Maximizing Your Medicare: Essential Tips for Open Enrollment 2024 with Expert Emily Gang

The 'What's Next?' Retirement Podcast

Summary: In this episode of What's Next in Retirement, Craig Wear welcomes Medicare expert Emily Gang to unpack the intricacies of Medicare open enrollment. Whether you’re already enrolled or gearing up for your first enrollment, Emily shares essential insights on the choices available and critical considerations for 2024. From big changes to Medicare Part D, including a new $2,000 cap on medication copays, to the nuanced pros and cons of Medicare Advantage plans, this episode is packed with practical advice to help listeners make informed decisions that align with their unique healthcare needs. Craig and Emily also discuss why it’s crucial to get Medicare right the first time to avoid costly errors down the road.

Tune in as they dive into strategies to save on premiums, avoid common pitfalls, and leverage Medicare’s evolving landscape to protect your healthcare and finances in retirement.

Episode Highlights:

• [00:01] - Introduction to Medicare open enrollment and why it matters now.
• [02:33] - Key updates for 2024, including the impact of the $2,000 cap on prescription copays.
• [03:55] - How failing to review Part D plans could leave money on the table.
• [08:00] - Medicare Part B premiums and expected changes for high-income earners.
• [11:50] - Risks associated with Medicare Advantage plans and network limitations.
• [16:17] - Action steps for Medicare recipients before December 7th to optimize coverage and costs.
• [18:30] - Importance of choosing a reliable Medicare provider to avoid future complications.
• [20:59] - Closing advice: Be proactive in understanding Medicare rules to make the best decisions.

Links & Resources:

• Connect with Emily Gang, “The Medicare Coach,” for personalized Medicare consultation: https://q3adv.com/services/financial-planning/
• Medicare.gov for plan comparisons and to check network status.
• GoodRx, SingleCare, and Cost Plus for medication coupons and additional savings.

If you enjoyed this episode, please rate, follow, and share What's Next in Retirement! Don’t forget to check the show notes for a free consultation link with Emily to explore your best Medicare options.