How do I know if I need to make a change during the Medicare Annual Election Period (AEP)?
Prior to the AEP, which runs from October 15 to December 7, your plan carrier will send you an Annual Notice of Change (ANOC).
The ANOC, typically mailed at the end of September, details if and how your plan will change for the upcoming year. Changes may include premium, deductible, or coverage. It’s important to review this document, along with your current Evidence of Coverage (EOC) to determine if any changes for the coming year affect your needs.
With major market changes in 2024 and how the Inflation Reduction Act impacts on Part D prescription drug plans, changes may warrant a plan review and comparison of other plans available in your area.
Another reason to review your ANOC, as well as your Evidence of Coverage (EOC), is because your needs may have changed.
During an annual review with your agent, make them aware of any medical changes, physician changes, hospital preferences and most importantly, provide a list of all current medications. Having this information ready for review during AEP helps your agent research, quote, and compare plans and if you choose, can make the transition to a new plan a simpler process.
Haven’t used a Medicare Agent? Using a fully licensed and certified Medicare specialist does not cost you any more. In fact, using a Medicare agent often cost less by ensuring that you are in the correct plan for you. Remember, what is best for your neighbor may not be the best for you. In fact, we often find spouses are better with different carriers and plans based on their medications.
For a full Medicare plan review, contact Lori Good at Beck Insurance Agency in Archbold or Whitehouse, Ohio. Call 419-446-2777, send an email to help@beckinsurance.com, or click here to submit your request.
