Tips for the Medicare Annual Enrollment Period: Make the Most of Your Options

The Medicare Annual Enrollment Period runs from October 15th - December 7th every year. This is your opportunity to review and make changes to your Medicare coverage. With so many plans and updates, here are some tips to help you navigate the Medicare Annual Enrollment, AEP, and choose options with the benefits you deserve.

1. Review Your Current Coverage

   • It is essential to understand your current coverage under your current Medicare plan. You must consider any changes, premium increases, network changes, prescription drug formulary changes, out-of-pocket costs, etc.

   • Plans change benefits and coverage every year. Now is the time to work with a licensed agent to ensure you have the right plan for your needs.

2. Watch for Scams

   • Be vigilant and understand that unsolicited phone calls or emails offering Medicare assistance may not be what you think. Only use official Medicare resources. Ask your licensed agent for their company details, license number, and website so you can look up their information.

3. Compare New Plan Options

   • Every year, Medicare Advantage and Part D plans make significant changes, introduce new benefits, change premiums, adjust formularies, and more.

4. Evaluate Your Health and Prescription Drug Coverage Needs

   • Your healthcare needs could change each year. Consider any recent diagnoses, anticipated medical expenses, and new prescriptions. Ensure the new plan you choose covers your healthcare providers, medications, and any special needs you may have.

5. Take Advantage of Preventative Care

   • AEP, the Medicare Annual Enrollment Period, is a good reminder to take advantage of wellness visits, screenings, and vaccines to help keep you healthy. You can do this since Medicare covers a variety of preventative screening services at no additional costs.

6. Understand Out-of-Pocket Costs

   • Medicare plans are NOT one size fits all. Don't focus only on the premiums, copays, or deductibles. Depending on your situation, dropping a Medicare Supplement and entering a Medicare Advantage Plan may be your best financial option.

7. Seek help from a Medicare Advisor

   • Navigating Medicare can be confusing. There are so many options, solicitations, commercials, and other sources of conflicting information. When you work with a licensed Medicare Advisor, they will point you in the right direction and ensure you are in the best plan for your needs each year. The Bedrock Group has an entire division, Senior Solutions, providing everything you need, from Medicare to retirement planning. We ensure our clients have all the information they need to make an informed decision, not one time but year over year.

     
     

Schedule Appointment

The Medicare Annual Enrollment period is your opportunity to ensure you have the best plan for your needs. Remember, with Medicare, one size does not fit all. A plan that someone complains about might be a good fit for you, while a plan that someone raves about may not suit your needs. Finding a good advisor is just as important as following the abovementioned tips.

We are here to help.

We are here to assist you with your Medicare needs, retirement planning, and other services. Keep reading to discover how we can support you and your family.

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Want to know more?

At The Bedrock Group, we're a Veteran and First-Responder-owned full-service insurance agency. We provide complimentary consultations and no-cost Medicare reviews. Our home office is located in New Albany, IN. We have a Senior Resource Center in Stanford, KY, and another office coming to Asheville, NC. We also offer the following services:

• Life Insurance

• Wealth Management

• Home + Auto

• Renter's + Condo + Home Insurance

• Medicare Plans

• Medicare Advantage Plans

• Medicare Supplement (Medigap)

• Hospital Indemnity

• Final Expense (burial planning)

• Mortgage Protection

• Business Insurance

• Retirement Planning

• Medicare Enrollment Help

• + More

  
  

We service over 38 states!

If you have Medicare questions, call our team at 502-200-1516.

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