Medicare Open Enrollment
Brenda Langdon, Family Resource Management Agent
The Medicare Annual Enrollment Period is from October 15th to December 7th. This is a once a year opportunity to review your prescription drug coverage for the coming year. If you take this time to shop and compare plans, you may be able to lower your co-pays and out-of-pocket costs for 2021 by switching to a different plan.
A Medicare counselor can sit down with you and help you determine which plan is best for you. You may be able to find plans in your area that:
Prescription drug coverage can vary by cost, coverage, convenience and quality. Some of these things might be more important to you than others., depending on your situation and prescription drug needs. Your plan will send you information about plan changes each fall. You should review your prescription drug needs and compare Medicare drug plans during Medicare Open Enrollment.
With your prescription drug coverage, you pay part of the costs and Medicare pays part of the costs. Your costs will vary depending on which plan you choose and if you get Extra Help. Most drug plans charge a monthly fee that varies by plan.
Your copayment or coinsurance is the amount you pay for each of your prescriptions after you’ve paid your deductible, if your plan has one. Some plans have different levels or “tiers” of copayment or coinsurance depending on the drug. Coinsurance means you pay a percentage of the cost of the drug. Copayment means you pay a set amount ($10 for example) for all drugs on a tier. For example, you might have a lower copayment on generic drugs than brand name drugs, or lower coinsurance for some drugs.
Check with your drug plan you’re considering to make sure your pharmacy is in the plans network and that there is a pharmacy convenient to you. Even if you aren’t changing plans, make sure your pharmacy is still in your plans network next year. Plans may change their network pharmacies each year.
By meeting with a Senior Health Insurance Counselor for Kansas (SHICK), they will help you consider these things when choosing Medicare drug coverage.
Each year you have the opportunity to switch your prescription drug plan during Medicare Open Enrollment, which runs from October 15 – December 7. If you switch plans during this time, your coverage with the new plan will start on January 1. It’s a good idea to review your current plan. Each year drug plan benefits and costs can change. Look at other plans in your area to see if one may better meet your needs.
If you would like to meet with a SHICK counselor to help you with your prescription drug plan, contact Brenda Langdon, Post Rock District Family Resource Management Agent, at (785) 346-2521 or by email at bklangdon@ksu.edu.
A Medicare counselor can sit down with you and help you determine which plan is best for you. You may be able to find plans in your area that:
- Cost Less
- Cover your drugs
- Let you go to the pharmacy you want
- Get an estimate of your out-of-pocket costs
Prescription drug coverage can vary by cost, coverage, convenience and quality. Some of these things might be more important to you than others., depending on your situation and prescription drug needs. Your plan will send you information about plan changes each fall. You should review your prescription drug needs and compare Medicare drug plans during Medicare Open Enrollment.
With your prescription drug coverage, you pay part of the costs and Medicare pays part of the costs. Your costs will vary depending on which plan you choose and if you get Extra Help. Most drug plans charge a monthly fee that varies by plan.
Your copayment or coinsurance is the amount you pay for each of your prescriptions after you’ve paid your deductible, if your plan has one. Some plans have different levels or “tiers” of copayment or coinsurance depending on the drug. Coinsurance means you pay a percentage of the cost of the drug. Copayment means you pay a set amount ($10 for example) for all drugs on a tier. For example, you might have a lower copayment on generic drugs than brand name drugs, or lower coinsurance for some drugs.
Check with your drug plan you’re considering to make sure your pharmacy is in the plans network and that there is a pharmacy convenient to you. Even if you aren’t changing plans, make sure your pharmacy is still in your plans network next year. Plans may change their network pharmacies each year.
By meeting with a Senior Health Insurance Counselor for Kansas (SHICK), they will help you consider these things when choosing Medicare drug coverage.
- Take specific drugs, look at drug plans that include your drugs on the formulary (a list of prescription drugs covered by a drug plan) and help you compare costs.
- Take a lot of generic prescriptions, look at plans with “tiers” that charge you nothing or low copayments for generic prescriptions.
- Don’t have many drug costs now, but want coverage for peace of mind and to avoid future penalties, look at plans with a low monthly premium for drug coverage. If you need prescriptions in the future, all plans still must cover most drugs used by people with Medicare.
Each year you have the opportunity to switch your prescription drug plan during Medicare Open Enrollment, which runs from October 15 – December 7. If you switch plans during this time, your coverage with the new plan will start on January 1. It’s a good idea to review your current plan. Each year drug plan benefits and costs can change. Look at other plans in your area to see if one may better meet your needs.
If you would like to meet with a SHICK counselor to help you with your prescription drug plan, contact Brenda Langdon, Post Rock District Family Resource Management Agent, at (785) 346-2521 or by email at bklangdon@ksu.edu.
