Once a year you have the opportunity to take a look at your insurance coverage and make necessary changes. Does it really matter? Yes, it makes big dollar differences in your coverage. Depending on if you have only original Medicare, a Medicare Advantage plan or a prescription drug plan, you need to evaluate if you are getting the coverage you need at a price that is best. If you have a Medicare supplement plan and stand-alone drug plan you need to consider any changes you had in the past year, take a look at the available plans and choose which is going to be best. All of the insurance companies introduce new plans and new rate structures each year; what worked best last year might not even be in the running this year. It is especially important that you help older members of your family with this process. It is not easy and can be totally confusing.
We can look at all the options: original Medicare, Medicare supplement plans, prescription drug plans and special needs plans.