The Medicare Annual Election Period (AEP) runs from October 15 to December 7. This is when you can join a new Medicare plan or make changes to an existing plan. Unless you experience a qualifying event, this is the only time of year when you can change your Medicare plan. This is why it’s important to fully review your Medicare plan now, and make changes if needed.
Why You Should Review Your Medicare Plan During AEP
Plan Benefits May Have Changed
Each Medicare plan offers different benefits, and those benefits may change from year-to-year. Even if you don’t intend to change your plan, it’s important to review your Annual Notice of Change (ANOC) and the details of your plan.
Your Needs May Have Changed
If you’ve had any changes to your health or needed level of care in the past year, a different Medicare plan may work better for you. If your health is the same, looking closely at your plan details will tell you whether you have benefits you don’t need, or need benefits you don’t have.
New and More Affordable Options May Be Available
Services offered, covered provider networks, and total costs differ between plans. It’s a good idea to review your plan as well as others, to see if you could find better coverage or lower out-of-pocket costs.
Do you want help reviewing your plan? Twin City Underwriters is here for you! Call us toll-free at 1-800-507-6778 to schedule an appointment with one of our agents.
Choosing a Medicare plan can be difficult. Working with an insurance broker can help you find a plan that fits your needs. Schedule a one-on-one meeting with one of our insurance brokers to get your insurance questions answered!