Your Money Matters: Medicare Open Enrollment Ends Dec. 7

Medicare open enrollment is entering its final days, with the deadline set for Saturday, Dec. 7.

Lauren Jenkins, founder of Native Oklahoma Insurance, shared insights into the process and offered advice to those still navigating their options.

“It’s been busy as always, and we’re in the home stretch,” Jenkins said. “By Saturday, you need to have your plan reviewed and your new selections in place.”

Jenkins emphasized that this year has brought significant changes to Medicare, particularly to Part D, which covers prescription drugs.

“There’s been a lot of changes this year as far as the laws go, especially considering Part D coverage,” Jenkins said. “It’s really important to look at your options. There are increases in benefits, but that could also change your price or the drug formulary on your plan.”

According to Jenkins, consulting a local specialist can help Medicare enrollees navigate these changes and identify the best options for their individual needs.

“We like to look at each client as an individual,” Jenkins said. “Who are your doctors? What medicine are you taking? That way, we can tailor the best plan for you.”

Medicare beneficiaries must also be aware of penalties associated with not having prescription drug coverage through Part D. Jenkins pointed out that specialists can assist with finding programs that offer financial help based on income.

“It’s a confusing process, especially for Medicare,” Jenkins said. “We like to give a white-glove treatment, laying out how insurance will work and what your benefits are so you can make informed decisions.”

For those who miss the deadline, coverage from their current plan will typically roll over. However, Jenkins recommends reviewing plans annually to ensure they still meet individual needs.

“Your coverage should carry over, but plans may change their drug coverage or benefits,” Jenkins said. “If you have questions, it’s always good to contact your agent or carrier to make sure everything is in order.”

Open enrollment provides an opportunity for individuals to explore Medicare Advantage, Medicare supplements, or other plans that suit their health care needs. Jenkins urged anyone still unsure about their options to act quickly before the Dec. 7 deadline.

For more information, visit NativeOKInsurance.com or call their office at 918-876-0999.