Many people assume that once they choose a Medicare plan, there's no reason to review it again. However, Medicare plans can change from year to year.
Here are five areas worth reviewing annually:
1. Prescription Drug Coverage
Your medications may change, and so can your plan's formulary.
2. Hospital Copays
Many beneficiaries don't realize how much hospital expenses could cost under their current plan.
3. Doctor Networks
Make sure your preferred doctors and specialists are still in-network.
4. Extra Benefits
Dental, vision, hearing, and over-the-counter benefits can change.
5. Maximum Out-of-Pocket Costs
Understanding your financial exposure is important if a major health event occurs.
Taking a few minutes to review your coverage each year can help you avoid costly surprises.
