On Medicare? Stay Alert This Fall.
Open enrollment demands some vigilance.
Medicare enrollees’ mailboxes are stuffed this time of year. (Dreamstime)
Like pumpkin spice and football season, Medicare ads are an inescapable part of fall. For people 65 and over, that means a deluge of marketing mail that might go right into the recycling bin. But make sure you don’t chuck important letters while you’re at it.
At this time of year, health plans send key correspondence that can get lost in the marketing blitz that accompanies open enrollment, which runs from Oct. 15 to Dec. 7. If you get a letter from your plan, don’t throw it away without reading it. In fact, don’t throw it away at all; hold onto it as a reference.
The annual notice of change that your plan sends will outline what will be different for next year. For example, Medicare Advantage enrollees might see increases in co-pays and other out-of-pocket costs. You might even find out your plan is being discontinued. Up to 10% of Medicare Advantage enrollees will be forced out of their plans for 2027, according to estimates.
If that’s the case, you’ll have a chance to enroll in new coverage. If you don’t act, you’ll revert to traditional, government run Medicare for Jan. 1. But don’t do nothing. For starters, you won’t be automatically enrolled in Part D drug coverage, so if you don’t proactively sign up, you could be surprised with unwelcome charges at the pharmacy counter next year.
Shopping for plans can be overwhelming, and a knowledgeable broker can help. Medicare Agents Hub is one place to find an independent broker who represents multiple carriers, which is better than someone who represents just one.
And throughout this season, be wary of scams. Fraudsters are taking advantage of the flurry of activity around open enrollment to prey on Medicare recipients, and artificial intelligence has made them better at their jobs. The government will never call you out of the blue and demand immediate action. Official Medicare employees will never call and ask for your Medicare number (they know it—they don’t have to ask).
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