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A12 BUSINESS
Friday 14 OctOber 2022

How to change Medicare plans — and

why you might want to

By KATE ASHFORD of Nerd-
Wallet
Medicare open enroll-
ment starts soon, but 7 in 10
Medicare beneficiaries say
they don’t compare Medi-
care plans during this pe-
riod, according to a 2021
analysis by KFF, a health
policy nonprofit.That’s not
great, since Medicare Ad-
vantage plans which op-
erate much like the private
insurance you may have
had through an employer
change from year to year. This Nov. 8, 2018 file photo shows a page from the 2019 U.S.
One of your doctors may Medicare Handbook in Washington. Associated Press
have fallen out of network
or your prescription drug rollment from Oct. 15 to each year to switch plans
prices may have gone up. Dec. 7 is your opportunity or go back to Original
And people with Original to change coverage. You Medicare and sign up for a
Medicare should compare can switch from Original Medicare Part D drug plan.
their Part D prescription Medicare to Medicare Ad- CONSIDER PRESCRIPTION
drug coverage. vantage, or vice versa, or DRUGS
Here’s how to approach enroll in or change Medi- If you’re on any prescrip-
switching Medicare plans. care Part D prescription tion medications, under-
TAKE ADVANTAGE OF EN- drug plans. If you have stand how your current
ROLLMENT PERIODS Medicare Advantage, you plan will cover them in
can also use Medicare Ad- 2023 and whether an-
If you have a Medicare vantage open enrollment other plan might be more
plan, Medicare open en- from Jan. 1 to March 31 affordable.q

IMF chief urges aggressive fight against

soaring inflation

AP Economics Writer store price stability, we will
WASHINGTON (AP) — Warn- undermine prospects for
ing that inflation threatens growth,’’ she said, adding:
to become “a runaway “We cannot possibly allow
train,’’ the managing di- inflation to become a run-
rector of the International away train bad for growth,
Monetary Fund urged poli- bad for people, bad espe-
cymakers to keep up the cially for poor people.”
fight against rising prices The Federal Reserve and
even it means more pain other central banks have
at a time of extraordinary been raising interest rates
By PAUL WISEMAN economic turmoil. Speak- to tame inflation. on Thurs-
International Monetary Fund ing to reporters Thursday, day, the U.S. reported that
Managing Director Kristalina the IMF’s Kristalina Geor- inflations accelerated in
Georgieva speaks during the gieva said that the world September, with the cost of
2022 annual meeting of the economy “has been hit housing and other neces-
IMF and the World Bank Group by one shock after anoth- sities intensifying pressure
in Washington, Wednesday,
Oct. 12, 2022. er” the coronavirus pan- on Americans. Consumer
Associated Press demic, Russia’s invasion of prices rose 8.2% compared
Ukraine and a resurgence with September of last year.
of inflation. “If we do not re- Georgieva acknowledged
that the higher borrowing
costs would pinch eco-
nomic growth, but she
urged policymakers to
show restraint in spending
money to ease the pain.
“When monetary policy
puts a foot on the brakes,”
she said, “fiscal policy
should not step on the
accelerator.”q