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ACA Open Enrollment Ends Dec. 15. Review Your Options Before Being Locked in for 2018. Read More

 

Medicare Open Enrollment Ends Soon

A different medical or prescription drug plan could save you money

Two days left to pick your Medicare plan

Allison Michael Orenstein/Getty Images

Your health care needs might change from year to year, and you might find that you will be better off — and save money — by researching a different Medicare mix.

With Medicare’s open enrollment period set to close Dec. 7, there’s still time to review your options before being locked in to medical and prescription drug coverage for all of 2018.

Premiums will be a mixed bag next year. The basic Part B monthly premium will hold steady at $134 for people not collecting Social Security benefits. But if you are among the majority of Medicare beneficiaries on Social Security, your Part B premium will likely increase. The amount it will jump depends on the level of your Social Security benefit.

If you are enrolled in a Medicare Advantage plan, your average monthly premium is expected to decline slightly. So will premiums for the average Part D prescription drug plan. Premiums for these plans vary based on where recipients live and what plans they select.

Keep in mind that your health care needs might change from year to year, and you might find that you will be better off — and save money — with a different Medicare mix. But you’ll need to do some quick research to determine your best option.

You can get more information about what Medicare covers, what plans are available in your area and how to enroll or change your coverage by going to www.medicare.gov. You can also call the Medicare hotline at 800-MEDICARE (800-633-4227).

AARP has several resources to help you comparison shop:

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