Each year as the Annual Election Period approaches, Medicare ads are everywhere, and it can feel impossible to escape the constant barrage. Many of them are designed to make you worry that you’re missing out on a better deal or that your current coverage is no longer good enough. If you’ve felt that twinge of doubt, that means the ads did exactly what they were meant to do. Let’s walk through the most common changes seniors consider during this season and clear up some of the concerns that might be weighing on you.
Medicare Advantage Policyholders
Each September, your plan will mail you an Annual Notice of Change (ANOC) outlining what will be different for the upcoming year. Review it closely to confirm that your doctors, hospitals, and prescriptions will still be covered. Because drug coverage is usually built into these plans, pay special attention to any formulary changes. If the updates don’t work for you, you can shop for another Advantage plan or return to Original Medicare and apply for a Medicare Supplement (you must be able to qualify medically). Advantage plans come with rules and restrictions, so make sure you’re comfortable with everything before you commit.
Medicare Supplement Policyholders
These Medigap plans (Plan F, Plan G, Plan N, etc.) work alongside Original Medicare. Your benefits stay the same from year to year, but your premium may increase. You generally don’t need to make changes during this season unless you’re trying to lower your premium. To switch companies, you’ll need to qualify medically. If you have health issues, staying with your current plan may be the safest option.
If you have a Supplement, you likely also have a Part D prescription drug plan. It’s always a good idea to review that plan’s ANOC as well. If your medications are no longer covered affordably, you can change your Part D plan from October 15 through December 7th each year.
Original Medicare Only
Some seniors still carry only Medicare Part A and Part B. This leaves you responsible for 20% of all approved medical costs with no cap, which can be financially dangerous. If you have “Medicare Only,” you can enroll in a Medicare Advantage plan or apply for a Medicare Supplement (medical qualification required). Either option will limit your out-of-pocket exposure and protect you from large, unexpected bills. Don’t forget prescription coverage—you’ll need a Part D plan to avoid penalties.
The Annual Election Period is important, but it doesn’t have to be overwhelming. Focus on what matters most to you: a lower monthly premium, broad provider access, or predictable out-of-pocket costs. Take your time, compare your options, and don’t feel rushed. Even if you’ve already made a change for next year, you can still make an adjustment.
Our team is here to help with anything Medicare-related. If you’d like to talk through your Medicare coverage questions, please give us a call at 800-750-2407.
God bless you!
