28 THE QUEENS COURIER • HEALTH • NOVEMBER 19, 2020 FOR BREAKING NEWS VISIT WWW.QNS.COM
health
Expert tips to save money during
Medicare open enrollment
For most people enrolled in
Medicare, the annual open enrollment
period from Oct. 15 through
Dec. 7 is the only time you can make
changes to your existing Medicare
coverage. Whether you’re satisfied or
dissatisfied with your coverage, this
is the time to explore your options
as there may be a plan better suited
to your health care needs that
could save you money in the upcoming
year.
During Medicare open enrollment,
Medicare beneficiaries can:
• Switch Part D prescription drug
plans
• Switch Medicare Advantage plans,
which offer health (and often drug)
coverage through private insurers
• Switch from Original Medicare,
administered by the federal government,
to Medicare Advantage
• Switch from Medicare Advantage
back to Original Medicare
As you begin to research your
options, consider these tips for navigating
Medicare open enrollment
from Dan Klein, president and CEO
of the Patient Access Network (PAN)
Foundation, an independent charitable
organization dedicated to helping
people afford out-of-pocket health
care costs. Keep in mind, all changes
made to coverage during open enrollment
take effect on Jan. 1, 2021.
Do your homework and
research changes
Changes to your health status, prescription
drugs, budget, or doctors or other
health care providers may mean that your
current plan is no longer the most costeff
ective choice for you. Insurance companies
can also make annual changes
in your Part D prescription drug plan
or Medicare Advantage plan that might
aff ect the drugs covered, provider networks
and your out-of-pocket costs. Visit
Medicare.gov to understand the benefi ts
and costs of each plan so you can fi nd the
coverage that works best for your current
needs. Furthermore, consider going over
your plan with an expert; the State Health
Insurance Assistance Program off ers free
(government-funded) one-on-one consultations.
Check that your doctors and
providers are in-network
It’s smart to check that your preferred
doctors, hospitals and pharmacies are in
the plan’s provider network, especially
before selecting a Medicare Advantage
plan. If you visit a doctor, hospital or
pharmacy that is outside of the network,
you will likely have to pay more. If your
insurance company has changed your
plan’s provider network for next year,
you may want to use open enrollment
to switch to a plan that will include your
current doctors, hospitals and pharmacies
in-network to lower your medical costs.
Additionally, check telehealth coverage so
you can meet your doctors over the phone
or on the computer if appropriate. Note:
With Original Medicare, you can go to
any doctor, health care provider, hospital
or facility that accepts Medicare patients.
Make sure your 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 it’s convenient
for you to access your drugs through the
plan’s network of pharmacies. Switching
prescription drug coverage, or even adding
it for the fi rst time, can help make the
critical medical treatments you need less
expensive.
Assess if your plan is still a
good fi t for your budget
Annually, there may be changes to your
Medicare plan that aff ect your out-ofpocket
costs. Th ese are your expenses
for medical care that aren’t reimbursed
by insurance. 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 coinsurance. Also, if you are
enrolled in Original Medicare and do not
already have supplemental coverage, now
may be a good time to consider purchasing
a Medigap plan.
Determine how to pay
out-of-pocket costs
With rising deductibles, premiums, copays
and coinsurance, the inability to pay
for out-of-pocket costs is a growing problem
for people with Medicare. Th ere may
be assistance available to you if you cannot
aff ord the out-of-pocket costs for your
prescription medications.
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 assistance program
that provides people with fi nancial 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.
Other helpful online resources are available
at:
• Medicare.gov
• Benefi tsCheckup.org
• MedicareInteractive.org
Don’t delay; act now. By using the open
enrollment period to evaluate your existing
coverage and learn about all your
options, you may be able to save signifi -
cantly on your health care costs next year.
— Courtesy of BPT
/PANFoundation.org
/Medicare.gov
/Medicare.gov
/WWW.QNS.COM
/tsCheckup.org
/MedicareInteractive.org
