3 Medicare Enrollment Mistakes to Avoid

Medicare’s yearly enrollment window, or Annual Election Period, is open now. You can make certain changes to your Medicare plan(s) at this time, access the providers and facilities you prefer, obtain a more beneficial drug plan, and potentially save yourself money next year. But as with most big decisions, there are certain pitfalls that can happen. During AEP this fall, avoid these three common Medicare enrollment mistakes.

Forgetting to check your plan’s network. Before switching into a new Medicare plan, make sure to check its network coverage. Are your current doctors and preferred facilities offered within that network?

And for that matter, sticking with your current plan doesn’t always work out, either. Sometimes plan networks do change, and you could find that your doctor is no longer available to you. Make sure to check your plan’s Annual Notice of Change to be certain that you can continue to use the same doctors and facilities, if you decide to stick with it.

Overlooking your Part D options. Medicare Part D plans do change their premiums and formularies (list of covered drugs) from one year to the next. Be sure to check on any upcoming changes to your Part D plan, and do some comparison shopping even if your plan is staying the same. You never know if a better deal or wider coverage is available until you look for it.

Assuming you need to be on the same plan as your spouse. Your plan might work well for you, but that doesn’t mean it will be a perfect fit for your spouse (or vice versa). Each of you are unique individuals with your own healthcare and prescription drug needs. Therefore each of you should choose a plan that best fits your own situation.

Medicare enrollment can be a complex process, and the decisions you make will impact the next year’s healthcare availability and costs. To obtain free guidance at this time, give us a call and one of our Medicare specialists can guide you through the Medicare enrollment process.