Open Enrollment – It’s Up to You
Senior’s Speak Out is a great name that exudes action and a resolve to advocate for ourselves and to right wrongs. At its core is action, a willingness to combine our voices into a single coordinated message that rises above the ever-present cacophonous noise that exists in today’s politics. The only way for us to succeed as a group is to take individual responsibility to respond to calls for action, to take the time to review and understand the issues to take a stance, and to contact those who govern us. I’m a big believer in individual accountability, that we all are responsible for our own actions and our own inaction. If we don’t get involved and don’t participate in our democracy, the government will slowly but methodically insert itself into our lives. Freedom is like our muscles, if we don’t use it, exercise it, participate in it, we’ll lose it. Hopefully, you’re revved up to take some action on the subject of today’s blog, open enrollment.
Open enrollment is the time when we have the opportunity to exercise our freedom to choose. There are two things that can happen if we don’t take the time to review our Medicare insurance provider. First, we are at risk of remaining in a program that costs us more money and provides us less access to the services and prescription drugs that we use. Second, we are not ensuring that insurance companies are actively competing for our business. If the insurance companies can count on most of us not reviewing our coverage, then they don’t have the incentive to improve service or price their product competitively. I go back to that concept - it’s our responsibility to find the best coverage for each of us. There are tools and people that can help us make the right choice for each of us, we just have to take the time to do it.
I’ve quoted these statistics before, but let me refresh your memory. If you’re at a party with 10 of your friends who are of Medicare age, only two of your friends have taken the time to compare Medicare plans, assuming that you are one that has. It’s also a fact that only 10% of Medicare Advantage (MA) participants change providers each year. I’m going to make a statistical leap here and say that a person would not make a change unless they had compared their plan with other plans, so it seems logical to assume that of the 30% that compared plans, a third of them changed plans because they found one better. I’m not sure if that’s an accurate assumption but what I do know is . . . you won’t find a better plan unless you go out and look for one.
Let me talk a little bit about Medicare Advantage plans. Over half of Medicare-eligible participants have chosen an MA plan. If you’re one of them, then you’ve probably heard some talk about changes to different plans and the government’s increased regulations as they evaluate the costs of MA plans. It’s true that there have been some plans that have discontinued coverage in some areas and that there has been a reduction in the number of Part D prescription drug plans available to choose from in some areas. It’s mostly due to the plan’s reaction to the increased regulations. I’m a fan of the ability of older Americans to make the right choices for them. When the legislation to create Medicare Part D was being debated, some lawmakers argued that older people would be confused by all the choices. It made me mad then - and it still makes me mad - that ageist attitudes remain in healthcare. There is a push this year at senior conferences to recognize and eliminate ageism in our legislation and our healthcare. More choices and more information are what seniors want and need, they don’t need more government regulations telling them what to do and giving them one size fits all solutions. Once again, your voice can tell them how you feel and your decision to research the best Medicare coverage for you will help preserve the choices and options you have.
Hopefully, I’ve got you fired up about reviewing your Medicare coverage. You’ve got until December 7th to make your choice, so don’t dally. Here’s some information that can help you in your research.
Use Medicare’s online plan finder and comparison tool. Answer a few quick questions, and the tool will show available plan options for 2025.
Contact your local SHIP office. The State Health Insurance Assistance Programs (SHIPs) give free, unbiased, in-depth, one-on-one insurance counseling and help. A SHIP counselor who understands Medicare and Medicaid can guide you to smart options for your personal situation. You can trust them because SHIPs are government programs funded by the federal U.S. Department of Health and Human Services and will give you an unbiased recommendation. You can also contact your local Area Agency on Aging. The local Area Agency on Aging has programs that help with Medicare Open Enrollment.
If you want to evaluate the different supplemental insurance plans available, use the Medigap Policy plan finder.
You could also call the Medicare office at 1-800-633-4227 and ask a representative to run a search and email you the plan options. I wouldn’t trust that using the mail will get you the results before December 7th.
I hope you take the time to make this important decision. It’s the best way to get coverage that fits you and can save you money.
Best, Thair