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Annual Enrollment Period FAQs
By Jay Rayl — Medicare Made Simple & TLC Insurance Group
Every year as the annual enrollment period arrives, we hear many of the same questions from hundreds of clients. Below is a listing of many of those questions and quick answers to them. For additional questions or to speak with us directly please reach out to us at 216-904-0049.
Do I have to re-enroll this year to keep my coverage?
No, you do not. If you wish to keep the coverage you currently have, you do not need to do anything. Your plan will automatically roll to the 2024 benefits as of Jan 1st. If you wish to make any changes or explore any other options that may be available, please give us a call at 216-904-0049.
Does my review or plan change have to be done in person?
Absolutely not. Many of our clients choose to do this in person and "face to face," however, both reviews AND plan changes can be done remotely and over the phone. We can also do Zoom and phone appointments. As long as you have an email address for a Zoom appointment, we can send you a link — all you need to do is click it, and we take care of everything from there. We can get signatures for changes via email, phone, or mail.
I have a Medicare supplement, should I shop that during AEP?
While the annual election period has nothing to do with Medicare Supplement plan shopping, it IS the time of year you can change your Part D prescription drug plan. If you have been on your Medicare Supplement for a few years it is always a good idea to make sure you still have a good rate on your Medigap plan. This year especially we expect to see some major changes to the stand-alone Part D plans, so make sure you review your notice of change and reach out with any questions.
I have had the same plan for years, should I look at other options?
If you feel your plan is still meeting your needs and you are happy with it, then No. Several of our more popular plan options have been very strong for many years. That being said, it is never a bad idea to at least have a phone call to discuss it. We can do complete in-depth reviews, or quick 5-minute ones. It's completely up to you.
Where is your office located?
The TLC Insurance Group – Cleveland & Medicare Made Simple office is located at 1213 Rockside Rd. Parma, OH 44134 (just past the intersection of Rockside Rd and Broadview Rd, directly next to Walgreens). We are in a long brick building on the Southside of the street. The entrance is on the side of the building between building 1 and building 2. If you are in the Warren/Youngstown area, we can also meet with you at our main TLC office located at 8775 East Market St. Warren, OH 44484.
I forgot I needed to change something during AEP — am I stuck?
That is a Yes and No question. Between Jan 1st and March 31st we have the OEP or the Open Enrollment Period. During that time you can move from one "Like" Medicare Advantage Plan to another, or go back to original Medicare and enroll in a stand-alone Part D plan. You should try to get everything done during the AEP period and look at this time frame as an "Oops or correction" period.
What is changing with Medicare Part D for 2024? (IMPORTANT)
As part of the Inflation Reduction Act of 2022 there are some changes to limit the "exposure" Medicare recipients have when it comes to high cost prescription drugs. Phase 1 of this change will be effective Jan 1st, 2024. In 2024, the 4th level of Part D coverage, which is known as the catastrophic phase, will no longer have any cost share for the member. Currently if you get to the other side of the coverage gap or the "Donut Hole" you start paying 5% of the cost of your meds. If we are talking "normal" cost medications this is not a lot, but some people have medications that are several thousand dollars a month. This will significantly lower their exposure. This will also be having a negative effect on other parts of most plans. For Medicare Supplements with "stand alone" Part D plans, we are seeing plan premiums go up to make up for this new cost. On many of the Medicare Advantage plans, we are not seeing the level of benefit improvements we have seen the last few years. In reality for 2024 if your plan didn't really lose any overall value, we are looking at it as a win. For a more detailed description of the prescription changes please view our blog entry on 2024 Part D changes.
I keep seeing ads for all of the things I am "missing" that I am "entitled to". Are those ads real?
Many of these benefits are only on Medicare Advantage plans, so if you have a Medicare Supplement, they are not available to you unless you wish to change to a Medicare Advantage plan — if so, call us! There are truths to some of the information in a lot of these ads. Many benefits are available, in certain places and on certain plans. However, many of these are national ads, and not available in all areas. Some of the benefits talked about also require you to be on your state's Medicaid program in addition to Medicare. This is especially true for the ads that say get $150+ back on your social security check. Now there ARE plans that give you a "Part B buyback" (refunding part or all of your Medicare Part B premium), however it is important to figure out if the benefits you lose to get the money back is worth the money you get back. There is always a give and take. If you are interested in the give back plans in your area, we need to discuss the pros and cons and weigh them out based on your individual needs.
I keep getting calls "from Medicare" telling me that I am missing something; am I?
First off, Medicare does NOT make outbound phone calls for things like this. If someone calls "from Medicare" to talk about benefits or options, they are almost guaranteeably lying to you. We are seeing a tremendously high volume of scam and spam/telemarketer calls going out to people regarding Medicare right now. Medicare will NEVER recommend a specific plan, and cannot get you "all sorts of additional benefits you are entitled to." In addition to that, Medicare laws prevent unsolicited calls (cold calling), so the person on the other end of the phone is already breaking Medicare laws before they even talk to you! To help yourself from getting scammed, a good rule is NEVER give out your Medicare number to someone you don't 100% trust. Without your Medicare number these plan scammers cannot change your plan without your knowledge. New Medicare marketing rules effective October 1st should, in theory, really help slow these deceptive phone calls.
Have more questions?
Call us at 440-613-0083 or 216-904-0049. We're always here to help simplify your healthcare process.