The Worse Mistakes A Medicare Beneficiary Can Make 

1) Assuming that nothing will change on January 1st Ex: Premiums, Drug Formularies, Doctors, Hospitals, Networks, Plans offered etc. Everything can change and usually does.

2) Not changing your address with Medicare

3) Not taking into account inflation

4) Staying in a plan that is too expensive/cancelling a plan that is too expensive without discussing it first with your children or advisor.

5) Not knowing what facilities are in Network with your plan. This is very important when it comes to rehab facilities.

 Things every Medicare beneficiary should do each year during the Annual Enrollment Period

1) For those on Advantage plans, review your annual notice of change ANOC

2) Included in that is your formulary. Make sure your prescriptions are still covered and if they are in the same tiers.

3) Tell your insurance agent about any of your needs that are changing. Such as: Moving, medical tests that are planned for the future, Changes in your health that may indicate/require a change in plans for next year

4) Make sure your doctors, primary and specialists are still in network

5) Make sure the rehab facility you would like to go to is in network

6) Don’t overlook supplementary benefits like: Dental, Vision, Hearing aid discounts and Sports club memberships

As seniors, it is essential that you stay pro-active and practice preventive medicine.

 Image from freedigitalphotos.net and courtesy of iosphere