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Are You Ready For Annual Enrollment?

The Annual Enrollment Period is quickly approaching. This is the period of time where you can make changes to you Medicare coverage. Between October 15th and December 7th every year, you may join, drop, or switch Medicare Prescription Drug and Medicare Advantage plans. You may also choose to revert back to original Medicare Part A and B and leave third party coverage altogether. The changes you make will be effective for the following year, so it is very important that you make sure that you are satisfied with any changes you plan to make. Weighing your option in Medicare is difficult, especially when you are altering an existing Medicare plan. We at Medicare Solutions have put together a short list of questions to help you evaluate your current plan. That way you can make any necessary changes with confidence.

  • Are your monthly medications the same or have others been added that could possibly put you in the ‘donut hole’ sooner than expected?
  • Are you seeing the doctors you need or want to see? Are you visiting the doctor more frequently?
  • Are your copays manageable based on your habits or are they putting you over budget? Are the remaining copays after your Medicare discount still too high for your budget?
  • Are you seeing doctors that are within your network? If you are seeking treatment outside your network, how much extra is it costing you?
  • Does your plan charge a monthly premium? (In addition to your Part B premium)
  • Do you find yourself with a new diagnosis that requires extra benefits that were not included in your original policy choice?
  • Are you utilizing vision, hearing, dental and/or wellness health programs that may or may not be embedded in your policy?

If you are realizing that you aren’t satisfied with your current plan, don’t worry. You have plenty of time to explore different options and make any necessary changes. If you are not satisfied with your current Medicare Advantage plan, Prescription Drug plan, or even Original Medicare plan, then you may choose to do one of the following during the Medicare Open Enrollment Period.

  • Change from Original Medicare to a Medicare Advantage Plan.
  • Change from a Medicare Advantage Plan back to Original Medicare.
  • Switch from one Medicare Advantage Plan to another Medicare Advantage Plan.
  • Switch from a Medicare Advantage Plan that doesn’t offer drug coverage to a Medicare Advantage Plan that offers drug coverage.
  • Switch from a Medicare Advantage Plan that offers drug coverage to a Medicare Advantage Plan that doesn’t offer drug coverage.
  • Join a Medicare Prescription Drug Plan.
  • Switch from one Medicare Prescription Drug Plan to another Medicare Prescription Drug Plan.
  • Drop your Medicare prescription drug coverage completely.

Are you satisfied with your Medicare plan? Are you having second thoughts about your current coverage? Let us know in the comments section!


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