8 Tips to Help You Navigate Medicare’s Open Enrollment Period
It’s that time of year again! The Medicare Open Enrollment Period (formerly referred to as Annual Enrollment Period or AEP) has begun and it’s a crucial time for Medicare beneficiaries. Running from October 15 to December 7 each year, OE allows individuals with Medicare to review and make changes to their health care coverage. This period is specifically for those enrolled in Medicare, whether they’re enrolled in Original Medicare, a Medicare Advantage plan, or a standalone Part D (prescription drug) plan. During AEP, beneficiaries can:
Switch from Original Medicare to a Medicare Advantage plan (or vice versa).
Change from one Medicare Advantage plan to another.
Add, drop, or switch Medicare Part D prescription drug coverage.
With so many options and potential changes, navigating AEP can feel overwhelming, but Care Compass is here to help! Below are eight tips to help you navigate this important time period for Medicare beneficiaries.
1. Consult a Professional
Don’t be shy - consult a professional! Yes, that’s my NUMBER ONE tip. Here’s why: working with a local, independent Medicare broker can provide many key advantages including knowledge of the local healthcare landscape, face to face meetings, access to a variety of plans all in one place, expert guidance and experience, and ongoing support, among many other things. Plus, there is NO COST to work with an independent broker!
Looking for Medicare help near Altoona, PA? Get Started with Care Compass today!
Need Assistance with Medicare this OEP? Contact Tara today!
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2. Don’t Wait!
It’s easy to procrastinate when it comes to daunting Medicare decisions, but this process doesn’t have to be scary! There is plenty of time to prepare and make educated decisions when it comes to your healthcare this AEP. The enrollment period runs from October 15th - December 7th, which gives you ample time to review your current coverage and assess your needs for the upcoming year (more on that below). Reach out to your local Medicare broker as soon as possible to schedule a FREE annual review!
3. Stay Informed
Follow trusted Medicare resources like Medicare.gov, AARP, and of course, Care Compass, to stay up to date on Medicare changes (there are some big ones happening in 2025!). If you haven’t learned about them yet, check out our blog Medicare Part D in 2025: What’s Changing and Why It Matters and What is the Medicare Prescription Payment Plan?
4. Review Your Current Coverage
Take time to assess your existing plan. You should’ve received an Annual Notice of Change (ANOC) from your current insurance provider in late September. Be sure to read this document carefully, making note of any changes that seem important. Consider the following: Has my inpatient hospital coverage changed? Have my copayments (PCP, specialist, ambulance, etc) changed? Are all of my medications on the plan’s formulary (the list of prescription drugs that are covered by the plan). Are any of my medications changing tiers (tier levels determine what you pay at the pharmacy for your medications)? You can Take notes and write down any questions you have so that you can ask your trusted Medicare broker.
Truman’s Tip:
When you create or log into your secure online Medicare account and select “Compare Plan Details,” you can compare side by side how your costs and benefits may change in 2025 if you stay with your current plan!
5. Evaluate Your Needs
Just like plans change yearly, so do your individual needs! Ask yourself the following questions and take ample notes so you can provide this information to your Medicare broker:
Have my health needs changed since last year?
What benefits did I utilize most last year? Which benefits did I not utilize as often?
Have any of my doctors changed?
Have my medications changed?
Am I expecting surgery?
Do I anticipate needing physical therapy, occupational therapy, durable medical equipment, etc.
The goal of AEP is to ensure that your healthcare coverage aligns with your current needs. By evaluating your needs, you can find a plan that suits you best.
6. Know Your Options
Medicare affords you several options, including Original Medicare (Parts A and B - typically paired with a Medigap AKA Medicare Supplement Plan), Medicare Advantage (Part C), and Medicare Part D for prescription drugs. Understanding the differences and benefits of each can help you choose the best option for your health care needs. I take a deep dive into the differences between Medigap and Medicare Advantage Plans in “Beyond Basics” on my Youtube Channel!
7. Keep Personal Information Ready
Gather necessary personal information, such as your Medicare number (including Part A and B effective dates), prescription details, current physicians and healthcare needs. Being organized can streamline the decision-making process and ensure your broker has all of the pertinent information to help you make informed decisions.
8. Ask Questions!
When consulting with a Medicare broker or exploring plans, be proactive in asking questions. This will help you gain a clearer understanding of your options. Consider asking about:
Network Providers: Are my current doctors and hospitals in-network?
Costs: What are the monthly premiums, deductibles, and out-of-pocket maximums?
Specific Coverage Details: What services are covered, and are there any limitations or exclusions I should be aware of?
Prescription Drug Coverage: Are my medications covered under the plan, and what will my costs be?
Additional Benefits: Does the plan offer extra services like vision, dental, or wellness programs?
Having these questions prepared will empower you to make more informed decisions about your healthcare coverage during AEP.
Summary
The Medicare Open Enrollment Period is your chance to reassess and adjust your healthcare coverage for the coming year. Navigating AEP can feel daunting, but Care Compass is here to help! As a local, independent Medicare insurance agency, we provide personalized guidance and support at NO COST to you. Together, we can explore your options, address your questions, and find the coverage that suits your needs best.
Don’t wait until the deadline! Contact Tara today to schedule your FREE annual review and ensure you’re making the most informed decisions about your healthcare. Let’s get started on securing your best coverage for the year ahead!
Care Compass is an independent insurance agency that helps seniors navigate the complexities of Medicare and other Senior Products. Our services are offered at NO COST! Care Compass is proudly owned and operated in Blair County, Pennsylvania. We provide Medicare insurance assistance to the residents of Altoona, Hollidaysburg, Duncansville and the surrounding region. If you need assistance with Medicare, contact Care Compass today!
