Frustrated with your Medicare coverage? You have until Dec. 7 to look for new options.
That's the last day of open enrollment for current beneficiaries. Changes made to your plan go into effect Jan. 1.
With speculation still swirling about possible changes to the program's "hold harmless" provision — a rule that will stick people who are delaying Social Security and higher income beneficiaries with big premium hikes for 2016 — managing costs and benefits is more important than ever, experts said.
"It really takes an individualized assessment to find the right plan," said Casey Schwarz, senior counsel for education and federal policy at the Medicare Rights Center. "The one that's right for your neighbor or even your spouse might not be the one for you."
That's certainly true for couples with different health profiles, where one very healthy spouse might choose a plan that's low on premiums and higher on out-of-pocket costs, while the sicker spouse chooses a higher premium and lower out-of-pocket costs.
But it could also be true for couples in more comparable health situations, she said.
"I was speaking with someone the other day who uses a brand-name medication, and his wife takes a different one. There wasn't a single plan in the lowest cost tier that had them both, so they chose separate plans," she said.
Managing two plans in one household could be a hassle but potentially worth it if it means savings of hundreds or thousands of dollars a year.