During the Medicare Annual Election Period (AEP), you can modify your health insurance coverage. From October 15 to December 7, eligible beneficiaries who have a Medicare Advantage plan may unenroll and resume their Original Medicare coverage. Likewise, those who rely on Original Medicare can switch to the Medicare Advantage plan if they wish. If you’re planning on modifying your coverage during the upcoming AEP, here are a few tips to keep in mind before getting started.  

Do:

Talk to a professional. 

Weighing the pros and cons of government-run Original Medicare versus the privately-run Medicare Advantage plan can be challenging if you’re not familiar with all that each entails. While they both cover in-patient and out-patient care, Medicare Advantage may offer access to vision and dental coverage as well. However, it limits what doctors you can see, among other restrictions. Talk to a seasoned and reputable agent for further understanding of their differences.  

Review recent changes. 

Medicare’s various arrangements and benefits change every year. Some years, there are only a few small changes implemented, whereas, during others, the entire system is essentially revamped. An agent can explain the applicable changes that will go into effect next year. 

Don’t:

Trust those who come to you.  

Insurance agents must follow strict guidelines when enrolling clients in Medicare. For example, they cannot simply go door to door advertising their services. Be wary of anyone who approaches you in an unsolicited manner, as they may be violating the law. You should also avoid working with anyone who will charge you a processing fee or offers cash in exchange for your enrollment, as these are unscrupulous practices. 

Assume automatic eligibility. 

Every plan has specific eligibility requirements. Before attempting to modify your coverage during the AEP, confirm that you’re actually entitled to enroll in the new plan under consideration. 

If you need help navigating the Annual Election Period this year, turn to Brent Layton. Based in Tremonton, UT, this seasoned insurance agent has been serving seniors throughout Box Elder County for the past 25 years. Whether you want to enroll in a Medicare Advantage plan or buy coverage to help your family pay for your final expenses, he can help. To reach out, visit his website, call (435) 257-3829, or send him an email.