The Medicare open enrollment period for 2022 is coming up October 15 to December 7, when patients can join, switch, or drop a plan. As a trusted healthcare partner to your patients, independent pharmacists may be seen as a resource for their Medicare questions, which is a great opportunity to build meaningful relationships, improve patient retention and help your pharmacy grow.
Here are some commonly asked questions you may receive about Medicare Open Enrollment.
Who is Eligible to Apply During Medicare Open Enrollment 2022?
Any US citizen or legal permanent resident over the age of 65 can apply for Medicare open enrollment.
In some cases, patients under 65 may qualify if they are disabled and have been receiving Social Security Disability benefits for at least 24 months. Anyone diagnosed with Amyotrophic Lateral Sclerosis (ALS) or end-stage renal disease can also qualify early.
What are the Different Types of Medicare?
- Medicare Part A : Hospital insurance that includes inpatient and overnight hospital care, skilled nursing facility services, nursing home care, hospice care, and home health services.
- Medicare Part B: Medical insurance for outpatient services to prevent, diagnose, and treat medical conditions, like doctor’s appointments, tests, immunizations, durable medical equipment (DME), mental health services, and limited prescription drugs.
- Medicare Part C: Also known as Medicare Advantage, this is a bundled plan that combines Part A and B and Part D services. Part C also includes add-on services like vision, dental, and hearing.
- Medicare Part D: Additional coverage for Medicare Part A and B patients that covers prescription drugs.
What Can My Pharmacy Do to Help Patients During Medicare Open Enrollment 2022?
Medicare open enrollment 2022 directly benefits your independent pharmacy, as well as helping your patients navigate what can be a confusing process.
The average Medicare patient can save over $750 a year on prescriptions by switching Medicare plans. If patients can afford their medication, they are much more likely to be compliant with their dosing regimen, and they are more likely to keep their prescriptions with your independent pharmacy, because you helped them compare and choose the best Medicare plan for them.
Why Medicare Open Enrollment 2022 is So Important to Independent Pharmacies in Particular
Medicare Part D insurance plans have been increasing preferred status at pharmacy chains, while decreasing preferred status at independent pharmacies. This results in lower co-pays for patients at the preferred pharmacy.
Independent pharmacies may be at risk of losing business if they do not take an active role in the Medicare enrollment conversation.
How Can My Independent Pharmacy Keep Patients Informed about Medicare Open Enrollment 2022?
Do you share content via email, on social media, in print, or by other methods with your patients? Begin by including information about Medicare Open Enrollment 2022 and reminders into your existing independent pharmacy content.
You can share newsletters, blog posts, news articles, and social media posts that tell patients about their Medicare plan options. Be sure to explain what to expect during the open enrollment period. Add informational content to your pharmacy website with a resources page or banner.
Where Else Can I Find Information About Medicare Open Enrollment 2022?
More information can be found on the official Medicare website here.