Each year starting in October, Medicare offers an Annual Enrollment Period, or AEP, to its beneficiaries. During this time, you can make changes to your Medicare health or drug plans. If you are not happy with your current plan or anticipate your needs changing, now is the time to speak with a licensed insurance agent.
Leonard Financial Solutions can provide you with Medicare quotes in NJ, as well as help you make the best coverage decisions for your needs and budget. Below are the top five questions we hear from clients about Medicare’s AEP and their answers.
What is the Annual Enrollment Period? What Can I Do During this Time?
The Annual Enrollment Period is from October 15th through December 7th every year. You can make any changes you want or need during this time, including switching, adding or dropping plans. Most of our clients use this period to make changes to their Medigap plan and Part D prescription drug plan.
Why Would I Want to Make Changes to My Coverage?
Companies that provide Medicare Advantage (Part C) and Medicare Part D prescription drug plans can make changes for the upcoming year. These changes are shared in September, and if you’re not happy with them, you can search around for a different health plan or drug plan.
Some of the changes you might find include:
How Do I Know What Changes are Occurring to My Medicare Plan?
If your plan’s provider is making changes to your plan, they will send an Annual Notice of Change (ANoC) letter in the mail. This notice lets you know of any changes in the plan’s cost and coverage that will take effect starting January 1st. If you do not receive an ANoC from your plan, you should contact your provider.
Are there Any Other Times During the Year When I Can Make Changes?
In addition to AEP, there are other times throughout the year when you can make changes such as:
If I Want to Change My Plan, Who Do I Contact?
The best place to start is with a licensed insurance agent like Leonard Financial Solutions. If there’s something you don’t like about the changes being made to your plans, we can help! We can gather Medicare quotes in NJ for you, review the different plans that meet your needs and ensure you have the best coverage for your lifestyle.
To schedule an appointment with Leonard Financial Solutions, call, text or fill out our online form. We can discuss the changes you’d like to make during AEP while making sure you are fully covered. Now’s the time to do this, so don’t delay!
Leonard Financial Solutions can provide you with Medicare quotes in NJ, as well as help you make the best coverage decisions for your needs and budget. Below are the top five questions we hear from clients about Medicare’s AEP and their answers.
What is the Annual Enrollment Period? What Can I Do During this Time?
The Annual Enrollment Period is from October 15th through December 7th every year. You can make any changes you want or need during this time, including switching, adding or dropping plans. Most of our clients use this period to make changes to their Medigap plan and Part D prescription drug plan.
Why Would I Want to Make Changes to My Coverage?
Companies that provide Medicare Advantage (Part C) and Medicare Part D prescription drug plans can make changes for the upcoming year. These changes are shared in September, and if you’re not happy with them, you can search around for a different health plan or drug plan.
Some of the changes you might find include:
- The cost of your plan
- What’s covered under your plan
- The healthcare providers and pharmacies considered to be in-network
How Do I Know What Changes are Occurring to My Medicare Plan?
If your plan’s provider is making changes to your plan, they will send an Annual Notice of Change (ANoC) letter in the mail. This notice lets you know of any changes in the plan’s cost and coverage that will take effect starting January 1st. If you do not receive an ANoC from your plan, you should contact your provider.
Are there Any Other Times During the Year When I Can Make Changes?
In addition to AEP, there are other times throughout the year when you can make changes such as:
- General enrollment period: January 1st to March 31st
- Part D enrollment: April 1st to June 30th
- Medicare Advantage enrollment period: January 1st to March 31st
- Medigap open enrollment period: Lasts for 6 months from the time you’re 65 and enrolled in Part B for the first time
If I Want to Change My Plan, Who Do I Contact?
The best place to start is with a licensed insurance agent like Leonard Financial Solutions. If there’s something you don’t like about the changes being made to your plans, we can help! We can gather Medicare quotes in NJ for you, review the different plans that meet your needs and ensure you have the best coverage for your lifestyle.
To schedule an appointment with Leonard Financial Solutions, call, text or fill out our online form. We can discuss the changes you’d like to make during AEP while making sure you are fully covered. Now’s the time to do this, so don’t delay!
RSS Feed
