A non-government website

3 Outrageous Mistakes to Avoid During Annual Open Enrollment Period

annual open enrollment period

Author: SK

Each year, there is an annual open enrollment period of Medicare which runs from Oct 15th to Dec 7th. Thousands of Americans changed their plans during this period and made optimum use of this time. However, you can make mistakes that can endanger your health care plan and policies. Therefore, it’s important to acknowledge them and avoid them in the future. 

Are you wondering what those possible mistakes could be? Here we have identified the three most frequent mistakes that can be a burden for you. 

Not Giving a Heed to ANOC Notice

ANOC notice is emailed to every Medicare Advantage plan beneficiary. It contains the entire info about the changes in policies and the plan particulars for the upcoming year. It may be a piece of email lurking in your promotion folder, but it has huge importance. You have to review the notice and understand how the new changes will affect you regarding financial constraints, drug changes, or personal preferences.

All the private companies mail this notice to you no later than Sept 30th. Typically, it includes the following information about your Medicare plan:

  • The new premium 
  • Maximum out-of-pocket expenses
  • Deductibles
  • Copays for inpatient and outpatient care
  • Prescription drugs tier changes and copays
  • Dental coverage details

This notice will help you to catch any changes which can potentially affect you. For example, you need some XYZ drug all year long, but if your drug provider stops providing it, you’ll have to look for another option.

Unaware of Medicare Scams

During the enrollment period, the scam rates are high. Therefore, you have to be vigilant when providing your personal details like social security number, bank details, or Medicare number. You should entrust this information to the person you trust. Always remember that qualified Medicare agents will never knock on your door. 

Unaware of Options

Sometimes, you tend to stick with a single plan because you might see no other option. However, it isn’t true. If your supplemental coverage plan provides fewer coverage options and gets expensive, you should no longer be associated with it. Fortunately, Medicare issues new policies each year, and some companies introduce many new plans.

Therefore, you have a wide array of options at your disposal. Even for 2022, many companies like Humana are introducing up to 42 MA plans. So, you should look out and actively discover what’s best for you in terms of value and budget. Some of the MA benefits are as follows:

  • Dental, hearing, and vision coverage
  • Prescription drugs coverage
  • OTC allowances and fitness memberships
  • Grocery gift cards
  • Part B premium reimbursement
  • Telemedicine appointments

This is just a general list, and there can be even more new benefits. Discover and learn more about them. 

Conclusion

Everyone makes mistakes, but the wise will always learn and acknowledge them and might never repeat them. So, you might also have unintentionally made some mistakes, but try to avoid them. 

Nevertheless, if you want to change your plans and know more about the annual open enrollment period, visit New Medicare, and discover your options.