Health

Medicare Annual Open Enrollment Period 2023: 7 Costly Mistakes to Avoid

Published

1 year ago

December 12, 2023

Medicare’s Annual Enrollment Period (AEP) is a crucial time for retirees, running from October 15th to December 7th, 2023. It offers an opportunity to review and adjust your Medicare coverage to better align with your healthcare needs. However, many people inadvertently make mistakes during this period that can affect their health and financial well-being. In this article, we will delve into the significance of the AEP and shed light on seven common mistakes to steer clear of for the Medicare open enrollment period 2023 of this year.

Understanding the Medicare Annual Enrollment Period

The Medicare Annual Enrollment Period, or AEP, is an annual window from October 15 to December 7 when individuals with Medicare can make changes to their plans. During this time, you have the flexibility to choose between Original Medicare or opt for a new Medicare Advantage plan. Additionally, you can modify your prescription drug coverage through Medicare Part D.

Mistake 1: Not Reviewing Your Current Plan

One of the most common mistakes retirees make is assuming that their current Medicare plan will remain unchanged. In reality, plans can undergo significant alterations from year to year. To avoid this pitfall, it is imperative to thoroughly review your existing plan. Assess whether it still meets your healthcare needs and financial expectations.

Mistake 2: Overlooking Prescription Drug Coverage

Failing to review your prescription drug coverage can lead to unexpected expenses. Drug formularies, which list the medications covered by your plan, can change annually. Neglecting to check these updates may result in higher out-of-pocket costs or the realization that your essential medications are no longer covered.

Mistake 3: Ignoring Changes in Healthcare Needs

Your health status can evolve. Ignoring these changes can lead to missed opportunities for benefits that align better with your evolving health requirements. Conversely, it might lead to unnecessary expenses by paying for coverage you no longer need. Regularly assess your healthcare needs to ensure your Medicare plan remains suitable.

Mistake 4: Not Exploring Other Plans

Many retirees limit their exploration of alternative Medicare plans. AEP presents an ideal opportunity to investigate different choices and find a plan that may be more affordable or better suited to your preferences and health requirements.

Mistake 5: Disregarding Network Changes

Medicare Advantage plans often involve networks of healthcare providers, including doctors, hospitals, and specialists. These networks can change, and your preferred healthcare professionals may no longer be in-network. This oversight could result in higher costs or necessitate finding new healthcare providers.

Mistake 6: Focusing Solely on Premiums

While premiums are a vital cost consideration, fixating solely on this aspect can be misleading. Plans with low premiums may come with higher deductibles and copayments. It is crucial to evaluate the comprehensive cost of a plan, including potential out-of-pocket expenses, to determine its true affordability.

Mistake 7: Procrastinating

Delaying your Medicare plan changes until the last minute during the AEP can lead to missed opportunities and rushed decision-making. To make informed choices that align with your healthcare needs, initiate the process early, allowing ample time for research, decision-making, and enrollment.

Navigating the complexities of the Annual Enrollment Period can be challenging and time-consuming. At Exact Medicare, we are dedicated to guiding you through the process to ensure you select the right plan tailored to your unique healthcare needs. Don’t hesitate to reach out to us at 380-242-2006 or schedule an appointment at ExactMedicare.com for expert assistance. Your health and peace of mind are our top priorities during the Medicare AEP.

Health

What Sets Why Not Natural Supplements Above Other Supplements Companies in the U.S.

Published

1 month ago

November 21, 2024

Michelle Langton

Photo courtesy of Why Not Natural

By: Georgette Virgo

In an industry plagued by minimal regulation and questionable practices, Why Not Natural Supplements sets a new standard in transparency and scientific excellence. Founded by chemical engineer Kelin Marquet, this female-owned supplement company challenges the status quo with clean and effective formulations backed by rigorous research.

Why Not Natural Supplements’ outlook on supplement creation contrasts starkly with many competitors in the $50 billion U.S. dietary supplement market. The Food and Drug Administration (FDA) does not require pre-market approval for supplements, which leaves consumers vulnerable to potentially ineffective or harmful products. Why Not Natural Supplements has implemented stringent self-imposed standards that go far beyond regulatory requirements.

“We’re on a mission to educate consumers about what a supplement should look like,” says Kelin Marquet. “As a mother of three, I’m motivated by creating supplements that I feel comfortable giving to my own family.”

A Science-First Approach to Supplement Formulation

Why Not Natural Supplements’ commitment to scientific integrity begins with its founder. Marquet’s background in chemical engineering informs every aspect of the company’s product development process.

“I use my background and strong understanding of science to pore through research articles and choose active ingredients that work – not cheap substitutes you usually find in supplements,” Kelin Marquet explains.

This science-first perspective extends to the company’s use of bioavailable forms of nutrients and its emphasis on third-party testing. Why Not Natural Supplements rigorously tests every product—including their best-selling Organic Vitamin D3 Liquid Drops with K2, 4-in-1 Magnesium Complex, Liquid Vitamin A (10,000 IU) with Coconut MCT Oil, and many others—for purity and potency. This practice sets the company apart in an industry where such thorough quality control is far from standard.

Transparency and Clean Formulations

Why Not Natural Supplements’ transparency is evident in its viewpoint on ingredient selection and labeling. The company maintains a list of ingredients that will never appear in its products, including artificial preservatives, colors, flavors, and common allergens.

“It’s not just about what’s in a supplement – it’s essential what’s not in it, too,” Marquet emphasizes. This philosophy extends to the company’s use of clean, minimalist formulations that avoid unnecessary fillers and additives.

The company provides consumers with clear, accurate information about each product’s contents. This level of transparency is rare in an industry where, according to the National Institutes of Health, supplement labels may not always accurately reflect the product’s contents.

Kelin Marquet emphasizes that each product formulation undergoes rigorous scientific scrutiny, with every ingredient serving a specific, research-backed purpose. “We don’t just throw ingredients together because they’re trendy,” Marquet explains. “Every component in our formulas is there for a reason, in its most bioavailable form, and at the optimal dosage.”

Education and Consumer Empowerment

Why Not Natural Supplements’ mission extends beyond creating high-quality supplements to educating consumers about supplement quality and safety. The company uses its social media platforms and website to provide in-depth information about ingredient sourcing, manufacturing processes, and the science behind its formulations.

This educational outlook is particularly crucial in light of the rapid growth of e-commerce in the supplement industry. As online sales platforms capture an increasing market share, the traditional role of natural and specialty retailers as information gatekeepers is diminishing. Why Not Natural Supplements is stepping into this gap, providing consumers with the knowledge they need to understand dietary supplements and find one that best fits their needs.

“We’re not just selling supplements,” Marquet states. “We’re empowering consumers to make informed decisions about their health by showing them exactly what goes into each formula and why.”

In an industry where regulation is minimal and quality can be inconsistent, Why Not Natural Supplements stands out as a company committed to raising the bar through its science-based method, commitment to transparency, and focus on consumer education.

“Our goal is to change how individuals see natural supplements,” Marquet concludes. “We believe that by prioritizing quality, efficacy, and transparency, we can help consumers reclaim their health and trust in their supplements.”