Ways To Save During Medicare Open Enrollment

October 24, 2012 § Leave a comment

Open enrollment has been underway for a week now and seniors have until December 7, 2012 to sign up for next year’s plan. Unfortunately, researchers from the University of Pittsburgh, Graduate School of Public Health have found that many seniors are overpaying for Medicare because they fail to choose the proper plan.

One main reason for this overpayment is because beneficiaries are choosing plans that don’t necessarily cover their needs. The study found that a typical senior is losing somewhere in the neighborhood of $368 per year. For some, that may not seem like a lot of money but for those on a fixed income a few hundred dollars can make a significant impact.

Another mistake that some Medicare recipients make is choosing the same plan they had last year. There are people who have been enrolling since Medicare Part D started in 2006 and they have been choosing the same plan for the past six years without considering that prescription drug plans change every year. It may be fine to stick with last year’s plan if there have been little or no changes in their medical history, but even slight changes in medications can make a difference in the amount of money they are responsible for paying.

Taking the time to throughly review and compare the available plans, will be worth it in the long run. There is no denying that understanding Medicare can be frustrating and confusing. Luckily there are several resources available to seniors to help them navigate which plan is best for them. Some of these include websites like http://www.PlanPrescriber.com, licensed health insurance agents who are certified to sell Medicare, or even by calling 1-800-Medicare. In our area, you can contact Barbara Schultz, Outreach Worker at Mendota Area Senior Services for help in signing up. She can be reached at 815-539-7700. She frequently travels around the area giving presentations and taking appointments to help Seniors.

If you or your loved one needs help locating someone who can help with Medicare questions, please feel free to call the Legacy Law Firm (815-570-2334) and we can suggest the appropriate agency to handle your question.

The Legacy Law Firm, LLC is located in Sandwich, Illinois and focuses on elder law and Life Care Planning for clients. The office may be reached by calling 815-570-2334 or email at dawn@legacylawil.com.

Weekly Law Office LogoLEGACY LAW FIRM, LLC:   helping your family build a legacy to last from one generation to the next.

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