3 Mistakes to Avoid This Medicare Annual Enrollment Period

Medicare’s Annual Enrollment Period (AEP) is Oct. 15 to Dec. 7. Below we have shared three common mistakes to avoid during this season. We encourage you to keep in them in mind!

Not Reviewing Your Annual Notice of Change

Your Annual Notice of Change, or ANOC, is a document that provides details about the benefits included in your Medicare Advantage or Prescription Drug plan for the upcoming plan year. Your health insurance company is required to provide an ANOC to you no later than Sept. 30 each year.

Some may disregard their ANOC as another piece of mail, but we caution against this. It’s important to review and understand the information in this document and consider how it may affect you.

As you read your ANOC, look for potential changes to the following:

  • Monthly premium
  • Maximum out-of-pocket expenses
  • Provider visit copays
  • Inpatient hospital stays
  • Prescription drug deductibles and/or copays
  • Dental coverage details

If you have questions about your ANOC, we encourage you to contact our advisors!

Being Unaware of Potential Medicare Scams

Medicare fraud increases during AEP. But by being aware of this, you can protect yourself, your finances, and your information.

Be careful to only share information such as your Social Security number, bank account details, or your Medicare ID Number with authorized individuals you trust. Remember that reputable agents, including those from RetireMEDiQ, will never show up at your door.

Click here for more tips on avoiding Medicare fraud

Assuming You Have No Options

If you’re enrolled in a Medicare Supplement plan and it has become costly over the years, you may feel as if you are stuck with that plan. However, that may not be the case.

If your Medicare Supplement plan is not meeting your needs or budget, we offer a wide range of Medicare Advantage plans that could save you money and give you additional benefits. Examples of Medicare Advantage benefits include:

  • Coverage for dental, vision, and hearing services
  • Coverage for prescription drugs
  • Telehealth appointments
  • Fitness memberships
  • Over-the-counter allowances
  • Medicare Part B premium reimbursement
  • Grocery gift cards

And this is just the beginning! Medicare Advantage plans can include these benefits and more. Whether you’re already on Medicare or want to enroll for the first time, we’ll research your plan options and help you get covered for 2022.

Medicare Advice in Dayton and Cincinnati

We are here to give you Medicare advice in Dayton and Cincinnati during Annual Enrollment and throughout the year!

If you’re a current client and would like to review your plan options, please contact us at 1-866-557-1313 or [email protected].

Not a RetireMEDiQ client? Contact us at 1-855-981-8611 or [email protected] to learn more about our no-cost program and how we can guide you on your Medicare journey.

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