Should I Change My Medicare Coverage During Open Enrollment?
Many of us currently rely on Medicare plans for our health care coverage. We may have enrolled in Original Medicare or Medicare Advantage, and likely have prescription drug coverage as well. For current beneficiaries of all of these plans (Medicare A, B, C, and D), October 15 marks the beginning of the Open Enrollment Period, during which changes in coverage may be made.
This flowchart helps you guide you through a series of considerations when evaluating and comparing your Medicare options. It covers:
Changes in health care needs
Costs of premiums, deductibles, etc.
Access to specific providers, services, and prescription drugs
Out-of-state concerns
Effective dates of any changes
Robert J. Pyle, CFP®, CFA, AEP® founded Diversified Asset Management, Inc., in 1996 to provide personalized, comprehensive wealth management services to successful individuals, families, single women, and business owners. His specialty is addressing the complex financial needs of self-employed professionals, corporate executives, and small-business owners. Our disclosure can be found here. The views, opinion, information, and content provided here are solely those of the respective authors, and may not represent the views or opinions of Diversified Asset Management, Inc. Diversified Asset Management, Inc. cannot guarantee the accuracy or currency of any such third party information or content, and does not undertake to verify or update such information or content. Any such information or other content should not be construed as investment, legal, accounting, or tax advice.