Planning for Medicare in 2018
Those numbers lump everybody together into one monolithic group, but that's not the case when
And there are plenty of choices. In
Many who are already enrolled in a plan they like simply let Medicare's open enrollment window close without taking any action.
"For most people, this is the one time during the year when they can make changes. But you don't want to make those changes without doing your homework first," Weil said.
There are also a few changes that are coming your way whether or not you decide to take a look around during Medicare's open enrollment window.
Today, most Medicare beneficiaries are paying a
"It's likely that, across the board, people who are paying
That's when Medicare is expected to announce basic Part B premiums for 2018.
There is also a bit of intrigue around another significant change in how everyone will use Medicare next year. In April, the
Why are they doing this? Well, your old number is based on your
However, in an ironic twist, those same thieves are using this change for one last burst of malfeasance. In
"In some cases we have reports of people calling up and telling them they can get their number embossed on a nice metal plate if they provide information over the phone," Weil said.
There are other variations of these scams which have callers impersonating
Medicare does not call and request this type of identifying information from its beneficiaries. Once the new ID number is in place, beneficiaries will have a 21-month grace period during which they can use either their old number or the new one.
The one site you must know
Visit www.medicare.gov/find-a-plan to enter your information and see what's available in your specific ZIP code. There is even a place for you to enter up to 25 different prescription drugs and have the website show you only those plans which include everything you're taking.
If you're not an Internet person, that's OK too. Anyone living in
Health insurance brokers are also available to help, and because they are paid through commissions on the plans they sell, they offer assistance at no cost to you. You can find an agent at www.nahu.org.
Medicare's makeup
Here is a refresher on Medicare's four essential parts. It pays to remind yourself what these mean before starting your research:
* Part A: Hospital insurance. Everyone gets it if they or their spouse has worked in
* Part B: Health insurance. This covers doctor visits, medical equipment and a vast range of other outpatient services. The government charges a monthly fee, and they deduct it from your
* Part C: This is not a separate benefit but rather a special section which allows private companies to administer a person's Medicare benefit through Medicare Advantage plans. In
* Part D: This part of Medicare pays for prescription drugs and has its own monthly premium on top of what you pay for Part B.
There is another key to understanding Medicare: There are two different flavors, Original and Advantage. Our "Turning 65" article describes the differences between the two.
(619) 293-1850
Twitter: @paulsisson
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