Are you currently enrolled in Medicare? People age 65 or over qualify for Medicare – whether or not they have filed for Social Security benefits.
Every year Medicare has an open enrollment period for those already enrolled in Medicare. For 2016 it is October 15 – December 7. So what is the Medicare Open Enrollment Period and why should you care?
Every year Medicare health and drug insurance plans can make changes. Things like premiums, medical and drug coverage, and what doctors, providers and pharmacies are in their networks.
As both the insurance market and your own health changes over time, it’s in your best interest to shop for the best coverage every year. For instance, you might find it to your benefit to switch from Original Medicare – Part A for hospital coverage and Part B for doctor visits to a Medicare Advantage plan from a private insurer. Or it might be more advantageous to completely switch from one Medicare Advantage plan to another or move among Part D plans for prescription drug coverage.
It’s not always a good idea to change plans… BUT it is always a good idea to shop around and see what your new options are. Maybe your health has changed and you are on different medication. Maybe you have a new medical condition or are using a new specialist. You could potentially save hundreds or thousands of out-of-pocket costs with a new plan that is better suited to your current health.
October 15 to December 7 is when all people on Medicare can change their Medicare health plans and prescription drug coverage for the following year to better meet their changing personal needs. Everyone has the ability to switch plans with no evidence of insurability. NO exams. NO health questions.
How do people know if it’s in their best interest to change their plan?
People in a Medicare health or prescription drug plan should always review the materials their plans send them, like the “Evidence of Coverage” (EOC) and “Annual Notice of Change” (ANOC). Even if their plans are not changing, they should make sure their plans will still meet their current medical needs for the following year. If they are satisfied that their current plans will meet their needs for next year and it’s still being offered, they don’t need to do anything.
Most of you know that I do NOT sell any Medicare-type plans — never have! BUT I do have a longtime client and friend that this is his specialty. His agency has 1,000’s and 1,000’s of Medicare clients. If you live in GEORGIA and want an independent and reliable source to see if keeping what you have or making a change is best for you, you can call Keith Nabb’s agency at 770-945-5261 or visit his agency’s website: www.AffordableMedicareSolutions.com
One of his personally trained team members will help you objectively look at all of your options and help you make a wise choice.
His agency does not market just one insurer like so many agents and insurers who advertise at this time of year do. It is an independent agency that works with multiple carriers. They will help you sort out your options and make the best choice based on your own health, the prescriptions you use, desired doctors, etc.
I also want you to know that like EVERY other referral that I might make for ANY financial or legal service, Keith and I have no “arrangement” – no commission split, no kickbacks, no quid pro quid of any kind.
If you do not live in GEORGIA or want to call someone else, whoever you contact, make sure they truly represent more than 1-2 insurers as well as being an experienced specialist in this field. Most importantly – commit to yourself to shop for this coverage each and every year to ensure the best policy that suits YOU as the insurance marketplace and your changing medical needs may dictate!
All the best… Mark