Fall means many things: cooling temperatures, much-needed rain, a new school year, and Medicare’s Annual Enrollment Period.
While the temperatures are refreshing and the school year exciting, Medicare’s AEP can bring confusion, misinformation, and countless spam calls to many seniors.
Below I’ve shared what I send to my clients as the AEP season begins. I hope this quick summation brings you clarity about what options you have this year.
“Dear Valued Clients, Plan Medigap helped you enroll in your Medicare Supplement, and we hope it’s been beneficial to you and your family. During Medicare’s Annual Enrollment Period, you might have questions as to what, if anything, needs to change.
Here are a few helpful tips as we enter Medicare’s enrollment season:
Medicare Supplement Policyholders (i.e., Plan F, G, N) do not need to change or renew their coverage. There is no action you need to take.
Part D prescription plans may be enrolled, canceled, or changed between October 15 and December 7. Any changes take effect on January 1st. Your current plan will send you an “Annual Notice of Change” detailing ALL changes. If there are increases or changes to your formulary, this is typically how they notify you.
Seniors enrolled in Medicare Advantage Plans have an opportunity to make changes to their plan (this is a different plan than a Medicare Supplement). Call us at (800) 750-2407 and we can assist you in making any changes!
If you make no changes, generally your plans will rollover (unless the carrier is removing it from the market, in which case you will be notified).
A Word of Caution: This time of year, you’ll be inundated with TV advertisements, call center spam, letters, etc. – all telling you that your current plan is not sufficient or that they can offer you the next best thing. If it seems too good to be true, it usually is. Some of the plans you see on TV are for people on Medicaid (low income), but are advertised simply to generate a phone call, where they’ll pitch you something else. It’s a classic bait and switch scheme! Don’t be fooled.
Lastly, if you find yourself giving out your Medicare number over the phone, you need to assume you are being enrolled in a new plan, even if they tell you otherwise. There are very savvy call centers that are simply looking to enroll you in a new plan, collect the commission, and run. Please be careful and don’t hesitate to check with me before you make changes.
If you have any other questions regarding your Medicare Supplement, please contact our office and we will be happy to assist you! 800-750-2407.
As the advertisements start running and the calls pour in, if you have questions about your coverage, please reach out to us. We would love to help you talk through options and find the plan that is truly best suited to your needs. Our services are free to you. You may visit us at 2604 Long Prairie Road, Suite 100 in Flower Mound or simply call us at 800-750-2407.
God Bless.
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