Medicare can feel overwhelming, especially when plans, benefits, and healthcare needs change from year to year. The good news is that Medicare Annual Enrollment Period (AEP) gives you an opportunity to review your current coverage, explore your options and make sure your plan still meets your needs.
At Gannon Associates Insurance, our licensed Medicare advisors are here to help make the process simple. We provide personalized guidance, answer your questions, and help you feel confident about your Medicare decisions.
What is Medicare Annual Enrollment Period?
Medicare Annual Enrollment Period (AEP) takes place every year from October 15 through December 7.
During this time, Medicare beneficiaries can review their current coverage and make changes that may better fit their healthcare needs and budget. Any changes made during Annual Enrollment typically take effect on January 1 of the following year.
Even if you are happy with your current Medicare plan, it is important to review your options each year. Plans can change annually, and what worked well for you last year may not be the best fit moving forward.
Why Should You Review Your Medicare Coverage Every Year?
Many people assume that once they choose a Medicare plan, they can simply keep it year after year. While staying with your current plan may be the right choice, reviewing your options annually can help you understand any changes that may affect you.
During your Medicare review, you can look at:
- Changes to Your Prescription Drug Coverage. Your medications may change over time, and prescription plans can update their formularies, costs, and coverage levels each year. Reviewing your plan can help ensure your medications are still covered in a way that works for your budget.
- Changes to Your Healthcare Providers. If you prefer doctors, specialists, or healthcare facilities, it is to make sure they continue to participate in your plan’s network.
- Changes to Plan Costs and Benefits. Premiums, deductibles, copays, and additional benefits can change from year to year. Reviewing these details can help you avoid surprises and better understand your coverage.
- Changes to Your Healthcare Needs. Your health needs may look different than they did when you first selected your plan. Annual Enrollment is an opportunity to make sure your coverage continues to support your lifestyle and healthcare priorities.
What Changes Can You Make During Annual Enrollment?
During Medicare Annual Enrollment, you may be able to:
- Switch from Original Medicare to a Medicare Advantage plan
- Switch from a Medicare Advantage plan back to Original Medicare
- Change from one Medicare Advantage plan to another
- Change Medicare Part D prescription drug plans
- Review available plan options for the upcoming year
Every person’s situation is different, which is why working with a knowledgeable Medicare advisor can help you understand your choices.
What Is The Difference Between Medicare Advantage and Medicare Supplement Plans?
Many Medicare beneficiaries have questions about the difference between Medicare Advantage and Medicare Supplement plans.
- Medicare Advantage Plans. Medicare Advantage plans combine Medicare Part A and Part B coverage and are offered through private insurance companies approved by Medicare. Many plans may include additional benefits, such as prescription drug coverage, dental, vision, hearing, or wellness benefits.
- Medicare Supplement Plans. Medicare Supplement plans, also called Medigap plans, help cover some of the costs that Original Medicare does not pay, such as certain deductibles, copayments, and personal preferences.
How Gannon Associates Makes Medicare Easier
Choosing Medicare coverage does not have to be confusing. Our licensed Medicare advisors are here to provide guidance throughout the process.
When you schedule a Medicare review with Gannon Associates Insurance, we can help you:
- Understand your current coverage
- Review your healthcare needs
- Compare available options
- Answer your questions
- Make informed decisions with confidence
There is no pressure to change plans. Our goal is to help you understand your options and choose the coverage that best fits your needs.
Common Medicare Annual Enrollment Questions
Do I need to review my Medicare plan every year?
While you are not required to change your plan every year, an annual review can help you understand changes to your coverage and ensure your plan still meets your needs.
Is Medicare Annual Enrollment the only time I can make changes?
Not always. Depending on your situation, other enrollment periods may apply. A Medicare advisor can help you understand which options are available to you.
How much does a Medicare review cost?
At Gannon Associates Insurance, Medicare reviews are complimentary. Our goal is to provide guidance and help you understand your options.
When should I schedule my Medicare review?
Appointments can fill quickly during Annual Enrollment, so it is best to schedule early. Starting the process sooner gives you time to review your options before the December 7th deadline.
Make Medicare Decision With Confidence
Medicare does not have to be complicated. With the right information and guidance, you can feel confident knowing you have coverage that aligns with your healthcare needs. Whether you are reviewing your current plan or exploring Medicare options for the first time, the team at Gannon Associates Insurance is here to help.
*** We do not offer every plan available in your area. Currently, we represent 9 organizations which offer 67 products in your area. Please contact Medicare.gov, 1-800-Medicare, or your local State Health Insurance Assistance Program (SHIP) to get information on all of your operations. Calling the number will direct you to a licensed sales agent.
