The December 7th deadline for Medicare open enrollment is fast approaching, and there are several last-minute online resources you should be aware of. Many of these resources offer tips that could end save you and/or your parents a lot of money when signing up for 2014 coverage through the federal health insurance program for Americans age 65 and older.
According to Next Avenue’s Caroline Mayer, open enrollment for Medicare is the annual period when Medicare beneficiaries can choose, switch, add, or drop their health and prescription plan coverage for the year ahead. Lets take a look at some of the resources available to you, and get you going on the right track to Medicare enrollment.
Free Online Tools
My Medicare Matters, run by the National Council on Aging, provides two excellent online tools. One is the Rx Savings Calculator, which shows whether you could pay less in Medicare premiums and out-of-pocket costs by switching Medicare Part D plans. After you enter your ZIP Code, Part D plan, and medications, the calculator instantly shows you how much you could save by switching plans.
If you do learn you could pay less for a Part D plan using that tool, you might then try Medicare QuickCheck. Here, you answer a few questions in the confidential online questionnaire, and receive a free, personalized report with the National Council on Aging’s recommendations on how to shop for, and enroll in, the best plan for you.
The Medicare QuickCheck tool can also steer you to other Medicare savings, so it could be worth trying even if you don’t have a Part D plan.
The open enrollment period for Medicare is a time when you can save yourself some money. Take advantage of the tools available to you to make the best decisions.
Other Helpful Online Tools: Plan Finder | Medicare.gov
Article Sources: MarketWatch | Yahoo Finance