Healthcare
UNDERSTANDING YOUR MEDICARE OPTIONS
Medicare enrollment can be a complex and mystifying process for seniors . It is safe to say Medicare even has its own lexicon as the Centers for Medicare and Medicaid Services online glossary included over 4,500 Medicare terms and acronyms ! However , the reason many people find Medicare confusing goes far beyond the acronyms , terms and jargon . The core issue is the general lack of health insurance literacy among beneficiaries . To help curb this issue , Pat Salas , President of SBHIS Insurance Services , has compiled a breakdown of coverage options .
The first action seniors can take is to make no changes to their existing plan . However , this can be financially risky and even lead to bankruptcy in some cases .
The second is a stand-alone prescription drug plan . This covers medication costs and prevents the member from having penalties added to their Medicare premium .
For the Medicare Supplement plan , the person has the freedom to go to any contracted medical provider in the country without a referral . They are responsible for paying a monthly premium and are required to purchase a stand-alone prescription drug plan to cover their medication costs .
The Medicare Advantage plan is the most popular plan . This involves choosing a primary care physician , who can then refer the beneficiary to specialists within the network they belong to . While they are no longer responsible for the original Medicare 20 % coinsurance , they are expected to pay preset copays .
Keep in mind that the annual enrollment period runs from October 15 to December 7 every year . This is the best time to review coverage options and make adjustments if necessary . The open enrollment period , which runs from Jan 1 to March 30 , allows people to switch or join a Medicare Advantage or stand-alone prescription drug plan . Since Medicare plans change each year , it is a good idea to make sure your coverage still meets your needs . SBHIS is always happy and able to assist .
28 GBSAN . COM | DECEMBER 2022
SBHIS Founder and Chief Dream Enabler Pat Salas
La inscripción a Medicare puede ser un proceso engorroso y complejo para las personas mayores . Es cierto decir que Medicare tiene su propio lexicón ¡ ya que los Centros de Medicare y los Servicios de Medicare en línea incluye un glosario de más de 4,500 términos y siglas de Medicare ! Pero la razón por la cual muchas personas encuentran a Medicare confuso va más allá de las siglas , terminología y léxico , el tema esencial es la falta general de educación sobre seguros de