Be prepared when Medicare’s Annual Election Period (AEP) begins on October 15. AEP is the time of the year when you can make changes to your Medicare coverage. HealthCompare has partnered with Medicare.org to produce an AEP checklist. Follow these steps so you’ll be ready to explore your Medicare insurance options:
- Have your red, white and blue Medicare card, your Medicare Advantage Plan identification card, and/or your Prescription Drug Plan card on hand.
- Gather your medical receipts and bills from the past year. Review them in order to determine if your current coverage was enough to keep your medical expenses within your budget. If you find that your out-of-pocket expenses were too high, you may want to consider other plans during AEP.
- Make a list of your doctors and specialists. If these medical providers are important to you, you can check a plan’s network before enrolling to make sure you can continue to visit the doctors and specialists you are comfortable with.
- Create a comprehensive list of your current prescription medications, including names and dosages. If you are looking for a Prescription Drug Plan (PDP) or Medicare Advantage Plan with prescription drug coverage (MA-PD), compare plan formularies (lists of covered drugs) and pricing to make sure the medications you need will be covered. Plans can vary in cost and benefits.
- Read through your Medicare Advantage Plan’s Annual Notice of Change (ANOC) that will be delivered in September. This document will outline any changes to your plan for the upcoming year so you can determine if the plan will continue to meet your needs or if you should consider other options.
- When Medicare’s AEP begins on October 15, start searching for plans available in your area. You will be able to compare plans side-by-side based on your personal preferences.
- As you research plans, speak to a knowledgeable, licensed sales agent who can answer any questions or address any concerns.
- When you have made a decision, you may be able to enroll online or over the telephone. HealthCompare is a trusted partner of Medicare.org and provides the ability to enroll in many Medicare Advantage Plans and Prescription Drug Plans online or over the phone.
- Enroll by December 7 when Medicare’s AEP ends.
If you need any assistance during AEP, please contact HealthCompare by calling them at either 1-888-815-3313 – TTY 711 or by requesting a quote.