Medicare Open Enrollment kicks off Oct. 15 through Dec. 7. This is a great opportunity for retirees to shop for the right Medicare plan for their health and wellness needs as well as their budget.
While there are many available plans to choose from, Lisa Cummings, a licensed attorney at Cummings & Cummings Law, recommends retirees compare Medicare Advantage and Part D plans to better optimize their healthcare spending costs.
“Retirees should model the total cost of premiums, deductibles and drug tiers, and confirm their doctors are in the plan’s network instead of just focusing on the premium,” Cummings said. “This helps the retiree avoid the common mistake of choosing the lowest premium plan only to learn their doctor isn’t covered in the network or their drug or specialist costs are going to be even greater next year.”