It’s almost that time of year again when anyone enrolled in Medicare can make changes to their current Medicare coverage. This is known as the Medicare Annual Enrollment Period (AEP) and will start on October 15 and end on December 7. AEP is the only time during the year someone on Medicare can make changes to their Medicare plan to ensure they’re getting the coverage that works best for them.
We understand that this time can be quite stressful for many Medicare members, but El-Mag Insurance is here to help take the stress off! Here are some tips you can follow to prepare for the Annual Enrollment Period.
Review Your Notices
Before the Annual Enrollment Period begins, you should receive notices in the mail regarding your current coverage and what will be changed in the upcoming year. These notices are the Annual Notice of Change (ANOC) and Evidence of Coverage (EOC).
The ANOC is sent out by either your Medicare Advantage carrier or Medicare Part D carrier. The letter will explain the details of the coverage that your specific plan will be providing in the upcoming year. It’s important to review this letter carefully as there could be major changes included.
The EOC will also be sent by your plan explaining what your plan covers and what you will pay.
After reviewing these notices and seeing if any changes are made, you may come to realize that there will be some significant changes to your plan. If this is the situation you could find yourself in, ask yourself some question to determine if you should still stick with this plan:
- What coverage was changed?
- Will the costs be increasing?
- Will this plan still meet my needs?
- Can I still use my preferred healthcare provider or pharmacy?
- Can I find another plan that offers the same coverage but for a cheaper rate?
Asking questions like these can make it easier for you to prepare for the Annual Enrollment Period if you need to utilize it.
Work with El-Mag Insurance
When you work with El-Mag Insurance, you’ll get peace of mind as we help you compare your Medicare options to ensure you get the plan that fits your coverage needs.
If you are curious about your options for Medicare coverage in Florida, get in touch with a qualified insurance agent at El-Mag Insurance. We can help you discover what Medicare has to offer. Give us a call at 954-665-7228 to get started with a free quote and consultation.