When you are on Medicare, you hear the term Annual Enrollment period or AEP, more than you would probably like. Many know this means that is you can make a change during this time; What does that look like, and does it apply to me, is a question I often get
Let’s start with the basics:
The Annual Enrollment Period begins on October 15th and continues until December 7th every year. During this time, you can change, drop, or pick up a Medicare Advantage Plan or a Prescription Drug plan. Any selection you choose in the AEP will start on January 1st of the next year.
The Annual Enrollment Period does not really affect a Medicare Supplement, Medigap, Plan as those you can change at any time if you are healthy. If you are on a Medicare Supplement, the AEP only affects you are looking to leave the Medicare Supplement program and move into the Medicare Advantage style of healthcare. You should review your drug plan annually.
Do I Need to Make a Change?
While it is wise to evaluate your plan yearly, a change is not always necessary. You should receive an Annual Notice of Change informing you about the changes to your current plan for the new year. You may see these changes and the plan will still work for you, however, that does not mean that there is not a plan that fits your needs better for the next year.
I advise all my clients, friends, family members, and acquaintances to at least look at the plans annually to ensure they always have the plan that best fits their needs.
Why do I get so many phone calls?
Unfortunately, there are lists out there that people sell that have your contact information. Many places that collect personal information will turn around and sell it. Here are a few things to keep in mind. Medicare ONLY allows an agent to call you about Medicare Advantage, or Prescription Drug plans if you have requested this information. If you are getting calls about a Medicare verify why they are calling. If they are selling Medigap Plans, they can technically cold call.
How do I stop the calls?
Unfortunately, you won’t stop all calls, but to try to combat them you should register online on the Do Not Call Registry. Other than that, many people just ignore the calls, and that’s understandable, I get 10 calls a day about my car warranty running out, I have a lifetime warranty on my vehicle, and they can be quite annoying, but the only way to really get the calls to stop from a particular company is to answer and ask to be put on the Do Not Call List. Many people will simply pick up and say do not call me, this is not the same; you must state “Place Me on Your Do Not Call List.” In most cases,
there is more than one company calling so it will take you some time to get all of them to stop.
Online Requests.
This is another common reason for phone calls, 99% of the companies and websites you go to for a free online quote are baiting and switching you after you provide your name, email, zip code, and phone number. You will get a screen that says something such as something went wrong, and an agent will be calling you to discuss plan options. In addition, many of these companies will sell your information to a few other companies as well, which increases the number of calls you are receiving. There are only a few sites out there that do give you online quotes, such as E-AdviseInsurance.com
In a nutshell:
If you are on a Medicare Advantage plan or a prescription drug plan, you should review your plan and options annually to ensure you always have the best coverage for your situation. We would love to help you with this. Give us a call at 727-678-1505, schedule an appointment, or review yourself using our self-service tool. Keep in mind not all carriers will show up on the self-service tool so if you are interested in a carrier not shown, let us know and we can get that information to you.
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