Medicare Open Enrollment season is quickly approaching. Way Insurance Owner Missie Shepherd breaks down anticipated changes in next year’s coverage options:
“Annual Enrollment Period on Medicare only applies to Medicare Part C and D. It does not apply to Medicare Supplements. Medicare is also seeing a lot of utilization and I expect another increase to the Part B premium. Last year was one of the biggest increases we hae seen. I would expect another pretty substantial one this year. There are at $202.90 a month now for Part B. I would expect maybe a 15 percent increase,” informs Shepherd.
“On the Medicare Advantage side, instead of raising premiums on Medicare Advantage, they tend to just decrease the benefits. One thing I expect out of Medicare Advantage next year is the loss of some of the extra benefits like dental, vision, and hearing. Those would be the first thing to be decreased or eliminated on a Medicare Advantage Plan,” Shepherd adds.
The annual Medicare Open Enrollment period runs October 15th and closes December 7th.
