How To Save Money On Medicare
Kiplinger's Personal Finance|October 2018

During open enrollment, take a hard look at Part D and Medicare Advantage plans.

Kimberly Lankford
How To Save Money On Medicare

If you have a medicare part D prescription-drug plan or a Medicare Advantage plan (which combines medical and drug coverage), you have an opportunity to switch plans every year during open enrollment, which runs from October 15 to December 7.

Many people put their Medicare Advantage and Part D plans on autopilot, although the choice of plans, costs and coverage, as well as your health care needs, can change from year to year. Sticking with the status quo could be a costly mistake in the coming year, because there have been major changes in benefits and coverage.

“Individuals are going to have to be much more conscious about their health care needs when they choose a plan for 2019,” says Tatiana Fassieux, of California Health Advocates, which runs the state’s Medicare counseling program. More insurers are offering plans with low premiums, but there are trade-offs, such as higher co-payments for drugs or smaller provider networks. If you’re healthy, these plans could save you money. But a low premium plan could end up costing you more if you have expensive medications or a lot of health care needs.

CUT THE COST OF PART D

The average premium for Part D plans is decreasing by $1 per month in 2019, to $32.50, according to the Centers for Medicare and Medicaid Services. New plans are entering the market (such as those from Mutual of Omaha, which offers popular Medicare supplemental insurance, or “medigap,” plans), and more insurers are introducing prescription-drug plans with lower premiums.

この記事は Kiplinger's Personal Finance の October 2018 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

この記事は Kiplinger's Personal Finance の October 2018 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

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