Medicare can be overwhelming, and many seniors turn to their children for help navigating it.
With the open enrollment for 2023 coverage beginning on October 15 with an end date of December 7, there’s no better time than now to ensure your parents are on the right track regarding their Medicare coverage. Here’s how to go about it.
Understand the open enrollment period
There are various enrollment periods when you can apply for Medicare or make changes to it. One of them is the Open Enrollment Period.
During this window, Medicare beneficiaries can reevaluate their health plans and make changes to them or purchase new policies to meet their needs for the following year.
Know how the open enrollment period works
During the open enrollment period, you can:
Switch from original Medicare to Medicare Advantage.
Switch from Medicare Advantage to Original Medicare.
Enroll in a Medicare Part D prescription drug plan, switch to another plan, or drop Part D altogether.
Switch Medicare Advantage plans.
Know your parents’ need
To help your parents research and access the right Medicare coverage, talk with them about their specific coverage needs.
What monthly premiums can your parents afford?
What type of coverage do they need based on their current health requirements?
Do they need dental, vision, hearing, and well-being benefits?
Do they require prescription drug coverage?
Are they likely to require more comprehensive coverage in the future?
Ask a Medicare expert
You can get more information about Medicare from the official U.S. government Medicare handbook or the Senior Health Insurance Program (SHIP), a free nationwide service for Medicare beneficiaries and their caregivers.
Another great option is to contact a local independent Medicare insurance expert to answer all of your Medicare questions.
Independent Medicare insurance agents work with several insurance companies, so you can be sure they’ll be unbiased. Using their expertise, they can help you and your parents navigate Medicare, saving you time and money.