As the Medicare Annual Enrollment Period (AEP) approaches from October 15 to December 7, beneficiaries are gearing up for a period of changes that could impact their coverage and costs. However, navigating AEP doesn’t have to be stressful. Here are some tips to help you make the most of this crucial time:
1. Review Your Current Plan
Take the time to review your Annual Notice of Change letter, which typically arrives in September. This letter will detail any key changes to your current plan, such as costs, doctor networks, pharmacy options, and additional benefits. Understanding these changes can help you determine if your current plan still meets your needs.
2. Compare Your Options
Medicare Advantage and Part D prescription drug plans can vary greatly. Use this time to compare plans and assess how they align with your prescription needs, preferred doctor networks, medical facilities, and budget. Comparing plans can potentially save you money and ensure you have coverage that suits your health and financial situation.
3. Use Available Resources
If the process of comparing plans feels overwhelming, don’t worry. There are resources available to assist you. Platforms like eHealth offer user-friendly tools to compare a variety of plans from top insurance companies online or over the phone. According to a recent study, Medicare Advantage enrollees who compared plans through eHealth could save an average of $1,100 per year on medical bills and prescriptions with a lower-cost plan.
4. Get Help from a Professional — For Free
Licensed insurance agents can provide personalized assistance at no cost to you. They are well-versed in different plans and can help match you with one that best fits your needs. A survey by eHealth found that beneficiaries who work with an agent feel more confident in their plan selection, with 66% feeling “very confident.” Remember, agents are paid the same for similar plan types, and there is no obligation to enroll. Their goal is to help you find the best fit.
5. Don’t Procrastinate
While it may be tempting to put off your decision, waiting until the last minute can lead to rushed choices that may not be in your best interest. Take the time early in the AEP period to review your options, consult with an agent if necessary, and make a confident decision.
This year, approach your insurance plan coverage with confidence. To learn more, compare plans, and get help from a professional licensed insurance agent and benefits advisor, please visit eHealth at www.ehealth.com or call 844-373-9751, TTY 711.