By Trish Pearson
Insuring Your Future
Trish Pearson
The TV ads aren’t stopping, the phones keep on ringing, the mail keeps on coming and those ads keep popping up on your computer…and then there is silence. Open enrollment for Medicare and individual health insurance ended Dec. 15.
However, it’s not really over if you are on Medicare. The period from Jan. 1 to March 31 is a time when people can make one change either to another Medicare Advantage plan or back to original Medicare with a supplement and prescription drug plan. So if you have a change in medical needs or you were hibernating during the annual enrollment period, you will have another opportunity to consider options. Contact a broker who specializes in senior insurance who can assist you.
For all others, there are certain circumstances such as loss of group insurance, change in residence, marriage, pregnancy or loss of a spouse that will allow you to enroll in a new plan.
There are some year-end issues to consider. Pay attention to the explanation of benefits that comes monthly from your insurance company. It contains valuable information regarding how much your medical care and prescriptions cost during the year. This information is helpful when trying to estimate future costs and for tax purposes. The December report should provide you with a summary of the year’s expenses. While keeping all the preceding month’s paperwork could be helpful, it is also available online so perhaps could go in the recycling bin.
Does your plan include benefits such as over-the-counter medications, dental, eyewear or hearing credit or reimbursement? In most cases those benefits expire on Dec. 31, so make sure to use them or file the paperwork for any reimbursement due to you.
Looking ahead to 2020, the issue of health insurance is certainly among the top three in next year’s political campaign cycle. It will impact everyone no matter what kind of health insurance you have. It is important that we consider all the proposals and register opinions. This issue will impact everyone in many ways. Candidates and elected officials need to hear from all of us regarding our experiences, challenges and concerns.
Are you turning 65 in 2020? Please join me for an educational seminar to discuss the “Medicare Alphabet Soup.” It is important to understand options even if you are currently working and receiving benefits through an employer. The sessions will be held in February, June and October at the Milford Public Library in the evening. Watch for specific dates in upcoming issues.
Finally, thank you to my loyal readers. It is a pleasure to write the column and rewarding to know that so many find it helpful. If there are specific topics you would like me to cover, please email me at trishpearson281@gmail.com or trish@insurewithtrish.com and I will be sure to address them in upcoming columns.
Here’s to a happy, healthy and a well-covered year ahead.