How long has it been since you last reviewed your Medicare policy? With the Annual Enrollment Period (AEP) quickly approaching, now is the time to take a closer look at your coverage and determine whether it still fits your needs.
From October 15 through December 7, Medicare beneficiaries have the opportunity to add, drop, or switch plans. Any changes made during this window will go into effect on January 1 of the following year—but only if submitted by the deadline.
Questions to Consider Before Open Enrollment
As you prepare for AEP, here are a few important questions to ask yourself:
Have you switched doctors? If so, does your current plan still include them in the provider network?
Has your doctor stopped accepting your plan? If yes, this might be the time to review alternatives.
Have your prescription drug needs changed? Not every plan covers the same medications, so it’s worth confirming that your current plan still provides the coverage you need.
Are you paying too much? Premiums, copays, and out-of-pocket costs can change year to year. Reviewing your plan ensures you’re not overspending.
Why This Review Matters
Your healthcare coverage is an important part of your overall financial and insurance strategy. What worked for you last year may not be the best option this year. Taking time to review your policy could mean finding a plan that better matches your current health needs and financial goals.
Need Guidance?
Medicare can feel overwhelming, but you don’t have to navigate it alone. Our team at Flagship Financial Advisors is here to provide clarity and guidance as you review your options during open enrollment.
If you’d like to talk through your Medicare coverage or explore other aspects of your retirement planning, please reach out—we’re happy to help.