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5 Challenges To Consider With Upcoming Medicare Open Enrollment

By: Steve Vernon

Are you ready for Medicare’s Open Enrollment? It’s coming soon, running from October 15 through December 7. If you’re age 65 or older and are eligible for Medicare, you have a golden opportunity to choose wisely regarding your coverage or correct any previous mistakes you might have made regarding your Medicare elections. You also have a chance to upgrade your coverage for 2020 and potentially save lots of money.

If you’re Medicare-eligible, your mailbox will most likely be filled in the upcoming weeks with solicitations for policies to supplement your Medicare coverage. As you’re going through this mail, keep in mind the following situations that might help you avoid or correct a mistake or upgrade your coverage during Medicare Open Enrollment.

Buy coverage to supplement Medicare

If you don’t think you need a medical insurance policy to supplement Medicare, you’re making a big mistake! Medicare has significant deductibles and copayments, and it doesn’t cover services commonly covered by many medical insurance plans.

You can supplement Medicare with a Medicare Supplement Plan (aka Medigap plan), which pays for Original Medicare’s deductibles and copayments. Or, you can select a Medicare Advantage Plan, which delivers integrated health care in a managed care environment.