Today begins Medicare Open Enrollment – Oct 15th – Dec 7th. This is the time to change Part C (Medicare Advantage Plans) and Part D (Part D Plans). All plans seem to change something, especially the drug formulary. Look at your ANOC (Annual Notice of Change) booklet that you recently received (or call your Plan if you haven’t received it yet). The first few pages will tell you what is changing in your Plan for the next year. There are also new Plans out for 2018 and you need to research to see if there is another Plan that may offer you better benefits. Many Medicare Advantage Plans offer extra benefits like chiropractic, acupuncture, vision, hearing, dental or gym memberships. If you feel your Plan is good for you next year, there is nothing to do. It will simply roll over.
If you have a loved one that is on Medicare, please help them. Many times, they stay on the same Plan because they just don’t know how to research. You can make a huge difference in their lives by getting them to call us!
Be aware of the Star Ratings of the Plans also. Medicare gives an overall rating of the Plan’s quality and performance for the types of services each plan offers. For plans covering health services, this is an overall rating for the quality of many medical/health care services that fall into 4 and 5 different categories. From my experience, there is a reason a Plan gets a low rating so BEWARE!
This is also the time for those that are uninsurable to possibly obtain ‘guaranteed issue‘ into a MediGap supplement plan. If ANY benefit in your Medicare Advantage Plan increased by 15% or was eliminated, you can go back to original Medicare (Part A & B) and obtain a stand alone Part D Plan (for drugs). Being on this option (with a MediGap plan) gives you the choice to see any Provider that accepts Medicare, no referral needed. It comes in handy if you want to go to a skilled nursing facility of your choice or see a Provider out of town.
You can do your own research by going to Medicare.gov or reach out to an independent insurance agent such as ourselves. We conduct a thorough search for you and will let you know if your Plan is still the better Plan for you next year. And there is no extra charge for our services. How do we get paid? If another Plan is better and we’re able to place the application for you, we receive a commission from the insurance company. Make sure the person you are dealing with is REALLY independent and represents MANY companies. We have come across many agents that claim they are independent and they are however, they are only Medicare certified with one or two companies. At Hoffman Insurance, we are contracted with over 40 companies and Medicare certified with 13 carriers. You’re best interest is our interest, whether we get compensated or not. Reach out to us early because it gets quite busy during the last week of Open Enrollment!