Insurance

You signed up for Medicare when you turned 65. Like most people, you probably breathed a sigh of relief, thankful that your health insurance decisions were settled.

But wait — not so fast. Didn’t any- one tell you about Medicare Open Enrollment?

Confused? So is everyone else.

Never heard about Medicare’s Open Enrollment period? If you are over age 65, you’ll soon find your mailbox jammed with official-looking envelopes from insurance companies competing for your attention. While it might be bewildering, it can also mean good news for you.

Many people find their initial enrollment in Medicare to be overwhelming. They often make mistakes. They may pick a plan that doesn’t cover the doctors or hospitals they prefer. Maybe there is a change in health or they chose a prescription drug plan that doesn’t cover their prescriptions. For whatever reason, they find they are locked into insurance coverage that simply does not fit their needs.

Medicare’s open enrollment is a chance for a do-over. It is an annual opportunity to take a close look at all the other Medicare health insurance options. It’s your chance to make changes that benefit you. Medicare’s open enrollment period begins every year on Oct. 15 and closes Dec. 7. During this period, people who have previously signed up for Medicare can:

• change from Original Medicare to a Medicare Advantage plan

• change from a Medicare Advantage plan back to Original Medicare

• switch from one Medicare Advantage plan to a different Medicare Advantage plan

• join a Medicare prescription drug plan

• switch from one Medicare prescription drug plan to a different Medicare prescription drug plan

• drop Medicare prescription drug coverage completely

Any changes made during this open enrollment take effect Jan. 1 of the following year.

WHERE TO BEGIN

Those covered by a Medicare Advantage plan or Prescription Drug plan will receive an Annual Notice of Change from their insurer outlining changes to their plan for the following year.

When you reach age 65, whether you are still working or took an early retirement, it’s time to educate yourself about Medicare.

“Medicare is a health insurance option that individuals have available to them when they are turning 65 or have been on disability for 24 months,” says Kathy Hirko, owner of KAZ Company in Independence, a business that helps people understand Medicare coverage plans.

Health care, in general, is confusing to most people — and Medicare is no different. Hirko provides some basics when venturing into the process.

CHOOSING YOUR PLAN

If you are collecting Social Security benefits and have turned 65, you might have already received your Medicare card.

There is an opportunity to enroll in Medicare three months before or after your 65th birthday. To apply for your benefits, contact Social Security by either phone, online or go to the local office.

There are different plans (A and B) for Medicare that cover 80 percent.

“You are paying into Medicare as you work,” Hirko says. “Part A (hospital coverage) is free to anyone who has worked 40 quarters. Part B is available and covers outpatient hospital, doctors, etc.”

People who use the Part B plan have to pay premiums. However, they can opt out during their enrollment period.

“They (might opt out) because they have coverage through work or don’t need to or want Part B,” she says. “More and more boomers are not ready to retire at age 65. You do not have to be retired to use Medicare and can continue to work. If you decide that you no longer want the company plan or are retiring, you would apply for Medicare A and B. “

Medicare can possibly cost less than the company plan. She says people should research the difference between plans.

Also, don’t forget prescriptions.