42 LONGISLANDPRESS.COM • NOVEMBER 2018
5 TIPS FOR NAVIGATING MEDICARE OPEN ENROLLMENT
Medicare Open Enrollment is in
full swing. For most people enrolled
in Medicare, the annual Open Enrollment
period (Oct. 15 through
Dec. 7) is the only opportunity to
make changes to your existing
Medicare coverage.
Even if you are happy with your
Medicare coverage, you should
take the time to explore your options.
There may be a plan that is
better suited to your health and
financial needs that could save
you hundreds of dollars in the
upcoming year.
Dan Klein, president and chief executive
officer of the Patient Access
Network (PAN) Foundation, an independent
charitable organization
dedicated to helping people afford
out-of-pocket costs for prescribed
medications, offers the following
tips for navigating Medicare Open
Enrollment.
1. DO YOUR HOMEWORK
Take the time to shop around and
understand the benefits and costs
of each plan so that you can find the
coverage that works best for you.
Changes to your health status, doctors,
healthcare providers, prescription
drugs, or budget may mean that
your current plan is no longer the
most cost-effective choice.
2. CHECK WHO’S INNETWORK
Before selecting a plan, it’s smart
to check that your preferred doctors,
hospitals and pharmacies are
in the plan’s provider network. If
you visit a doctor, hospital or pharmacy
that is outside of the network,
you will likely have to pay more.
3. ENSURE MEDICATIONS
ARE COVERED
Medicare Part D helps cover the cost
of prescription drugs. Many Medicare
Advantage plans provide prescription
drug coverage as well. It’s important
to ensure that your plan covers the
medications you need and that the
plan’s network of pharmacies makes it
convenient for you to access your drugs.
4. BUDGET THE PLAN
There may be changes to Medicare
Advantage and Medicare Part D plans
that affect your out-of-pocket costs.
When selecting a plan, you should
consider what you will be responsible
for paying under the plan, including
the deductible, out-of-pocket limit,
co-pays and co-insurance.
5. FACTOR IN OUT-OFPOCKET
COSTS
If you have limited income and resources,
you may qualify for a federal
Medicare Low Income Subsidy (LIS), also
known as Extra Help, to help pay for
your prescription drug costs. You may
also be eligible for a patient co-payment
assistance program like PAN that provides
people with financial assistance
to cover out-of-pocket costs for their
medical treatments. You can learn more
about PAN and patient assistance charities
by visiting PANFoundation.org.
-BPT
PRESS HEALTH : MEDICARE GUIDE
Before enrolling in Medicare, take stock of your needs.
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