Advisers' guide to helping clients with open enrollment

There's still time to re-shop Medicare coverage for those already enrolled

Nov 24, 2018 @ 6:00 am

By Mary Beth Franklin

Financial advisers should urge their clients who are already enrolled in Medicare to re-shop their Medicare coverage during open enrollment season, which runs from Oct. 15 through Dec. 7 each year for coverage beginning the following Jan. 1.

During the annual open enrollment period, existing Medicare beneficiaries can switch from original Medicare to an all-inclusive Medicare Advantage Plan. In addition, Medicare Advantage members can switch to a different advantage plan or back to original Medicare, which usually requires buying a supplemental Medigap policy and a Part D prescription drug plan.

All Medicare beneficiaries can switch drug coverage during open enrollment each year, whether a stand-alone Part D policy or as part of a Medicare Advantage plan. Clients should look for plans that offer their specific prescriptions and doses at the best price.

The National Council of Aging offers a free online guide to Medicare open enrollment that recommends focusing on the four Cs: cost, coverage, convenience and customer service.

0
Comments

What do you think?

View comments

Recommended next

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print