Medicare Annual Enrollment Period Guide | Founders Insurance Agency

Your Guide to the Medicare Annual Enrollment Period

October 15th to December 7th

The Medicare Annual Enrollment Period is your yearly opportunity to review your Medicare coverage and make changes to your plan. Let us help you navigate your options with confidence.

What Changes Can You Make During the Medicare Annual Enrollment Period?

During this limited time, you can make key changes to your Medicare coverage for the upcoming year. Your new coverage will start on January 1st.

Switch Plans

You can switch from Original Medicare to a Medicare Advantage Plan, or vice versa.

Change Medicare Advantage Plans

You can switch from one Medicare Advantage Plan to another.

Manage Prescription Drug Plans

You can join, drop, or switch a Medicare Part D prescription drug plan.

Review Your Current Plan

It’s wise to review your plan as benefits, networks, and costs can change annually.

Your Medicare Annual Enrollment Period Checklist

Prescription Drugs

Are all your medications on the plan’s list of covered drugs (formulary)? Check the costs for your specific drugs.

Doctors & Hospitals

Are your current doctors, specialists, and preferred hospitals in the plan’s network?

Total Costs

Look beyond the monthly premium. Consider deductibles, copays, and the out-of-pocket maximum.

Extra Benefits

Does the plan include dental, vision, hearing, or fitness benefits that you will use?

Common Mistakes to Avoid During the Medicare Annual Enrollment Period

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Assuming Your Plan Hasn’t Changed

Plans can change their benefits, costs, and provider networks every year. Always review the Annual Notice of Change (ANOC) your plan sends you each fall.

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Focusing Only on the Premium

A low monthly premium might hide high deductibles, copays, or coinsurance. Look at the total potential out-of-pocket costs for the year.

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Ignoring Drug Coverage Details

Check your plan’s formulary to ensure your prescriptions are covered and see which “tier” they are in, as this affects your cost. Also, check for any coverage rules like prior authorization.

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Missing the Deadline

The Medicare Annual Enrollment Period ends promptly on December 7th. If you miss it, you may have to wait a full year to make changes unless you qualify for a Special Enrollment Period.

Why Work With a Licensed Agent?

Expert Guidance

We are licensed professionals who understand the complexities of Medicare. We can help you compare plans and find the one that fits your needs and budget.

Personalized Service

You’re not just a number. We take the time to understand your unique health and financial situation to provide tailored recommendations.

No Cost to You

Our services are provided at no additional cost to you. We are compensated by the insurance carriers, so you get expert help without any fees.

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.