AEP 2018! Navigating the Annual Enrollment Period

From Oct. 15 to Dec. 7, Medicare recipients will have the chance to change their Medicare Advantage and Prescription drug plans during the annual open enrollment period.

Medicare plans can be confusing, and choosing one is not a decision to be made lightly. As with any health care decision, it’s essential to learn all the facts before making any commitments. However, the variety of plans might make it difficult to find the right one for you, and the terminology used to describe them could complicate matters further.

Don’t choose lightly

According to the Centers for Medicare and Medicaid Services, even people who are currently on a Medicare plan that they’re happy with should review their options carefully. Plans can change every year, so you may find yourself with different coverage or new costs starting in January. If you decide that your current plan still suits your needs, you don’t have to do anything to keep it. However, you may find a better fit by shopping around.

Enrollment changes this year

Top carriers have reported that a number of Part D prescription drug plans are being consolidated, and while costs may be lower, your current coverage may have been effected.

Overall, the average Medicare premium should fall about 2 percent. Not everyone will see a drop in their premiums, though. Among the top 10 plans, no net change is expected, since large reductions in some plans will be offset by increases in other plans. Just among the 10 most popular plans alone, premium changes range from 50 percent increases to 30 percent reductions.

Navigating the waters of enrollment season can be time-consuming and frustrating. My Senior Health Plan exists to do the heavy lifting for its members by clearly spelling out the changes and options available to each individual. Now is the time to put our agents to work in selecting the right plan for your needs. Call 877-255-6273 to book your free consultation with a Medicare expert today.

Pete Blasi