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Claudia Mitchell Moraine
A lot of people stick to the place because of the huge selection. Experts can help you understand your Medicare plan and give you advice on how to make sure you get what you’re promised.
This article is reprinted with permission from NextAvenue.org.
If you felt overwhelmed by an influx of flyers, brochures, letters, emails, social media ads, and other marketing materials from insurance companies during your Medicare general enrollment last fall, you’re not alone.
“I’m a college graduate and I don’t understand anything,” says Liz Markowski, 74, of Vergennes, Vermont. “Frankly, I don’t want to understand that. I just want to be able to go to the doctor when I need to.”
Confusion is rampant. According to a report released by Democrats to the Senate Finance Committee in December, complaints about deceptive marketing aimed at luring Medicare-eligible consumers to join a plan or change plans will begin in 2020. doubled from 2020 to 2021.
The avalanche of competing plans is especially difficult for people experiencing cognitive decline, warned a Harvard Medical School professor in a recent health policy article.
A bill introduced in Congress in the fall of 2022 would be part of the embarrassment by banning private insurers from using the term “Medicare” in plan names and marketing materials, and imposing fines on those who fail to comply. attempts to alleviate
But the market is likely to remain embarrassed. Private insurers offer nearly 3,000 Medicare Advantage plans nationwide, as well as countless Medigap, Part D, sight and dental policies.
Understanding Medicare
It therefore makes sense to take steps now to ensure productive open enrollment in 2023. Here’s what experts and experienced Medicare consumers recommend adding to your list of New Year’s resolutions.
know your plan
Between 2008 and 2020, according to a survey released in November by the Kaiser Family Foundation, only 6% to 12% of consumers switch plans during Medicare general coverage.
Some people are satisfied with their current plans and stay put because they can’t find anything good in their shopping. There may be, says senior policy analyst Jeanie Fugresten Viniek, lead author of the study.
Also read: Medicare is broken — and not the way you might think
start with the basics
If you’re in a chaotic camp, make time early in the year to clarify the basics.
“A lot of people don’t know what they have,” says Chuck Bradley, 76, a retired human resources officer from Watertown, Connecticut. “It’s confusing.”
challenge dangerous practices
Take responsibility for planning for 2022. If you’re one of half the Medicare-eligible consumers with a Medicare Advantage Plan, make sure you get what you’re promised. If you find that you are not, you may be able to change your plan by calling 1-800-MEDICARE.
Also, be sure to report any deceptive marketing or billing to your local Senior Medicare Patrol, a federal agency program for community living.
Regulators listen: CIGNA and United Healthcare, two of the largest providers of Medicare Advantage plans, are defending themselves in a civil lawsuit filed or joined by the Department of Justice in 2022. Registrants claimed to be sicker than they really were. The insurer faces fines that are at least three times what she could have charged the taxpayer.
RELATED: Will Real Medicare Advantage Stand Up?
track your spending
Understand your medical needs and costs. January is a good time to review the medical services you’ve used and how much you’ve spent in the previous year. It’s also a good time to start tracking your upcoming expenses if you haven’t already.
“Print out your expenses for the year from your bank account, grab a highlighter, highlight and total everything medical-related,” suggests Linda Mathieu, a personal financial coach in New York City. “It doesn’t have to be complicated. No apps. No spreadsheets.”
Matthew recommends aiming for at least three years of data to guide you when comparing health insurance options during open enrollment. Ideally, this means he starts his record before he turns 62. Aggregate includes out-of-pocket costs, deductibles and other out-of-pocket costs for medical expenses and other health needs.
Biniek also recommends keeping track of how many times you’ve been to the doctor, who the doctor is, and what prescriptions they’ve given you.
That way, when open enrollment starts in 2023, we’ll be ready to compare costs and see if a particular plan covers a particular doctor, specialist, and medication.
Please consult an expert. Bradley, a retired human resources officer, consulted insurance brokers during the 2022 open registration period. He will see if any of his touted Medicare Advantage plans can offer better coverage than his current plan, the original Medicare with its Medigap policy by AARP. I wanted to He concluded that he didn’t need the extra benefits that the Medicare Advantage Plan offered, such as dental insurance and gym memberships. he stayed there.
More information: Do you know what Medicare doesn’t cover and can you afford them?
free advice available
“It got really complicated,” says Bradley. “I recommend that you consult someone who is familiar with and represents all plans.”
Biniek agrees. In addition to insurance brokers, she cites federally funded state Health Insurance Assistance Program (SHIP) counselors as good options for free professional assistance. Each state has a SHIP office. Consumers can schedule a consultation with a SHIP counselor during open registration each year.
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Financial Coach Matthew is an MIT-trained engineer. But she won’t try to navigate health insurance on her own. When her husband turned 65, the broker helped him select a plan that met his needs.
“Our broker is a lifesaver,” says Matthew. “She has all the information in her hands, so I don’t have to investigate. I should be good at this job, but honestly, who would take 12 hours?”
Claudia Mitchell Morain is a freelance writer and editor based in Davis, California.
This article is reprinted with permission from NextAvenue.org. (c) 2023 Twin Cities Public Television, Inc. All rights reserved.
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(Closed) Dow Jones Newswire
01-11-23 0501ET
Copyright (c) 2023 Dow Jones & Company, Inc.
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