Medicare Open Enrollment is one of the most important times of the year for anyone enrolled in Medicare. Open Enrollment is October 15th through December 7th, every year. During Open Enrollment, beneficiaries will have the opportunity to review their current coverage, compare available options, and ensure their healthcare plans continue to meet their needs. This time is for those who already have Medicare, not for those who are new to Medicare.
- Review Current Coverage
The first step to preparing for Open Enrollment is to review current coverage. Members should carefully check whether their doctors and preferred hospitals remain in-network, whether prescriptions are still covered, and whether premiums or copayments have changed. Every September, there is one piece of Medicare mail sent out to members that contains lots of important information. It is called the Annual Notice of Change (ANOC), and it comes from their current Medicare plan provider. It outlines any updates to plan benefits and costs. When reviewing the ANOC, one should check for changes to the monthly premium, deductible, and out-of-pocket maximum. It is also important to review any updates to copayments, coinsurance, and provider networks. Those with Medicare Part D should note changes to drug coverage or pricing.
- Assess Healthcare Needs
Next, members should assess their current healthcare needs. Healthcare needs rarely stay the same from year to year. Members should review how their health has changed over the past twelve months. Starting a new prescription, managing a chronic condition, or planning a surgery are all things that should be noted when preparing for Medicare Open Enrollment. Lifestyle factors are also important too. Frequent travelers may need broader provider networks, while others may prefer extra benefits like dental, vision, or hearing. Major life events, such as a spouse becoming eligible for Medicare or adding a dependent, can also influence which plan is the best fit.
- Compare Plans and Costs
Next, members should compare plans and costs. The monthly premium is often the first number people look at, but it only tells one part of the story. Not all plans are created equal, and the lowest monthly premium does not always equal the best overall value. A common mistake when preparing for Open Enrollment is doing nothing at all. Sticking with the same plan without reviewing changes can result in unexpected costs and limited access to providers. It is also important not to solely focus on premium costs while overlooking coverage details, which can lead to gaps in coverage.
- Get Trusted Advice
Medicare Open Enrollment can feel overwhelming, but they do not need to navigate it alone. At Avery Hall, our experienced agents provide one-on-one consultations to ensure that everyone makes informed and confident decisions. Every person’s health, lifestyle, and budget are different. Our agents help craft solutions that are unique to the person’s needs rather than one-size-fits-all. We also host free Medicare educational events where individuals can learn in a relaxed, no pressure environment. Attendees can learn about plan options, ask questions, and gain the knowledge they need to make informed decisions.
Contact one of our experienced Avery Hall agents at 410-742-5111 for Salisbury, 410-822-7300 for Easton, and 302-316-6565 for our Selbyville office.