

Medicare Open Enrollment - Changes for 2013
There are new preventive services available next year to include:
■Alcohol misuse counseling
■Cardiovascular disease counseling
■Depression screening
■Obesity screening and counseling
■Sexually transmitted infections screening and counseling
Another important area for change in 2013 is if you reach the ‘donut hole’ in your Medicare Part D prescription drug plan, you only have to pay 47.5% for covered brand-name drugs and 79% of the costs for generic drugs until you reach the end of the coverage gap. Remember that out of pocket expenses like your annual deductible (if you have one) coinsurances, copayments and what you pay in the coverage gap will count toward getting you out of the coverage gap.

Consider changing to generics which will save money and possibly keep you out of the donut hole in 2013.
blog comments powered by Disqus