4 Medicare Mistakes That Could Cost You

By Dr. Kendra Robison, Senior Medical Director of Primary Care with Optum in Colorado Springs ~

One of the best times to reevaluate your Medicare plan, make changes or sign up is during Medicare Annual Open Enrollment, October 15 – December 7. 

There are a lot of choices when it comes to Medicare. Here are four common mistakes that you don’t want to make – and the reasons why: 

  1. Don’t allow automatic plan renewal to make your choice for you.

Medicare Part D or Medicare Advantage plans renew every January 1, unless you decide to change it. Automatic renewal may make your life easy, but it might not be the best way to make your Medicare decisions. This is especially true if your health care needs have changed in the last year, if you want more benefits, or if your finances have changed. Plans also may change what they cover from year to year. 

  1. Don’t ignore your plan’s Annual Notice of Change.

This notice explains any changes in your plan benefits and costs for the upcoming year. The changes may affect your health care and your budget, so this notice can help you decide whether to keep your current plan or consider a new one.

  1. Don’t pick a plan because your spouse, relative or friend has it.

What works for one person may not fit with the needs of another – it’s a good idea to look at all your options, keeping your health care needs and budget at the forefront of your mind. Consider the cost, coverage/benefits, any other coverage you hold, prescription drugs, doctor and hospital choice, quality of care and travel coverage.

  1. Don’t assume that you don’t qualify for help with Medicare costs.

Several programs offer assistance with Medicare premiums and other costs. In some cases, Medicare Savings Programs may pay Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance) deductibles, coinsurance, and copayments if you meet certain conditions. Look into them, even if you think you might not be eligible. 

For more information, call 303-802-1784 to speak with a licensed insurance agent, or visit Optum.com/AEP24CO.

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