While using the Medicare Annual Enrollment Period (AEP) is optional, it can be beneficial for those who are looking to make some changes to their coverage. Taking advantage of this period and seeing what other Medicare options are available to you is a good way to ensure you are receiving all of the benefits you need at a price you can afford.
However, one of the biggest questions that arises during this time is how to know if you need to make changes. Here’s what you need to know.
How Will I Know If I Need To Make Changes?
AEP occurs each year from October 15 to December 7. This gives you an almost two-month period to make any necessary changes you need to your Medicare coverage. The best way to determine if making a change is best for you is to review your current plan and see what changes will be made that will take effect the following year, starting January 1.
If your current Medicare plan will be making changes to its cost or coverage, you can expect to see an Annual Notice of Change (ANOC) and/or an Evidence of Coverage (EOC) letter sent to you by mail.
What Is The Annual Notice Of Change?
The ANOC will be sent to you during the month of September and will include any changes regarding your plan’s costs, coverage, and other information that will take effect in January.
What Is The Evidence Of Coverage?
Similar to the ANOC, the EOC will also be sent by mail in September. This notice will detail out what the plan covers, how much you will pay, and more.
Review Your Medicare Plan
Once you have received these documents and reviewed any changes that will be made to your plan, it is time to decide if your plan will still meet your needs for the next year. If it will not, you should consider using AEP and find a plan that will.
Our team with Toni Buffington Medicare Solutions is dedicated to walking you through this process and making Medicare as easy as possible for you! All you have to do is give us a call today to schedule an appointment with our Medicare experts, and we will help you find the Medicare coverage you need.