Avoid These 3 Big Mistakes During Medicare Open Enrollment

The Medicare Annual Enrollment Period (AEP) is the time to review your current Medicare plan and research what options are available to you. Doing this is the best way to get all the benefits you want for next year, while still saving as much money as possible. But, while you’re doing all this, you need to be aware of three major mistakes that you could make during the AEP that will cost you in the long run. EZ can help you prevent these major mistakes, make the whole process easier, and sign you up for a plan that is right for you, for free. 

1. Ignoring The AEP

ignorance written on a sign with a red line through it
Ignoring the Medicare AEP can lead to some financial losses.

We get it, the Medicare Annual Enrollment Period is not the most exciting time, but it is a very important time; if you choose to ignore it, you could end up facing some financial and medical consequences. Sure, if you are currently enrolled in a plan, your coverage will just automatically renew, but not reviewing it could result in you either paying more for your plan next year than expected, or getting less coverage then you need. Not only that, but your doctors could be dropped from your current Medicare plan, which will leave you facing a large bill after seeing your doctor in the new year. 

The last thing that you need while living on a fixed income is to pay a large, unexpected medical  bill for going to a doctor or the hospital. After all, the number of seniors in medical debt continues to climb, with 1 in 4 seniors approaching bankruptcy, according to the Journal of General Internal Medicine, which often results in seniors not filling their prescriptions, skipping meals, and not going to the doctor. 

2. Assuming Your Plan Is Great

Probably one of the biggest mistakes that many Medicare beneficiaries make is assuming that the plan they already have is the best plan for them, or that there is no better option. The reality is that new plans are always being made available, with insurance carriers expanding options and coverage all over the United States. There might be another plan in your area that helps you save money and offers more or less coverage, depending on your specific needs; the only way to know this is by actually researching and comparing plans, or working with a licensed Medicare agent

3. Assuming Your Health Will Not Change

person in a hospital bed with a dr pointing at a monitor screen
As you age, the more likely you will develop at least one chronic condition that needs medical attention.

If you are in excellent health, that’s awesome! Unfortunately, though, the reality is that your health could change at any time, and it could happen very quickly. In fact, more than 84% of people aged 65 plus are coping with at least one chronic condition, and often more as they age. When looking at your Medicare plan, you have to take into consideration any and all possibilities that could happen in the next year, including the possibility of your health deteriorating. Remember that Original Medicare does not cover everything, so if you think your health might change, or if you have a history of health conditions, you’ll need to take that into consideration when choosing a Medicare Plan. It’s better to be prepared for the unexpected than to have to pay unexpected bills that could lead to bankruptcy.

What EZ Can Do For You

You can avoid these three major mistakes by working with a local licensed EZ agent. Our agents work with the top-rated insurance companies in the nation, making it easier to compare plans in minutes. We will go over everything, including your current Medicare plan, your medical and financial needs, and all Medicare options in your area. We take the stress off of you by doing all the work for you – and what’s better is that we will do it all at no cost or obligation to you! To get free instant quotes for plans that cover your current doctors, simply enter your zip code in the bar on the side, or to speak to a local licensed agent, call 888-753-7207.

About The Author:
Cassandra Love

With over a decade of helpful content experience Cassandra has dedicated her career to making sure people have access to relevant, easy to understand, and valuable information. After realizing a huge knowledge gap Cassandra spent years researching and working with health insurance companies to create accessible guides and articles to walk anyone through every aspect of the insurance process.

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