Medicare’s Annual Enrollment Period, which lasts through December 7, is currently in full swing. Below we have shared three common mistakes to avoid during this season and we encourage you to keep in them in mind!
1. 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 following plan year. Your health insurance carrier is required to provide an ANOC to you no later than September 30 each year.
Some may disregard their ANOC as another piece of mail, but we would caution against this. It is 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 and prescription drug deductibles and/or copays. If you have questions about your ANOC, we encourage you to contact our team!
2. Being Unaware of Medicare Scams and Con Artists
The unfortunate reality is that Medicare fraud is on the rise and it increases during Medicare’s Annual Enrollment Period. Con artists are continually creating and employing scams to get their hands on your wallet and identity. Those who are unaware of this have a heightened risk of being targeted for such scams.
It is important to be vigilant in protecting your personal information from fraudulent individuals. Be careful to only share personal information, 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.
3. Assuming You Do Not Have Options
If you are 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.
You should consider reviewing other Supplement Plan options to see if there may be a better fit for your budget and needs. RetireMEDiQ offers a wide range of Supplement plans from various insurance companies. Some plans even include a fitness benefit that many of our clients enjoy. For a limited time, there are a few Supplement plans in certain states that RetireMEDiQ clients are eligible for regardless of medical condition.
We are here to guide you during the Annual Enrollment Period and throughout the year! If you have questions about our tips above or if you would like to review your Supplement Plan options, please contact us at 1-866-557-1313 or firstname.lastname@example.org.