Each year Medicare beneficiaries have the opportunity to change Medicare plans during Medicare Annual Open Enrollment (AEP). The enrollment period is fairly generous – between October 15 and December 7 – to allow time for kupuna to review changes coming to their current plans and all their plan options. Going over any current plan changes and evaluating your new options during Medicare open enrollment is very important because health plans change from year to year. It is also the best way to make sure that you are on the right plan for your current needs; your health status, prescription medications, and budget may all be different this year than they were last year.
While AEP is a busy time for Medicare agents, a new study by Kaiser Family Foundation revealed that a surprising seven out of 10 seniors did not review their options during the last AEP. That means that 70% of seniors risked losing out on a plan that could better suit their needs. If you have missed out on the chance to review your Medicare options during AEP in the past, we encourage you to schedule an appointment with one of our knowledgeable Medicare agents as soon as possible. We are here to help and our services are always free of charge.
Study Finds More Seniors Should Take Advantage of Annual Open Enrollment to Explore their Medicare Options
If you were not part of the 30% of Medicare enrollees who reviewed their Medicare plan during Annual Open Enrollment period last year, you may have spent more than you needed to on your Medicare plan or at the very least experienced an unpleasant surprise when plan changes kicked in last January.
Changes to Medicare Advantage Plans to look out for include: