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Offered by: Jennifer Bell – Bell Benefits, LLC

In the fall of every year, we get inundated with Medicare commercials. After you hear enough of them, you start to wonder if you need to be doing something. They make it seem so urgent!

Here are the facts of what you need to know:

If you have a Medicare Advantage Plan or a Prescription Drug Plan, your plan is on a Calendar Year contract. This means that you are in your plan from January 1 – December 31.

Medicare gives you a season each year (Oct. 15 – Dec. 7) to “shop around” for another plan to start January 1. They give you this season so that if you don’t like the plan you are in, your doctor quit taking your plan, or your medications are not being covered as well as you would like them to be, you can make a change.

So technically speaking, you don’t have to do anything during the Annual Election Period if you don’t want to.

One thing I do recommend is looking at the prescription coverage in your plan for the following year to make sure you are still in the best prescription plan. They seem to make changes to the prescription coverage annually or every other year.

Here’s an exception. If you have a true Medicare Supplement, these plans are month-to-month. You can change this plan at anytime or keep it as long as you would like. This is great because if you get a rate increase, you can get pricing from other companies and change carriers at anytime.

Please contact me if you have any questions. I am happy to help!