We’re now officially about two weeks into the 2022 Medicare Open Enrollment period. While it runs until December 7th, there’s no better time than now to begin planning and preparing (if you haven’t done so already). Whether it’s your first time enrolling or you need a refresher on how to ensure successful enrollment, here’s some essential information to help you get started.
What is Medicare?
Medicare is a form of federal health insurance meant for individuals 65 and older. Younger people with disabilities or people with end-stage renal disease may also qualify. The main goal of Medicare programs is to assist qualifying individuals with healthcare costs.
There are two main parts to Medicare. Part A is hospital insurance, which covers in-patient care such as hospital stays and home health care. Part B (medical insurance) helps take care of healthcare costs such as doctor’s visits, preventative services (including wellness visits and certain vaccinations like the COVID vaccine), and durable medical equipment. You can also choose to add on Part D, also known as prescription drug coverage, to help cover the cost of many medications.
Tips for successful Medicare enrollment
If you qualify for Medicare, there are a few things you’ll want to do to ensure successful enrollment in a plan that best fits your needs:
Consider your needs
One of the first things you should do is consider your unique situation. Do you have specific needs, illnesses, or pre-existing conditions? Do you visit the doctor frequently? The answers to these questions can help guide you toward an ideal plan.
Go over your Medicare plan options
Along with Medicare Parts A and B, there’s also Medicare Part C. Better known as Medicare Advantage, this plan closely mimics private health insurance. It’s a bundled plan that consists of Part A, Part B, and (often) Part D. While you will need to use in-network providers, it does offer some additional benefits like vision, dental, and hearing coverage.
Review the 2022 health and prescription drug plans
Most Medicare drug plans place prescription drugs into tiers, each of which has its own cost. In most cases, the higher the tier, the higher the cost, which means you’ll likely pay more out of pocket. Keep in mind that each plan may divide medications differently. When comparing plans, you’ll want to see where your prescriptions may fall.
Plans can change their lists at any time. Reviewing the 2022 drug plans will ensure you have the latest information so that you can make the best choice possible for your needs.
Get discounts on your prescription medications, even with Medicare
If you need prescriptions that your Medicare plan doesn’t cover or you’re waiting for your Medicare coverage to begin, you can use rxless to get discount offers on medications at pharmacies such as CVS, Walgreens, and more. Even after your coverage takes effect, you can continue to use rxless if a discount offer provides more savings than your plan.