As millions of Americans evaluate their health plan options during this fall’s open enrollment season, a new survey finds that 3 in 5 Americans incorrectly defined key health care terms. This knowledge gap may result in less-than-ideal selections, which could cause you to miss out on plans that might better suit your needs and offer potential cost savings.
Enrollment timing: For people with coverage from their employer, open enrollment typically happens during a two- or three-week period between September and December. For those eligible for Medicare, the Medicare Annual Enrollment Period runs from Oct. 15 to Dec. 7 each year. For people shopping for individual plans on the Health Insurance Marketplace, open enrollment begins Nov. 1, 2024, and ends Jan. 15, 2025, in most states.
Here are a few tips to consider when choosing a plan that may help lead you to better health and cost savings:
- Plan ahead. Take time to understand the benefits, services and costs of plans available – including what might have changed with your current coverage. Pay attention to more than just the monthly premium, also understanding what out-of-pocket costs like deductibles, copays and coinsurance you may be responsible for. Resources like JustPlainClear.com and MedicareMadeClear.com can provide valuable assistance.
Medicare members and caregivers: As you weigh your options, assess the differences between Original Medicare and Medicare Advantage. Visit MedicareEducation.com to find answers to questions about eligibility, plan choices, prescription coverage and more.
- Help prevent unexpected costs. Check if your doctor is in your plan’s provider network, since visiting in-network providers can help reduce out-of-pocket costs. Make sure your medications will be covered next year by the plan you choose. And consider filling your prescriptions at an in-network pharmacy or with home delivery – more cost-efficient options.
Medicare members and caregivers: Original Medicare doesn’t generally cover prescription drugs. Consider enrolling in a Medicare Advantage plan with prescription drug coverage to help keep medication costs in check.
- Explore mental health coverage. Beyond in-person mental health care, you may have access to a virtual network of therapists and psychiatrists, along with advocates to help find the right behavioral health care or resources.
Medicare members and caregivers: Look for plans that offer virtual mental health care with a $0 copay.
- Look into specialty benefits. Additional benefits, such as dental, vision, hearing or critical illness insurance, are often available and may contribute to overall well-being.
Medicare members and caregivers: Original Medicare doesn’t cover most dental, vision and hearing services, but many Medicare Advantage plans do.
- Consider wellness programs. Many health plans offer incentives for taking healthier actions, like completing a health survey or exercising. Others provide personalized support to those living with common chronic conditions like Type 2 diabetes.
Medicare members and caregivers: Many Medicare Advantage plans offer gym memberships and wellness programs for members at no additional cost.
Source: Brandpoint
