Question: When do we find out what our insurance looks like for next year, 2023?

Answer: We are fast approaching my favorite time of year, Annual Open Enrollment Period for the Medicare insurance products. Individuals with Medicare in the coming weeks will be receiving the 2023 information packets. Medicare Advantage Plans, the Medicare Prescription Drug Plans, & the Medicare Supplements all have slightly different coverage pricing and benefits each year.

Those changes are announced October 1 for the upcoming 2023 year. The Centers for Medicare & Medicaid Services (CMS) requires insurance companies notify to you of any changes in the New Year’s coverage by October 1. During the next few weeks of September, you will be receiving mail from your insurance company informing you of what 2023 coverage looks like for that plan. When you get that new information for 2023, focus on learning about how your insurance coverage may be changing.

October 1 is the date that all the Medicare related insurance products release their information allowing individuals to compare their alternatives for the New Year. The www.medicare.gov website will have all of that information on 10-1. On October 1, you can compare the other plans to your current plan and research some of the alternatives.

Then on October 15 the Annual Open Enrollment Period actually begins. This is the date that you can first make a change to your insurance coverage that will begin 1-1-2023. From October 15 to December 7 every year, those enrolled in Medicare and the accompanying insurance products can review and change their insurance to a product that will work better for them in the New Year.

When you have Medicare, you’ll notice an increase in the amount of mail (and maybe email) that you receive in the coming weeks. That mail includes important information about the insurance product you already have. That mail also includes information about many other products that are available to you.

You may have had very little change to your situation medically. You still need to evaluate your insurance decision. That evaluation always begins with your current coverage. Do you like it? Is it still available? Does the pricing structure stay pretty similar with regard to premium and co-pays for medical care and medications? Did it cover your medications easily and affordably and will it still be affordable next year?

When looking at those questions, if all the answers are “Yes” you can probably stay with your current coverage and let it roll over to 2023. In some years gone by, there are plans that are no longer offered, we will know soon about 2023. In previous years there have been plans that change names. Almost every year we have one or two new plans offered. Those are things to watch for.

Your mail box may see more activity in the coming weeks and more advertising on TV as well.

I am just reminding you to watch your mailbox and your in-box for Insurance information for 2023. Don’t throw away everything that comes. Be sure to open the information from your current insurance company, this is important information about your coming year. The information will help you decide on whether to keep the same coverage or change it.

I can’t wait to see what is new and exciting in 2023. My wish is that premiums go down and coverage increases for everyone. Happy Insurance Season!

Senior Life Matters is a community based program sponsored by Lutheran Jamestown. For questions and concerns or to reach Janell Sluga, GCMC, call 716-720-9797 or email SLM@lutheran-jamestown.org.