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here's why you should take advantage of Medicare's AEP

4 Reasons to Take Advantage of Medicare’s AEP

From October 15th to December 7th, Medicare beneficiaries have the opportunity to make the most out of their Medicare coverage. Here are the top four reasons why you should take advantage of the Annual Enrollment Period (AEP).

1. Get Prescription Drug Coverage

If your current Medicare plan doesn’t have prescription drug coverage and you’d like to have it, you should absolutely take advantage of the AEP.

One of the benefits of the AEP is your option to add or remove a Part D plan, or a Medicare Advantage plan with prescription coverage. To learn more, check out our blog on changing Part D plans during the AEP.

2. Find a Better Insurance Provider

Take the time to review your current coverage and compare it with other options. If you have Medicare Advantage and/or Part D, a better deal may become available with a different company. 

If other plans are available in your area, you may be able to find the same or better coverage elsewhere than your current provider. 

3. Reduce Your Monthly Medicare Premium

Your monthly premium is one of the most important pieces of your Medicare coverage. If you find that you are having trouble affording your current rate, or simply feel you are paying too much for coverage you don’t need, the AEP is the perfect time to fix it.

You can do this by either disenrolling from one or all of your current Advantage and/or Part D plans, or by seeking better deals elsewhere as described above. And, if you are having trouble affording your coverage, you may consider checking if you qualify for Medicaid.

4. Tailor Your Coverage to Your Changing Healthcare Needs

Sometimes, your health needs change over time. Hopefully, your health improves and you no longer need as much coverage—if that is the case, you may be fortunate enough to simply cancel one of your additional plans (Advantage or Part D) during the AEP.

If, on the other hand, you find that you have more insurance needs than you had previously, you may also add another plan to your current coverage.

Take Your Medicare Coverage to the Next Level — Call Trusted Senior Specialists

With so many ways to improve your insurance coverage during the Annual Enrollment Period, where do you begin? 

With Trusted Senior Specialists, you will be guided through all of your coverage options to ensure that you get the best plan on the market for your healthcare needs. If you’re ready for your free insurance advice, give us a call at (855) 952-1941.