The Medicare Annual Election Period is coming up. Between October 15 and December 7, Medicare beneficiaries can change their enrollment for the following year. This is a great opportunity to make sure you have the right coverage for your needs. Before you choose a plan, ask your insurance agent these questions.

1. What do plan changes mean for me?

Before the Annual Enrollment Period begins, you should receive a letter informing you about any changes to your current Medicare plan. If you have any questions about the Annual Notice of Change, talk to your agent about them.

2. Are there new plans in my area?

Every year, new Medicare Advantage plans come onto the market, increasing the options for beneficiaries. Ask if there are any new plans available in your area.

3. What benefits are available?

Many Medicare Advantage plans offer benefits not included in Original Medicare. These can include vision, dental and hearing benefits, as well as many other important treatment options. Know what’s available so you can get the most out of your plan.

4. Are there any new benefits available?

Changes to Medicare rules mean that plans can start providing additional benefits that were not possible in the past. See if any of the plans in your area offer new benefits that could help you.

5. Is prescription coverage included?

Many Medicare Advantage plans include prescription drug coverage. If prescription coverage is not included in the plan you select, you will need to enroll in a separate Medicare Part D plan to obtain coverage.

6. Are my prescriptions covered?

Each prescription drug plan has a formulary, a list of prescription drugs that are covered. Check to see how the prescriptions you need are covered in the plan you select.

7. Are my providers in my network?

If you have any specific doctor or other care provider you want to continue seeing, it’s important to check your plan’s network. Otherwise, your appointments may not be fully covered.

8. Which hospitals are in my network?

Likewise, if there is a specific hospital you prefer, you should make sure it is part of your plan’s network.

9. What will my premium be?

Some Medicare Advantage plans are called “free.” Although you still have to pay your regular Medicare Part B premium, there is no additional monthly premium cost. Other plans, however, have an additional premium. Find out how much you’ll be paying.

10. What will my other out-of-pocket costs be?

In addition to the monthly premium, plans come with other out-of-pocket costs, including deductibles and copays. Make sure you know how much you’ll be paying so you can budget accordingly.

As always, PTT Financial is your go-to resource for Medicare Insurance guidance. Contact us to work with a licensed agent.