It’s that season, Medicare Open Enrollment. Soon, your mailboxes will fill with advertisements, encouraging you to change your Medicare Advantage Plan (MAPD) or your Part D prescription plan (PDP). Some are compelling, making it seem like you “must act now!” Others appear to offer remarkable deals, such as enormous allowances towards groceries and pharmacy items. It can make you want to toss everything in the recycle bin that has the word Medicare on it, but please don’t.
Here are some tips to help:
In September, if you have a Medicare Advantage Plan or Prescription Plan, you will receive an Annual Notice of Change (ANOC) from your current insurance carrier. It’s important to read this. Each page has two columns. The left side states this year’s coverages. The right side shows any changes that will occur on January 1, or if the plan is ending. This can help you determine if you wish to check to make sure it’s still your best choice.
If you receive mail that urges you to act, look it over closely. If it is an advertisement, it must state that. You may need your reading glasses or a magnifying glass. That wording is usually in the smallest allowable size. If the mail is not from your current carrier, it is certainly an advertisement.
If you see ads promising thousands of dollars of groceries, it is not legitimate. Some Medicare Advantage plans do offer substantial OTC cards that sometimes cover groceries. Those plans may have a huge max out of pocket limit, meaning if you were to have a major medical event, you may owe thousands of dollars in deductibles and copays. Read the entire policy details before enrolling in any new plan.
Did you know? Part D prescription plan changes must occur during Open Enrollment October 15 – December 7, but there’s a second Open Enrollment just for Medicare Advantage Plans from January 1 through March 31. This helps if your plan changes more than you expected, if your doctor drops your plan on January 1, or if your new plan isn’t working the way you expected. You can avoid the crowds and wait until January 1 to shop for a new plan.
We know that the ads and information can be confusing or overwhelming. That’s why we’re here. Call us anytime you have questions or if we can be of help. We can see every policy available, so that you can make the best decision for your specific needs.
The State Health Insurance Program (SHIP), formerly known as MMAP, has offices in every Michigan county. Call (800) 803-7174 today! SHIP is a free, unbiased Medicare counseling service provided to you via local, state, and federal grants.