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Nate Purpura - Medicare Consumer Specialist

  • Broadcast in Health
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Medicare Annual Enrollment opens  October 15 and runs through December 7, 2012.

With so much buzz surrounding changes to Medicare due to Health Reform, in addition to uncertainty surrounding the future of Medicare pending the presidential election results, it's critical for seniors and caregivers alike to carefully review their current Medicare plans to ensure they aren't leaving hard dollars on the table. Some compelling statistics to consider:

* Millions of U.S. senior citizens face double-digit premium increases for major Medicare plans next year as major insurers raise fees, and seven of the 10 top-selling Medicare programs are raising fees between 11 percent
and 23 percent, according to analysis from Avalere.

* A recent study conducted among 12,000 Medicare Part D beneficiaries showed that 95% were not in the lowest cost plan and could have saved up to $654 a year if they had simply switched to a comparable plan.

* Only 10% of Medicare beneficiaries actually change their coverage each year during Medicare Annual Enrollment (Robert Wood Johnson Study)