Understanding Medicare Open Enrollment

It is that time of year. No, not winter or the holiday season. It is open enrollment for Medicare. This year’s enrollment period is earlier than prior years and adults ages 65 and over have until Dec. 7 to make their selections.

During the open enrollment period, seniors should review all their options. While their choices for coverage may be similar to previous years, there are some rate changes that they will want to review.

There are basically two options for Medicare recipients: the original Medicare program or a Medicare Advantage Plan, most of which are HMOs run by private companies. It is important to keep in mind that if the original Medicare program is chosen, that person will likely need to buy supplemental insurance to pay their co-insurance and deductible costs. Medicare only pays for 20 percent of the doctor’s approved fee.

There is also the issue of prescription drug coverage. Many of the Medicare Advantage Plans include prescription coverage. However, those with the original Medicare program will have to decide whether they would like to keep or add drug coverage under Part D.

Here is more information on Florida's Medicare programs.  

If you are a senior looking to enroll or a caregiver helping someone enroll, you may want to seek assistance. Many states have programs or agencies that can help. For example, Florida’s Department of Elder Affairs has a program known as SHINE (Serving Health Insurance Needs of Elders).

For assistance from SHINE visit their website.