Medicare Open Enrollment is earlier this year. Medicare decreed that it will be Oct. 15 through December 7. The choice you make is effective January 1, 2012.
During this period, people in traditional Medicare can choose a Medicare Advantage Plan, and those in Medicare Advantage can stay in their current plans, choose a new plan, or switch to traditional Medicare. Those in traditional Medicare also can choose to add or change a Part D prescription drug plan during Open Enrollment.
Be sure to evaluate your choices carefully. Most members in Medicare Advantage plans did not select the plan that saves them the most on prescription drugs, according to a recent study by Harvard Medical School available at www.healthaffairs.org.
More plan choices seem to be a disadvantage, according to the study. Those with the most plan choices were more likely not to choose the most advantageous plan.
Most people need some help making the best choice, and there’s nothing wrong with asking for help. There are many sources available, both free and at a cost. We discussed them in detail in August, and that discussion is available on the members’ section of the web site at www.RetirementWatch.com.
RW October 2011
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