Page 7 - Fall 2017 Travelore

DRVC Travelore - Page 7
It Is Time
Schedule Annual Medicare Maintenance Now
Medicare Open Enrollment begins October 15th and
ends December 7th. Reviewing your Medicare annually is just as important as scheduling your motorhome annual engine maintenance. Why? Because you may need to make changes. Regardless of how you supplement your Medi- care, open enrollment should be calendared for the reason provided above, a change may be in order. Unfortunately, many folks enroll in Medicare supplemental plans and never look back.
Medicare Part D is evolving and changing annually. It is the most misunderstood component of Medicare. Know- ing how it works is critical to your wallet and your health.
Medicare Open Enrollment Is a Call to Action
Taking a few simple steps will provide you peace of mind for the coming year for RVers and others on Medicare.
Step #1 -– Your Medicare Part D plan or Medicare Advan- tage/Part D should be on your calendar October 1 each year. That is the date you will receive your “Annual Notice of Change” from your insurance company. Open it imme- diately! Look to see if your monthly premium is chang- ing. Also, check to see if your preferred pharmacy lost its contract with your insurance company. If so, the resulting action can dramatically drive up the cost of filling your prescriptions.
Step #2 – Pay close attention to drug formulary changes. In other words, are your prescriptions changing Tiers or being completely dropped from the formulary?
Most companies have 5-Tier formulary lists. Typically one can expect Tier #1 to be Preferred Generic Drugs, Tier #2 Non-preferred Generic Drugs, Tier #3 Preferred Brand Name Drugs, Tier #4 Non-Preferred Name Brand Drugs, and Tier #5 Speciality Drugs.
In 2013 insurance companies began shifting expensive generics to a higher formulary Tier. For example, a prior Tier #2 non-preferred generic may now be mingled with higher cost Tier #3 preferred brand name drugs. When this happened unaware consumers found themselves paying a much higher cost for generic medications. A person on a large number of maintenance medications could easily experience significant, unexpected, out-of- pocket expenses from the previous year.
Step #3 - Conducting your review will tell you if staying on your current plan is okay or be the clue to shop for a new plan for the coming year.
Medicare clients who annually follow these three steps can wind up saving hundreds of dollars. If you already have a Medicare agent, ask them to assist you. Seeking the ser- vices of an agent specializing in Medicare costs nothing. Agents are trained and paid by the insurance companies to provide customer service so don’t be afraid to ask.
Finally, just like you attend rally seminars on taking care of your motorhome, attend a Medicare Educational Seminar. Become Medicare savvy and take better care of yourself!
See You On The Road!
Coleen Elkins www.24-7healthinsurance.com Licensed in 13 States
Member National Association of Health Underwriters
Coleen, the author of this article, is an active member of Diesel RV Club. She is providing the accompanying information as a service to DRVC members, many of whom are Medicare recipients. DRVC is not endorsing Ms. Elkins or any affiliation she may have with provid- ers. However, you are invited to check the following link for other, helpful information —
www.medicare4rvers.com
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