2018 Medicare Coverage Changes You Should Know
Medicare isn’t easy to understand. With confusing coverage details, different parts and plan options, and annual changes, it can feel impossible to know what’s happening with Medicare.
Each year, you have just one brief window in which to make changes to your Medicare plan. Your Medicare plan will not stay the same in 2018. Coverage can decrease and prices can rise–and if you aren’t careful, you can wind up paying hundreds more each month. You could even lose coverage.
You need to know what options you have heading in to 2018.
What’s Happening to Medicare Parts A Through D?
Not all pieces, or parts, of Medicare are the same. Before you make any final decisions regarding your Medicare coverage for next year, it’s a smart idea to review the 4 parts of any plan.
Do you know which parts you’re signed up for? Do you need to add a backup coverage plan, such as Part C, to your plan? Are you covered for all prescription purchases under Part D?
In order to know, you need to compare these plans and their included coverage. Some of these plans are changing in 2018. You’ll want to do your research to learn what’s staying the same and what’s leaving you with gaps or a lack of coverage before it’s too late.
You Might Have a Medicare Gap
Medicare was designed to cover any and all expenses for seniors age 65 and older. But did you know that coverage gaps can happen thanks to the annual changes made to Medicare. Many enrolled seniors fall into a prescription coverage gaps thanks to Part D, which sets an annual limit on how many medications Medicare will pay for.
Other coverage gaps can appear if you hit your deductible early in the year. You could be left paying for surgery or other necessary outpatient procedures that cost thousands of dollars.
Make Sure You Have Supplemental Medicare Plans
Unfortunately for most seniors, Medicare doesn’t always cover all of the costs of regular doctor’s appointments, prescriptions, or even your basic healthcare needs.
So, in addition to Medicare Parts A, B, and D, you may need to add a Medicare Part C, or Medicare Advantage Plan. These Medicare supplemental plans are back-up coverage that must be purchased separately.
If you’ve heard about AARP Medicare plans or AARP Medicare insurance, that’s an avenue you can use to explore your coverage options. Comparing AARP Medicare insurance information can help you find a supplementary plan.
See Options Now Before Medicare Enrollment Ends
Don’t let the Medicare open enrollment period pass you by. It’s crucial to learn about the changes happening for 2018. If you don’t do your research and compare plans, pricing, and gap coverage options, you could wind up paying more every month.
Your one chance to make changes to your Medicare enrollment is right now. Don’t make an un-informed decision: search online and discover the latest options and plan changes regarding Medicare, Medicare Advantage Plans, Part D prescription drug plans, and more.
Like anything, it’s always a good idea to be aware of the latest research. We recommend comparing at least 3 or 4 options before making a final decision. Doing a search online is typically the quickest, most thorough way to discover all the pros and cons you need to keep in mind.