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Fall Open Enrollment is on the Way!

Sep 01, 2020 12:11PM ● By Colleen Callahan

Colleen Callahan

Fall Open Enrollment is on the Way!

By Colleen Callahan, Callahan Insurance

The fires, heat wave, poor quality air, and ongoing pandemic have all impacted the ability to plan anything in the near or distant future. It is discouraging. I had a Face Time “visit” with one of my friends from college and his wife. They are pediatricians and feel we need to stop trying to make life seem normal; they emphatically said, “It is not normal.”

The Medicare annual election period, or open enrollment period, begins on October 15 and ends on December 7. In September, we send letters to our clients reminding them it is time for review. Applications for different, more suitable plans must be submitted by December 7, 2020. All plans begin anew on January 1, 2021. Medicare drug plans adjust annually. Changes could be for premiums, deductibles, networks, or the list of covered medications. If a company eliminates a plan, you could be moved to a more expensive one if you do not communicate your wishes.

Knowing if a change in plan or company is necessary requires research. An independent agent can help with the analysis. Those with prescription drug plans must review the material sent to them in October by the insurance company. Carefully review the “Annual Notice of Change (ANOC).” Be sure the coverage still meets your needs for the coming year. Be very certain your medications will be treated the same next year. If you are satisfied with the plan and it is still being offered, you don’t need to do anything.

Get ready for the onslaught of mail this fall. Keep an eye out for your ballot and for the Annual Notice of Change! Make sure to read both very carefully and take the action needed! We can help by telephone or Zoom so you can be sure to have the drug coverage you need next year.

Colleen Callahan, CLU, CASL, LUTCF

[email protected]