…begins October 15, 2019 – December 7, 2019. If you are on Original Medicare, you may look at the various Part D (Drug) plans to see which is most cost effective based on your formulary. The Medicare website: http://www.Medicare.gov allows you to input your prescriptions, locations, etc., to see the various drug plans available to you.
If you are an ongoing client of Financial Connections’, we offer a Medicare consultant to assist you at no additional charge. Please call or email us.
Part C Medicare is the Medicare Advantage option (think HMO – Kaiser). It is all-inclusive and no additional policies are required.
We have been asked if it is possible to switch from Medicare Advantage (HMO) to Original Medicare (non-HMO). In theory, yes. However, the issue of switching is whether or not you will qualify for a Medigap policy (supplements basic Medicare coverage – a must have). Insurance companies do utilize underwriting and have the option to deny coverage. (Remember: The only time you cannot be denied Medigap coverage is when you turn 65 in what is known as “your guaranteed-issue period.”
It is why it is important, as you turn 65, to decide which approach to coverage is best for you.