The Medicare Annual Enrollment Period is just about to start.
Now is the time to take a good look at your current Medicare Plan and the upcoming changes to make sure it will still fit your lifestyle and needs.
On October 1, all Medicare Advantage carriers released their new and updated plan information that take effect on 01/01/22. If you are on a Medicare Advantage plan, you should have received your Annual Notice of Changes (ANOC). Be sure to review this document so that you know what changes to expect in the upcoming year.
Here is a list of possible changes to look out for:
- Provider & pharmacy network: Make sure your doctor, hospital, pharmacy, and other providers are still in your plan’s network.
- Prescription drug coverage: Has the tier changed for the drugs you take?
- Premiums, co-pays, deductibles: Are these costs being increased?
- Hearing, dental, and vision: Will there be any changes to coverage?
Not all changes are bad. To remain competitive, or due to CMS requirements, carriers may enhance their plans to include more supplemental benefits, such as gym memberships, nutritional services, and transportation benefits.
In addition to plan changes, there are often new plans introduced to an area. Be sure to see what new opportunities are out there. If you find that you are happy with your current plan and how it will work in 2022, no changes are needed. You are all set!
But, if you find that your plan coverage does not meet your needs or you want to see if there is a better plan out there, be sure to review all your options.Our licensed agents at Medicare Insurance Advisors are here to help you understand the plans available and see if it makes sense to switch plans.