ORANGE, Calif. -- (BUSINESS WIRE) -- With Medicare’s Annual Election Period (AEP) here, it’s important to give some attention to your healthcare coverage and budget needs as you look at the upcoming year.
If you are considering making any changes to your healthcare insurance, or you found you experienced a change in your needs during this past year, you will want to research and compare plans now, so that you are ready to make a choice during the AEP.
“Medicare’s Annual Election Period starts on October 15 and ends on December 7,” says HealthCompare’s Senior Vice President Kyal Moody. “During this time, those eligible for Medicare have the opportunity to change Medicare Advantage plans, drop Original Medicare and enroll in a Medicare Advantage plan, drop a Medicare Advantage plan and return to Original Medicare, add a Prescription Drug Plan to your Medicare coverage, or switch from one Prescription Drug Plan to another.
“Now that health plans have sent their coverage packages to enrollees, you can review your plan’s costs and benefits for next year and decide if your current plan will continue to meet your needs and preferences in 2014,” notes Moody.
Reflecting on your medical expenses from this past year is a great way to start planning ahead. If you faced unexpected medical issues, or your prescription drug needs changed, you may find your current plan simply doesn’t provide you with the coverage you need as you move forward. Instead, you might want to explore your options during AEP and find the plan that is just right for you.
One of the resources available to compare Medicare Advantage (Part C), Medicare Supplement (Medigap), and Prescription Drug (Part D) plans is Joppel.com. Medicare beneficiaries, who often live on limited budgets, can narrow their plan choices according to criteria based on their own personal circumstances.
“Your healthcare budget includes more than premiums and copayments,” counsels Moody. “When looking at plans, it’s also good to compare costs for hospitalizations, prescription drug deductibles, and out of pocket maximums.” There are many factors to consider, but by starting now, you have time to examine your options and make sure you have financial security and the healthcare coverage you need for 2014.
Joppel® is a division of HealthCompare®, an online resource expressly designed to help consumers and brokers easily research, compare, and select the right individual, family, or Medicare health insurance plan at the right price. Through the Joppel.com website, Medicare-eligible individuals, their family members, and caregivers have easy access to side-by-side plan comparisons for hundreds of Medicare Advantage (Part C), Medicare Supplement (Medigap), and Medicare Prescription Drug Program (Part D) plans from insurance carriers nationwide. Joppel by HealthCompare is part of The Word & Brown Companies, which provide insurance services nationwide through more than 50,000 brokers to hundreds of thousands of consumers and approximately 60,000 employers with nearly 6.5 million eligible employees. The Word & Brown Companies also include the Word & Brown® General Agency, with divisions focused on group and Medicare, individual, and family insurance coverage; CONEXIS, the nation’s first outsourcing provider to offer benefits administration on a single, web-based, fully integrated system; CHOICE Administrators®, the nation’s leading developer and administrator of health insurance exchange programs; and Quotit® Corporation, the foremost national provider of Internet sales and marketing solutions for the health insurance and employee benefits industry.