Are You Getting Ready for Medicare’s Annual Enrollment? Here are some tips to share.
In a little over a month, we batten down the hatches, put our nose to the grindstone, and help hundreds of Medicare Beneficiaries with what is more commonly known as Open Enrollment.
October 15 – December 7, 2016 is Medicare’s Annual Open Enrollment Period. During open enrollment, current Medicare recipients and people who are new to Medicare can review and update their Medicare plan, including Part D prescription drug coverage.
Some tips for the upcoming season include:
- Review your annual notice from your insurance carrier to make sure there are no changes in coverage. If you have a Medicare Supplement, there will be no changes in benefits, but premiums may increase
- If you are enrolled in a Medicare Advantage Plan, review your Annual Notice of Coverage (ANOC) for important changes. Benefits can change such as deductibles, copayments, etc.
- Make sure your current prescription drugs will be covered in 2017. Insurance carriers are required to notify you if a drug changes tiers or is no longer covered. Drug formularies, provider networks, and copayments can change from year to year.
- Attending one of our Educational Events. We find most of your questions can be answered in our one hour course. Educational events are voluntary but very helpful.4r coverage options for 2015 because drug formularies, provider networks and plan benefits can change from year to year.
- Stay tuned for any changes the government may make. Constant chatter in Washington includes an increase in Medicare Part B deductibles, Part B premiums, and an overall increase in out of pocket expenses for beneficiaries.
As always, we thank our valued clients for their business and many referrals. The Baby Boomers are keeping us rather busy these days.