Medicare - Changes You Can Make
Medicare’s Annual Enrollment period begins on October 15, 2023. Here are five things to consider.
- Prescriptions can be expensive. Here are a few ideas on how to lower your costs: 1) Buy your medications at your Medicare Part D plan’s preferred pharmacies. 2) Talk with your doctor about switching from a brand-name medication to a generic one. 3) Contact the drug manufacturer, your state’s Pharmaceutical Assistance Program, or Medicare’s Extra Help coverage to see if there is financial assistance available to you.
- Medicare Supplement premiums may periodically increase. Medicare Supplement plans are not subject to Medicare’s Annual Enrollment period. If you would like to explore supplement plan options with other carriers, you may apply at any time during the year. You may be subject to medical underwriting and approval requirements.
- Medicare Advantage Plan (Part C) commercials flood the airwaves during Medicare’s Annual Enrollment period. These are managed health plans where you generally must use their in-network physicians, hospitals, and providers. It may be a good option to consider if your Medicare supplement and Part D premiums have increased.
- Use a local broker who specializes in Medicare. While Medicare Advantage plans are heavily advertised by national brokerage firms, Towne Benefits Medicare Specialists offer you local, personalized service and multiple Medicare plan options.
- Medicare’s calling regulations are in place to protect you, the consumer. Exercise caution and develop a relationship with your trusted local broker. If you ever have a concern about someone who is calling you, you can contact the Center for Medicare and Medicaid Services at 1-800-633-4227.
Towne Benefits Medicare Specialist
The Medicare Annual Enrollment Period will be here before you know it. For over ten years, Steve Frazier has been helping senior adults throughout Virginia and North Carolina develop a comprehensive approach to their healthcare planning. He is a Certified Senior Advisor (CSA) who is also AHIP (America’s Health Insurance Plans) qualified.
Depending on your city and state, Towne Benefits has a team of additional Medicare Specialists who can assist you. Please visit Towne Benefits to search for a local Medicare Specialist near you.
Towne Benefits does not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact medicare.gov or 1-800-MEDICARE to get information on all of your options.
Insurance and investment products offered through Towne Benefits, a subsidiary of TowneBank, are Not a deposit, Not FDIC-insured, Not guaranteed by TowneBank, and may go down in value.