Secure a Peace of Mind: Learn What You Need to Know Before Medicare’s Annual Election Period

Sep 8, 2023

Discover the Medicare Election Period: Your Chance to Change Coverage


Every year, from October 15th to December 7th, the Medicare election period arrives. It’s a critical time for Medicare consumers to make adjustments to their coverage. But, do you really know what you can do during this period?


During these seven weeks, insurance carriers and large insurance agencies called FMOs (Field Marketing Organizations) are all vying for your attention. They want to enroll as many people as possible, with the goal of hitting 65% of their annual enrollments in just a short window. It’s a frenzy!


But let’s clear up some misconceptions. While you might hear about new plans with incredible benefits, they are rare and usually limited to specific areas or require dual eligibility with Medicare & Medicaid.


If you want honest help, turn to an independent agent or broker who specializes in Medicare. They can guide you year-round and provide the support you need.


At the Modern Medicare Agency, we’ve been assisting Medicare consumers since 2007. We offer free Medicare coverage reviews all year and dedicated customer support. Contact us today and let us help you navigate the Medicare election period with ease.


How to prepare for the Annual Enrollment


When it comes to managing your healthcare, being organized and well-informed is crucial. From keeping track of your doctors and medications to evaluating your current coverage, there are several important steps you can take to ensure you make the right decisions for your health and well-being. In this essay, we will explore these steps in detail.


The first step in navigating your healthcare is to create a comprehensive list of all your doctors, hospitals, and medications that are important to you. This list will serve as a valuable reference when evaluating different insurance plans and making changes to your coverage. By having all the relevant information in one place, you can easily compare the benefits and limitations offered by various insurance providers.


Once you have your list ready, it is time to assess your current coverage. Take a moment to reflect on the things you liked and didn’t like about your existing plan. Are there any aspects of your coverage that could be improved? Are there any limitations or restrictions that have hindered your access to necessary medications or treatments? By identifying these pros and cons, you will have a clear understanding of what you are looking for in a new insurance plan.

To further inform your decision-making process, it is essential to read over your annual notice of change document from your current insurance carrier. This document contains important information about any modifications or updates to your coverage that will take effect in the upcoming year. By thoroughly reviewing this document, you can anticipate any changes that may impact your healthcare needs and plan accordingly.


As October 1st approaches, it is vital to start your research early. This is the date when all the new plan information becomes available. Take the time to explore different insurance options, compare premiums, coverage benefits, and network providers. By starting early, you can make an informed decision before the official change period begins on October 15th.


It is worth noting that you have until December 7th to make any changes to your healthcare coverage. This extended period allows you to carefully evaluate your options and make any necessary adjustments. Remember, your health and well-being are of utmost importance, so don’t hesitate to make changes if you feel it would better meet your needs.


Beware of Medicare Scams

Misleading Tv commercials

Read the fine print


While not all insurance companies or brokers are untrustworthy, it’s important to be cautious as the Medicare population grows rapidly. During the annual election period, countless agencies and agents will try to persuade you to switch your coverage. However, we want to emphasize that it is not mandatory to do so.


Many scammers will employ deceptive advertising tactics, such as airing television commercials repeatedly throughout the day. These commercials will promote various extra benefits offered by Medicare advantage plans, such as free dental, vision, and hearing services, gym memberships, debit cards, and transportation assistance. It’s crucial to note that while these benefits do exist, they often have specific eligibility requirements, such as residing in certain zip codes or being dual eligible for Medicare and Medicaid. Some third-party marketing companies will exploit this by advertising these benefits in areas where you may not qualify for them. Additionally, famous individuals from your generation, like Joe Namath or William Shatner, may appear in these commercials solely to attract your attention and prompt you to call. These phone calls are often sold to agencies, insurance carriers, or agents who aim to enroll you in a plan. Keep in mind that these agents may be part-time workers with quotas to meet, prioritizing their own commissions and bonuses over your long-term satisfaction. Consequently, we strongly advise against calling a 1-800 number associated with a commercial for additional benefits.


Now that most baby boomers are online, expect to see numerous online ads attempting to persuade you to click and fill out a form to determine if you qualify for special benefits. However, be cautious as filling out these forms grants permission to be contacted through various means like phone calls, text messages, and emails. Your information will likely be shared with multiple agents. Always read the fine print before submitting any online forms, paying particular attention to the disclosures typically found at the bottom of the ad in small print.

Lastly, be wary of the abundance of direct mail you will receive, including advertisements from insurance carriers. These postcards often list plan highlights with enticing offers like $0 premiums or copays. However, they can be misleading, and you may even receive this mail from your current insurance provider. Don’t be fooled into thinking these benefits apply to just one plan. These direct mail pieces are not as concerning as business reply cards (BRCs), which may appear to be from a government agency. These cards often mention important plan changes, but beware, filling them out will result in an influx of phone calls. Always check the bottom of the postcard for a disclaimer stating that they are not affiliated with any government agency. Don’t provide any personal information if you come across such a card, as it is a sales tactic.


Lastly, overseas call centers have become increasingly aggressive, utilizing automated dialers to relentlessly contact Medicare-eligible individuals. Some even purchase local phone numbers to trick you into answering.


In Conclusion:


To ensure a smooth Medicare experience, it is crucial to plan ahead and prioritize your needs. Do not be swayed by deceptive advertisements; pay close attention to the fine print.


Be wise and recognize that contacting a 1-800 number or any insurance company solely based on an ad is primarily a profit-driven move for them, not necessarily in your best interest.


Do not get caught up in the hype surrounding new plans. It is extremely rare for any plan to offer significantly more benefits than others. If a plan does seem too good to be true, it either requires dual eligibility with Medicare and Medicaid or is only available in limited areas.


If you truly want help navigating the world of Medicare, it is best to consult an independent agent or broker who specializes in Medicare. These professionals can offer guidance and support year-round.


Since 2007, the Modern Medicare Agency has been dedicated to assisting Medicare consumers. We offer free Medicare coverage reviews throughout the year and provide excellent customer support.