It’s that time of year again. It is not just the holidays that are upon us, but Medicare Open Enrollment (A.K.A. Annual Election Period or AEP).
Many people have a ton of questions during this time. Is my coverage going to change? Will my Medicare plan go away? Do I have to do anything? We get asked these questions more than any other this time of year. Depending on your situation you have some options.
Will I Lose My Medicare Insurance During Open Enrollment?
Now is the time to look at your Medicare Plan, whether you have Medicare Advantage or a Medicare Supplement Plan. During your annual enrollment period from October 15 to December 7th, you can choose a new Medicare plan or Part D prescription drug coverage.
It’s a good idea to shop around for a new plan, even if you’re happy with your current coverage. This is because premiums, covered medications, and out-of-pocket costs for many plans can change each year. Now, while you’re always automatically renewed in the same plan from one year to the next, simply comparing new plans can often save you money and out-of-pocket costs.
Remember, your open enrollment window is quickly closing. No matter which plan you have now is the time to review your options. And the best part is, our services are always at no cost to you. You can contact us by phone or send us a private message and we’ll be glad to speak with you directly and answer any questions you may have.
