Before You Make a Medicare Change - A Reference Guide for Medicare's Annual Enrollment Period
Medicare's Annual Enrollment Period is a valuable time to review your coverage and ensure it still fits your healthcare needs and budget. This guide outlines key questions to ask about provider networks, prescription drug coverage, costs, supplemental benefits, and plan options. With the right information and guidance, you can make confident decisions, avoid costly mistakes, and protect yourself from fraud.
Here's one suggestion: clip this article and keep it handy. Put it on your refrigerator or tuck it into the folder where you keep your Medicare information. When your Annual Notice of Change arrives in late September, and especially when you meet with your Medicare advisor between October 15 and December 7, you'll have a ready-made list of questions to help guide the conversation.
Questions to Take With You
· Has anything changed in my current Medicare plan?
· Are my doctors and hospitals still in the network?
· Are all of my prescription medications still covered, and have any of the costs changed?
· Has my monthly premium, deductible, or maximum out-of-pocket amount changed?
· Is my preferred pharmacy still considered an in-network or preferred pharmacy?
· Have any dental, vision, hearing, transportation, or other supplemental benefits changed?
· Are there other plans available in my county that may better fit my current health needs and budget?
· Based on my current health situation—not last year's—would you recommend I stay where I am or consider another option?
Over the past 25 years, I've found that people who arrive with questions almost always leave with greater confidence. The appointment becomes a conversation rather than a sales presentation.
Whether you work with me or another licensed local insurance professional who represents multiple Medicare carriers, bring this list with you. Use it as your outline. Ask every question until you're comfortable with the answers.
I've had the privilege of helping Medicare beneficiaries for more than 25 years—beginning several years before Medicare Advantage and Part D prescription drug plans even existed. During that time, I've learned that the best Medicare decisions are rarely made because of a television commercial or a national call center. They come from taking the time to understand your local options and asking questions of someone you trust.
One point I cannot emphasize enough is this: there is generally no separate cost to you for working with a licensed Medicare agent to help evaluate your Medicare Advantage or Part D options. Take advantage of that resource. Ask questions. Compare your choices. Find someone you trust who will take the time to help you make an informed decision.
An informed Medicare consumer is the best defense against confusion, costly mistakes, and fraud.
Author, Will Corporon - Corporon Insurance & Financial Services
