As the years go by, you may find that your healthcare needs have changed. That’s why Medicare offers an annual open enrollment period during which you can change your coverage. Before making a decision on a Medicare supplement plan, like cigna medicare supplement plan g, it’s important to do your research and check out reviews from other beneficiaries to ensure it’s the right plan for you. In this article, we’ll go over everything you need to know to make the most of Medicare’s open enrollment period and get the best plan for your needs.
What is Medicare Open Enrollment?
Medicare Open Enrollment is an annual period during which you can make changes to your Medicare coverage. It runs from October 15th to December 7th every year. During this period, you can:
- Change from Original Medicare to a Medicare Advantage plan
- Change from a Medicare Advantage plan back to Original Medicare
- Switch from one Medicare Advantage plan to another
- Change from one Medicare Part D prescription drug plan to another
- Enroll in a Medicare Part D prescription drug plan if you didn’t sign up when you were first eligible
Why is Medicare Open Enrollment Important?
Medicare Open Enrollment is important because it gives you the opportunity to review your current coverage and make changes if needed. Your health needs may have changed since you first enrolled in Medicare, and a different plan may be a better fit for you now. For example, you may have started taking new medications that aren’t covered by your current plan, or you may have moved and your current plan doesn’t have network providers in your new area.
How to Get the Best Plan During Medicare Open Enrollment
Getting the best plan during Medicare Open Enrollment requires a bit of research and comparison. Here are some steps you can take to ensure you get the plan that’s right for you:
Step 1: Review Your Current Plan
The first step in finding the best plan is to review your current plan. Look at what it covers, how much you pay for premiums and deductibles, and whether it meets your current health needs. Make note of any changes you’d like to see in your coverage.
Step 2: Consider Your Health Needs
Next, consider your current and future health needs. Are you planning any surgeries or treatments in the coming year? Are there any new medications you’ll need to take? Make a list of your health needs so you can compare plans that cover those needs.
Step 3: Compare Plans
Once you know what you’re looking for, it’s time to compare plans. You can use the Medicare Plan Finder tool on Medicare’s website to compare plans in your area. Make sure to compare premiums, deductibles, co-pays, and whether your medications are covered. You can also call the plans you’re interested in to get more information.
Step 4: Enroll in Your New Plan
Once you’ve found the plan that’s right for you, it’s time to enroll. You can do this online, over the phone, or by filling out a paper enrollment form. Make sure to enroll before the December 7th deadline to ensure your coverage starts on January 1st.
Other Things to Consider During Medicare Open Enrollment
In addition to changing your coverage, there are a few other things you can do during Medicare Open Enrollment:
Check Your Medicare Summary Notice
Your Medicare Summary Notice (MSN) is a document you receive every three months that shows all the services and supplies you’ve received and what Medicare paid for them. Review your MSN to make sure everything looks correct and to catch any potential fraud or errors.
Consider Medigap Insurance
Medigap insurance, also known as Medicare Supplement insurance, can help cover some of the out-of-pocket costs that Original Medicare doesn’t cover, such as deductibles and co-pays. If you’re considering switching from Original Medicare to a Medicare Advantage plan, you may want to consider.