Navigating Medicare Open Enrollment
If you are a senior on Medicare or have loved ones in your circle of family and friends who need help, it's time to take advantage of the Medicare Open Enrollment period. The deadline is December 7.
The questions are many and the process can seem complicated, even overwhelming, for many seniors -- especially those who are not adept at doing research online or do not even have the ability to use a computer or smartphone.
There are plenty of resources available, especially Medicare.gov, where you can find and compare health and drug plans and even find someone to talk to for advice. And, there are lots of other resources available, too, with a simple Google search, or by calling local insurance agents.
Some of the questions to consider are these: Should you be in traditional Medicare or Medicare Advantage? If you're in traditional Medicare and can afford supplemental coverage, which plan is best for you? What about drug coverage? Which plan should you choose to get the best deal on the drugs you take?
If you're in Medicare Advantage, is that still the right choice? If so, which plan best meets your needs?
For help with all of this we invited Chris Orestis, president of Retirement Genius and an expert on financial health, longterm care, and retirement issues to be our guest on The Lean to the Left Podcast. He walks us through all of the steps to take and points out all of the factors to consider in choosing the best option for each individual.
Chris recently appeared on Lean to the Left and discussed efforts to reduce prescription drug costs by giving Medicare the authority to negotiate prescription prices with the pharmaceutical companies, an initiative that is still being considered on Capitol Hill. (Video above)
He is the author of two books, “Help on the Way” and “A Survival Guide to Aging” and his a third book, “Retire Like a Genius”, is expected to be published next summer. He’s been speaking for two-decades across the country about senior finance and the secrets to aging with financial and physical health and dignity.
One point Chris makes on this latest podcast is that if people spent as much time and effort researching their health insurance coverage needs as they do buying a TV they would be much better off.
Take a listen to this episode. It's all about protecting the health of our seniors.
