Medicare Mistake #9:
Failing to Read Your Annual Notice
Your Annual Notice specifies changes in plan coverage, service area, and costs for the following year starting in January. Your Annual Notice is mailed to you by September 30th, which is 15 days before Annual Election Period (Oct. 15- Dec 7). You can use your notice to decide if your current coverage still meets your needs, as well as compare your current plan to others during Annual Election Period. It is best to make changes to your plan during AEP because there will be more options than the rest of the year.
It is important to thoroughly look at and compare your Annual Notice as even small plan changes can make a big difference in cost to you. To ensure you do not end up paying high out-of-pocket costs, make sure the health services and prescription drugs you need are covered.
We recommend that you compare your plan to other plans even if nothing significant has changed. Another company may offer the same plan at a lower rate. If you find a better plan, you must switch during Annual Election Period, Oct. 15- Dec. 7.
If you have not received your annual notice, contact your Medicare plan to request it. Failing to read the notice, eliminates this opportunity