While seniors are often bombarded with contacts about switching their Medicare plans, making the best decisions during the annual enrollment period coming in October takes a little help.
Medicare Part A includes hospital, inpatient and home health care coverage, and Part B is supplemental medical insurance to cover doctor visits and outpatient services. Part B often requires a monthly premium and regular copays. Part C, often called Medicare Advantage Plans, is a private insurance option for hospital and other medical coverage, which is offered as an option instead of A and B. Part D covers prescription drug costs and is optional.
So, what can recipients of the many attempts for information do? A local independent agent, like Olson, is a no-cost solution that can help. Independent agents make their money from the health carriers to which they refer people. Olson said good agents are willing to lose money if their client is already on the best plan without switching.
In his advisory role with the Centers for Medicare and Medicaid Services, Mattingly helped with the implementation of the drug price negotiation program in its beginning stages. He said the negotiation will help users of those first 10 prescription drugs save money, but only covers those 10 out of thousands of drugs that are available.With nearly 56 million adults over 65 years old in America, President Joe Biden has said the negotiations will help up to 9 million save almost $6,500 on average.
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