What Florida Seniors Need to Know About Medicare Open Enrollment

Every fall, Medicare beneficiaries across Florida have a critical opportunity to review and change their coverage. The Annual Enrollment Period (AEP) -- commonly called Medicare Open Enrollment -- runs from October 15 through December 7 each year.

If you do nothing, your current plan automatically renews. But that does not mean it is still the best plan for you.

The Annual Enrollment Period (AEP) is the window each year when Medicare beneficiaries can make changes to their coverage. Changes made during AEP take effect January 1 of the following year.

During AEP, you can:

• Switch from Original Medicare to Medicare Advantage
• Switch from Medicare Advantage back to Original Medicare
• Switch from one Medicare Advantage plan to another
• Switch from one Part D plan to another
• Add Part D coverage if you did not have it before
• Drop Part D coverage (though this may result in a penalty if you go without creditable coverage)

What AEP does NOT allow:

• Switching Medicare Supplement (Medigap) plans without medical underwriting (in most cases)
• Enrolling in Medicare for the first time (that requires your Initial Enrollment Period or a Special Enrollment Period)

Medicare plans change every year. What was the best plan last year may not be the best plan this year. Here is what can change:

• Premiums -- Your plan's monthly premium may increase
• Formularies -- Drugs that were covered may be removed or moved to a higher tier
• Networks -- Doctors and hospitals may leave the plan's network
• Benefits -- Extra benefits like dental, vision, and hearing may change
• Out-of-pocket maximums -- Your maximum annual exposure may increase

Every year, I review my clients' plans during AEP to make sure they are still getting the best value. In many cases, I find plans that offer better coverage at a lower cost.

Step 1: Review your Annual Notice of Change (ANOC) Your current plan is required to send you an ANOC by September 30 each year. This document outlines all the changes to your plan for the coming year. Read it carefully.

Step 2: Make a list of your current medications Drug formularies change every year. Make sure your medications are still covered at the same tier -- or find a plan that covers them better.

Step 3: Verify your doctors are still in-network If you have Medicare Advantage, confirm your primary care doctor and specialists are still in your plan's network for the coming year.

Step 4: Compare your options Do not assume your current plan is still the best option. Florida has dozens of Medicare Advantage plans and multiple Part D options. Comparing plans can save you hundreds of dollars per year.

Step 5: Make changes by December 7 Any changes you make during AEP take effect January 1. Do not wait until the last minute.

If you miss AEP or want to make a change after January 1, there is a second window: the Medicare Advantage Open Enrollment Period (OEP), which runs January 1 through March 31.

During OEP, you can:

• Switch from one Medicare Advantage plan to another
• Switch from Medicare Advantage back to Original Medicare (and add a Part D plan)

You cannot use OEP to switch from Original Medicare to Medicare Advantage.

As your independent Medicare broker, I review your coverage every Annual Enrollment Period at no charge. I compare every plan available in your area and let you know if there is a better option.

Call me at (386) 871-3858 or schedule your free AEP review at calendly.com/themedicaredude/75.