Medicare annual open enrollment is here.  It began on October 15 to December 7, 2013,  During this period 50 million people are able to modify their healthcare coverage and while potentially lowering their costs.  Historically Medicare sees twelve to sixteen percent of Medicare enrollees change their coverage and Medicare plan.

Medicare Modifications Matter

Increased Medical Expenses

Review your health related expenses for the last year.  If you have experienced increased physician visits, increased prescription costs or been diagnosed with an additional health care issue it is important to take this fifty-four day window of opportunity to modify your Medicare Plan.

Retiring Healthcare Professionals

Many healthcare professionals are retiring.  If you have been informed that your physician intends to retire be certain your new physician of choice is included in your Medicare Plan.

Medicare Plans and Geographical Locations

Many beneficiaries do not realize that Medicare plans are tied to and priced by geographic locations.  Beneficiaries that have relocated or intend to relocate should review their Medicare Plan Options.

Your Current Medicare Plan has Been Modified

It is easy to disregard notices from your Medicare provider.  Pay attention to their communications.  If you find that your coverage is being reduced in a fashion that will create greater out of pocket expense examine Medicare Plan alternatives.  Consider the ‘donut hole’ gap of coverage where your medications are concerned.

Reviewing your Medicare plan options earlier rather than later will put you in a better position to research your options and get the help you may need during the annual enrollment window.