Health

Medicare Annual Open Enrollment Period 2023: 7 Costly Mistakes to Avoid

Published

9 months ago

December 12, 2023

Medicare’s Annual Enrollment Period (AEP) is a crucial time for retirees, running from October 15th to December 7th, 2023. It offers an opportunity to review and adjust your Medicare coverage to better align with your healthcare needs. However, many people inadvertently make mistakes during this period that can affect their health and financial well-being. In this article, we will delve into the significance of the AEP and shed light on seven common mistakes to steer clear of for the Medicare open enrollment period 2023 of this year.

Understanding the Medicare Annual Enrollment Period

The Medicare Annual Enrollment Period, or AEP, is an annual window from October 15 to December 7 when individuals with Medicare can make changes to their plans. During this time, you have the flexibility to choose between Original Medicare or opt for a new Medicare Advantage plan. Additionally, you can modify your prescription drug coverage through Medicare Part D.

Mistake 1: Not Reviewing Your Current Plan

One of the most common mistakes retirees make is assuming that their current Medicare plan will remain unchanged. In reality, plans can undergo significant alterations from year to year. To avoid this pitfall, it is imperative to thoroughly review your existing plan. Assess whether it still meets your healthcare needs and financial expectations.

Mistake 2: Overlooking Prescription Drug Coverage

Failing to review your prescription drug coverage can lead to unexpected expenses. Drug formularies, which list the medications covered by your plan, can change annually. Neglecting to check these updates may result in higher out-of-pocket costs or the realization that your essential medications are no longer covered.

Mistake 3: Ignoring Changes in Healthcare Needs

Your health status can evolve. Ignoring these changes can lead to missed opportunities for benefits that align better with your evolving health requirements. Conversely, it might lead to unnecessary expenses by paying for coverage you no longer need. Regularly assess your healthcare needs to ensure your Medicare plan remains suitable.

Mistake 4: Not Exploring Other Plans

Many retirees limit their exploration of alternative Medicare plans. AEP presents an ideal opportunity to investigate different choices and find a plan that may be more affordable or better suited to your preferences and health requirements.

Mistake 5: Disregarding Network Changes

Medicare Advantage plans often involve networks of healthcare providers, including doctors, hospitals, and specialists. These networks can change, and your preferred healthcare professionals may no longer be in-network. This oversight could result in higher costs or necessitate finding new healthcare providers.

Mistake 6: Focusing Solely on Premiums

While premiums are a vital cost consideration, fixating solely on this aspect can be misleading. Plans with low premiums may come with higher deductibles and copayments. It is crucial to evaluate the comprehensive cost of a plan, including potential out-of-pocket expenses, to determine its true affordability.

Mistake 7: Procrastinating

Delaying your Medicare plan changes until the last minute during the AEP can lead to missed opportunities and rushed decision-making. To make informed choices that align with your healthcare needs, initiate the process early, allowing ample time for research, decision-making, and enrollment.

Navigating the complexities of the Annual Enrollment Period can be challenging and time-consuming. At Exact Medicare, we are dedicated to guiding you through the process to ensure you select the right plan tailored to your unique healthcare needs. Don’t hesitate to reach out to us at 380-242-2006 or schedule an appointment at ExactMedicare.com for expert assistance. Your health and peace of mind are our top priorities during the Medicare AEP.

Health

The Secret Behind Life Alert’s Superior Service

Published

1 week ago

September 11, 2024

Michelle Langton

Photo courtesy of Life Alert via Shutterstock

When Amy Skidmore’s mother was discharged from rehab after a stroke, the prospect of giving up her independence was terrifying. Having lived alone and freely since her husband’s passing in 2000, the transition from rehab to home was filled with uncertainty and anxiety for both Amy and her mother.

Life Alert Emergency Response changed everything for them. Amy’s mother regained her confidence in living independently with a simple press of a button. The ease of having help at her fingertips relieved her and Amy of fear. Amy now has peace of mind that her mother is safe, and her mother is happy to maintain her independent lifestyle. This mirrors experiences of countless families who have depended on Life Alert’s service for nearly 40 years.

Various Devices to Suit Every Need

The company offers a comprehensive range of medical alert devices designed to provide protection at home and on the go. For in-home security, members can choose a state-of-the art Micro Voice Pendant and a waterproof wall-mounted Help Button, both of which offer two-way communication capabilities.

The pendant is designed to be worn at all times, even in the shower, while the wall button can be placed in high-risk areas like bathrooms.

For those with active lifestyles, Life Alert also provides a help button with a Global Positioning System (GPS) unit, which pinpoints the subscriber’s location so responders can find them quickly. Like all the devices from Life Alert, it does not require charging.

Exclusive Dispatch Center

Life Alert distinguishes itself with its in-house Monitoring Centers, all located in the United States. According to a representative from the company, this allows Life Alert to maintain high standards and have consistent, rapid response times. The Monitoring Centers provide round-the-clock protection and immediate emergency assistance.

Case in point, we found that Life Alert is the only medical alert company proven to save a life every 11 minutes.

The in-house setup also means that Life Alert can maintain control over the quality of its service, unlike competitors who outsource their monitoring to third-party call centers. This direct oversight also ensures that every call is handled with the utmost care and professionalism.

Extensive Dispatcher Training

Complementing its dispatch center is the training of its staff before they start handling emergency calls. This training includes learning about the Personal Emergency Response Systems (PERS) industry. The dispatchers must also complete a Care and Concern course to better understand the emotional needs of members and their families.

Maintaining a high staff-to-member ratio is another crucial aspect of the company’s superior service. There are multiple dispatchers available to handle calls promptly and provide personalized attention to each subscriber. This allows dispatchers to effectively perform their duties attentively without ever leaving the subscriber, and to provide fast help when every second counts.

Tailoring Responses to Individual Needs

Life Alert customizes its emergency response protocols to meet each member’s needs. As a HIPAA compliant company, when subscribers sign up for the service, they provide detailed information about their medical history, emergency contacts, and special instructions.

Dispatchers can then access this information during an emergency to send appropriate help immediately. This allows subscribers and their family to have a sense of security and peace of mind knowing loved ones are being taken care of by the one and only Life Alert.

Long-Term Customer Relationships

Reflecting its dedication to consistent, high-quality, lifesaving services, Life Alert has a loyal fanbase with its subscribers, who have been with them for years and even decades. They even have a list of thousands of subscribers who joined the Life Alert family after having another service that failed them. The company takes pride in the trust it has built with its members.

Life Alert is always ready and reliable, turning years of service into a legacy of care. The secret behind Life Alert’s superior service? It’s their uncanny ability to make “Help, I’ve fallen and I can’t get up!®“ sound less like a punchline and more like a lifeline to getting help fast, 24/7.