By Greg Durette, Florida Health Connector
This is the time of year when you should review your Medicare options and make important decisions about your coverage for 2025.
Right now, we are in the Annual Election Period (AEP) for all Medicare beneficiaries. It is often referred to as the Annual Open Enrollment Period. This annual event runs from October 15th through December 7th.
Because this period allows ALL Medicare eligible folks to make switches and changes to their plans, it is the most heavily advertised time of the year—not like I have to tell you that! Folks on Original Medicare (Parts A&B), Supplements (MediGap), Stand Alone Prescription Plans (Part D) and Advantage Plans have a chance to pretty much do anything they want with their coverage mix. The hard part comes with sorting it all out.
One of the things I often talk about with Medicare beneficiaries around this time of year is to make sure you don’t get so overwhelmed by all the information out there that you run out of time to take action. It can sometimes become “paralysis by analysis” syndrome. Remember, the AEP ends on December 7th!
Figuring out which coverage options are best for you can be confusing at any age, but understanding healthcare options for those 65 and older can be even more difficult.
I suggest considering these three things when shopping for Medicare
Advantage/Supplement plans:
Choice: When it comes to Medicare, one size does not fit all – what works for your neighbor (or doctor/provider!) may not work best for you. Take the time to learn and understand the benefits and costs of each plan so you can feel confident in your decision and your health care coverage. Remember, you are getting the best for you, not your doctor or other provider.
Care: Care starts with a strong relationship with your primary care provider. If your plan has a network, make sure you’re comfortable with the doctors and hospitals in that network. Check to see if your plan will coordinate your care with the rest of your providers…in and out of State.
Experience: Medicare can be complex and confusing. It’s important to find a seasoned agent that works for you and supports you throughout your health care journey with plan benefits and resources that can help you live more and worry less about out of pocket costs.
Since Medicare Advantage Plans are offered by private companies, one excellent feature is they have more freedom and motivation to include extra benefits such as vision, hearing, gym memberships, dental, over-the-counter pharmacy items and more.
However, it is important to note that, not only do Medicare Advantage plans vary by state, but are different right down to each individual county in each state. Supplements are universal regardless of state/county, but often times cost more premium per month and do not cover prescriptions, requiring additional premium costs to pick up that coverage.
Your sibling in North Dakota is not going to have the same insurance company/coverage options you would in your Florida county. Try not to get trapped into believing the terms Supplement and Advantage are the same. It is critical to know your specific differences before making choice that works for you.
This is why it is vitally important to work with a local agent that knows the area and understands the benefits landscape as it applies to you. A famous actor or retired athlete on TV touting a toll-free number from who knows where will likely not.
Greg Durette is a qualified, licensed agent with Florida Health Connector providing Medicare throughout the State of Florida and is based in Niceville. He has been in the insurance industry for over 41 years and can be reached at his office number of 850-842-2400 or mobile at 978-509-2941.
