thing for Part A, but must pay a pre- mium for Part B that depends on their income. Together, Part A and B are cal- led “Original Medicare.” Part D is op- tional and must be purchased separa- tely from Original Medicare. Choosing the right Medicare plan Finding the right Medicare plan isn’t easy. American seniors must navigate the thousands of different Medicare options and understand the right en- rollment periods to avoid late penal- ties. As a result, many Americans rely on Medicare brokers to help them with their choice. However, this doesn’t always work out. Most American seniors have access to over 50 Medicare options — but on 80% of Medicare calls, the insurance broker presented only one. The Medicare industry is fraught with misleading advertisements and dishonest brokers who serve as agents of insurance carriers rather than advo- cates of consumers. As a result, many Americans choose Medicare plans that aren’t right for their situation. When selecting a plan, it’s impor- tant to compare the costs, including premiums, deductibles, copayments, and coinsurance. Also, it’s important to consider the plan’s out-of-pocket maximum to understand the potential financial exposure. Medicare assigns star ratings to Me- dicare Advantage and Part D plans based on factors like customer satis- faction, clinical outcomes, and plan performance. It’s important to review the star ratings when comparing plans to ensure you select one that is high quality. In other words, not all plans are
made equal. That’s why it’s important to compare all your options to find the right one. Supporting Your Employees The Ohio Chamber of Commerce has partnered with Chapter, an inde- pendent Medicare Advisor, to provide unbiased, comprehensive Medicare guidance to Ohio seniors who are eligi- ble for Medicare. Unlike most Medica- re brokers, Chapter’s advisors compare every Medicare plan, not just the ones that pay them the most. The Medicare open enrollment pe- riod is coming up, which takes place every year from October 15th to De- cember 7th. During this time, Medica- re enrollees can change their Medicare Advantage or Part D plan, switch be- tween Original Medicare and Medica- re Advantage, or join a Part D plan if they haven’t already. Chapter is also a helpful resource for employees who do not have Medicare yet but who are or will soon become eli- gible. Chapter Advisors will walk them through the sign up process, evaluate all of their coverage options, and ensu- re they find coverage that keeps their preferred providers in network while minimizing costs and maximizing any other benefits. If you’re interested in supporting your Medicare-eligible employees during this year’s open enrollment, reach out to occ@getchapter.com or find them on our website listed under “Member Savings.” They can host Me- dicare webinars for your team, provide you with email templates and educa- tional materials to send to your em- ployees, facilitate 1-1 consultations, and provide any additional support you need on Medicare at no cost to you or your team.
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