Have you found the right Medicare plan yet? If so, stay with it. If not, you can enroll, disenroll, or change plans from Oct. 15 to Dec. 7 during the Medicare Annual Election Period. Every year, plan features and prescription coverage change, so you should practice due diligence to discover what fits your current needs best.
Plans differ widely in cost, coverage, provider networks, care coordination and additional benefits. Since each person has unique medical conditions, no one plan fits all.
For instance, can you afford the monthly premiums? What are the deductibles, copays and other out-of-pocket costs? Are all your Part D prescriptions covered and on what tier? Is your doctor in-network or are there additional costs to see out-of-network providers? Are dental, vision, hearing, gym memberships or flex-cards offered?
One way to start evaluating options is to open your “Medicare and You” book that is mailed each October. In the back, you will find quick comparison charts of every Medicare Advantage plan in Hawai‘i.
Remember, you may make more than one enrollment choice during the Annual Election Period, but the last one you chose will be the plan that becomes effective Jan. 1, 2021.
FINANCIAL BENEFITS INSURANCE INC.
1311 Kapiolani Blvd., Ste. 504, Honolulu, HI 96814
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