Next year, the annual out-of-pocket cap for Medicare prescription drugs will increase by $300. However, by carefully comparing insurance plans and utilizing government drug assistance programs, beneficiaries can significantly reduce their actual costs.
Because deductibles, prescription drug copays, and covered medications vary significantly depending on the insurance company and specific plan, it is crucial to check not just the premium, but also whether the medications you are currently taking are covered and what the pharmacy usage conditions are.
An event designed to address the questions of Korean American seniors all in one place—ranging from these changing insurance benefits to healthcare and retirement finances—drew an enthusiastic response.
Hosted by The Korea Daily and title-sponsored by Seoul Medical Group (SMG), the ‘3rd 2026 Senior Retirement Expo’ was held on the 24th at the Saenuri Church of Southern California. The venue was packed with Korean American seniors looking to check next year’s Medicare and Medi-Cal benefits and consult on retirement financial issues such as annuities and Individual Retirement Accounts (IRAs).
Particular interest was focused on next year’s insurance plan benefits and medical facility utilization conditions. Enrollees need to verify whether their current primary care physicians and specialists are included in the insurance network, and how copays, dental, vision, and hearing benefits will change.
Michelle Kim, 73, a resident of LA’s Koreatown, said, “I came because I was curious about how next year’s insurance plans would change, and I was able to gather information I didn’t know by looking through various insurance guide materials in one place.”
At the insurance consultation booths, questions regarding the differences between existing insurance and new plans continued. Clever Care Sales Manager Michael Choi explained, “There were many seniors looking to compare insurance benefits, with a particular focus on available hospitals and medical staff.”
Shelly Yoon, 78, said, “I learned that there are new plans available beyond the insurance I already knew about, and I plan to take the materials home and carefully compare the benefits.”
Grace Jung, 75, visiting from Laguna Woods, shared, “It’s been close to 10 years since I retired, but the insurance system is still complicated and difficult. It was very helpful to learn which insurance I should sign up for and what benefits I can receive.”
Booths offering health status checks alongside insurance consultations were also popular. SMG operated two booths for internal medicine and traditional Korean medicine.
Dr. Ja-yoon Choi, an internal medicine specialist, advised, “Many seniors are not properly taking care of their basic health management. For a healthy old age, we must carefully look into regular checkups and vaccinations first.”
Dr. Jason Oh, an oriental medicine doctor, conducted pulse and tongue diagnoses as well as muscle resistance tests. Dr. Oh stated, “I checked their health status and uncomfortable symptoms, and also provided guidance on daily health management methods such as diet and sleep.”
Around 20 organizations participated in this expo, including SMG, UnitedHealthcare, UCLA Health, Clever Care, Alignment Health Plan, and Top Priority Tax, providing consultations on insurance, medical services, and retirement finances.
Jin-ho Lee, executive managing director at SMG, explained, “Seniors who are not fluent in English find it difficult to obtain information on insurance and medical services. We prepared this so they can receive consultations in Korean and check necessary benefits without having to visit multiple places.”
Nam Yoon-ho, CEO of The Korea Daily, said, “Living a long life, plans often go awry due to unexpected events. I hope that specific information regarding insurance, finances, and health will be helpful for retirement preparation.”
Meanwhile, the annual enrollment and change period for Medicare runs through December 7. The changed insurance will take effect on January 1 of next year. Beneficiaries can compare premiums, medical institutions, and prescription drug coverage ranges on the official Medicare website (Medicare.gov).
