Choosing the Right Medicare Plan: A Guide for Texans
Picking the best Medicare plan can feel overwhelming, especially with all the options available. This year, with news of Medicare drug price negotiations and economic uncertainties, it’s more important than ever to choose wisely.
Ashford Insurance, serving Texans on Medicare, wants to help you navigate the upcoming Annual Enrollment Period (AEP) from October 15 to December 7, 2024. Here are some key tips:
- Review Your Current Plan (Even If It’s Working)
It’s a good practice to revisit your plan every AEP, especially if your health, finances, or living situation has changed. Look out for your plan’s Annual Notice of Change (ANOC) letter in September, which details any adjustments to your coverage for the coming year.
- Prioritize Your Needs: Network, Medications, and Cost
When comparing plans, focus on what matters most to you.
- Network: Check if your preferred doctors and specialists participate in the plan’s network (in-network).
- Medications: Review the plan’s formulary (list of covered drugs) to ensure it covers your current medications and potential future needs. In 2025, out-of-pocket drug costs will be capped at $2,000 but consider the total cost including premiums and pharmacy expenses.
- Explore Value-Driven Options: Medicare Advantage Plans
Looking for affordability and comprehensive coverage? Medicare Advantage (MA) plans might be the solution. MA plans cover everything Original Medicare does, often with extras like dental, vision, hearing, and prescription drug coverage. Look for plans that offer:
- Over-the-counter allowances
- Transportation assistance
- Fitness programs
- Healthy grocery discounts
Remember, some MA plans have no premiums, but check out-of-pocket costs to find the best fit for your health needs.
- Understand Your Plan Before You Enroll
Before enrolling, ensure you grasp the plan’s details. Here are resources to help:
- Medicare (24/7): 1-800-MEDICARE (1-800-633-4227)
- TTY users: 1-877-486-2048
- Medicare Plan Finder: Medicare.gov/plan-compare
- State Health Insurance Assistance Program (SHIP): www.shiptacenter.org
Need Local Help?
Contact Ashford Insurance at 817-952-3153.
By following these tips, you can confidently choose the Medicare plan that best suits your needs and preferences during the upcoming AEP. Remember, Ashford Insurance is here to help Texans navigate their Medicare options.
Photo by Adenir Figueiredo Carvalho
