Sep 3, 2024

Getting Ready for AEP

How you can prepare for AEP 2025

Getting Ready for AEP

Medicare’s Annual Enrollment Period (AEP) is right around the corner. Now’s the time to review your health care needs for the coming year and make sure you’re getting the right Medicare coverage for your health requirements and budget. Silvur Insurance is here to help! Read on to learn how to get no-cost assistance from our dedicated Medicare team.

‍AEP Overview

Medicare’s AEP runs from October 15 – December 7 every year. During this period, you can join, drop, or change your existing Medicare plan. If you are a current Medicare Plan beneficiary, you will receive your Annual Notice of Change (ANOC) in September. This mailing (or email) from your insurance carrier will detail any changes in coverage, prescription drug plans, costs, rules, or service area that will take place in January. With a limited timeframe to review your options, being prepared for AEP is key to finding the plan that is best for you.

How to Prepare for AEP

Review your Annual Notice of Change (ANOC)

Once you receive your ANOC from your current insurance carrier, make sure to read it carefully, so you’ll fully understand any plan changes for the next year, including all covered medications, doctors, and specialists. These changes can have a direct impact on your healthcare coverage decisions during AEP.‍

Outline Your Healthcare Needs for the Next Year‍

The plan that worked for you last year, may not address your healthcare and lifestyle needs in the coming year. As you review your ANOC, consider the following factors:

Changes in Health

  • Has your health changed?
  • Were you newly diagnosed with a chronic condition?
  • Are you going to need to see specialists in the upcoming year?
  • Will you need surgery, like a knee or hip replacement?
  • Do you want extra coverage for hearing, dental or vision?

Medications

  • Does your current plan cover the prescription medications you need?
  • Were you prescribed any new medications or taken off any previous medications?
  • Is your pharmacy considered “preferred” with your current plan?

Provider Networks

  • Are your preferred healthcare providers and facilities in your network?
  • Is your provider list up to date?
  • Will you need to see any doctors outside of your service area in the upcoming year?

Costs

  • Does your plan cover out-of-network services? At what cost?
  • How much will you have to pay in premium and copays/coinsurance?
  • How much will your prescriptions cost?
  • What is your out-of-pocket maximum?
  • Does your plan participate in a Medicare Buy Back/Give Back program?

Know Your Options

Now that you’ve evaluated what kind of coverage you will need next year, you can assess your options. Here are the changes you can make during the Annual Enrollment Period:

  • Switch to Medicare Advantage from Original Medicare, Part A and Part B
  • Change from one Medicare Advantage plan to another
  • Enroll in a Part D prescription drug plan
  • Switch from one Medicare prescription drug plan to another

Find Your Plan

Comparing plans can be overwhelming! It can be very helpful to work directly with an agent in Michigan who is licensed and educated in the Medicare market and can help you choose the plan that is right for you.

Your partners at Silvur Insurance are here to help and can meet with you one-on-one in your local MSU Credit Union Branch, over the phone, or even virtually - all, at no cost to you! To schedule a meeting with one of our agents, click HERE or call (888) 372-3999.

Our licensed, Michigan-based insurance professionals will help you find and enroll in the best Medicare plan for your unique needs.

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    Delaware Insurance Producer License No. 3003086360. All rights reserved.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, 1-800-MEDICARE, or your local State Health Insurance Program to get information on all of your options. Currently, we offer 10 Medicare organizations which offer 87 products in your area. To send a complaint to Medicare, call 1-800-MEDICARE (TTY users should call 1- 877-701-2460), 24 hours a day/7 days a week).Silvur Insurance Services LLC is a licensed and certified representative of Medicare Advantage organizations and stand-alone prescription drug plans. Each of the organizations/plans we represent has a Medicare contract. Enrollment in any plan depends on contract renewal. The plans we represent do not discriminate on the basis of race, color, national origin, age, disability, sex, sexual orientation, gender identity, or religion.This website is operated by Silvur Insurance Services LLC. Not all agents are licensed to sell all products. Service and product availability varies by state. Sales agents may be compensated based on a consumer’s enrollment in an insurance plan. No obligation to enroll. Agent cannot provide tax or legal advice. Contact your tax or legal professional to discuss details regarding your individual circumstances. All quotes are estimates and are not final until consumer is enrolled. Medicare has neither reviewed nor endorsed this information.This website does not contain a complete description of plan benefits. Call the Plan’s customer service phone number for more information. Not affiliated with the U. S. government or federal Medicare program. This is a solicitation for Insurance. Plans are insured or covered by a Medicare Advantage organization with a Medicare contract and/or a Medicare-approved Part D sponsor. Enrollment in the plan depends on the plan’s contract renewal with Medicare.