Medicare open enrollment season is here through December 7, but with a record 4,000 health care options available to seniors, choosing the right one can feel overwhelming.
Nearly three-quarters (72%) of 1,260 adults in a survey by insurance company Nationwide said they wish they understood Medicare coverage better. More than 70% couldn’t correctly answer basic questions about Medicare, such as what it covers, how Medicare Part B works, and cost considerations for different Medicare plans. They also sharply underestimated the average cost of health care in retirement, putting it at $55,343 when the actual cost last year was almost triple that at $172,500 for an individual, it said.
With so much at stake, a recent survey by financial services firm Voya still showed that 7 out of 10 people would rather go to the dentist, get their car serviced, or prepare their taxes.
To help the more than 65 million Americans on Medicare weigh their options and decide whether to change or keep their current plans, experts offer advice to get you on the right path. First, know the difference between Medicare and Medicare Advantage, experts say. That’s explained below, followed by their top tips to ensure you have the best plan to suit your budget and your health needs.
Medicare open enrollment dates?
Every year, Medicare’s open enrollment is October 15 – December 7.
What are the 3 types of Medicare?
Original, or traditional, Medicare gives you access to any doctor or…
