By Christian Regalado
It’s that time of year again! If you get your health care through a Medicare Advantage plan, AEP is the Annual Enrollment Period (Oct. 15-Dec. 7) during which enrollees are able to change Advantage and prescription drug plans for 2027. If you are enrolled in one of these plans, you’ve probably received your Annual Notice of Change by now, in which your carrier informs you about changes being made to your plan or whether the plan you have will remain available next year. If your current plan is set to be discontinued next year, you have the opportunity to enroll in another Advantage plan or, if you prefer, you may go back to Original Medicare and enroll in a supplement plan without facing underwriting since your plan is being discontinued.
A lot of changes are happening in 2027! Much of the post-COVID Medicare funding has been reduced, and the cost of health care, including prescriptions, has increased. Insurance carriers are reducing benefits or no longer offering plans that are unprofitable. There will also be network changes, meaning changes to which doctors and hospitals accept Advantage plans. No one likes change, especially as we get older, but at times we have no other choice. The plan you’re on may have had benefits reduced, yet still may offer you the best value available. You can only know by comparing all of your options. This is not a year to assume you still have the best Medicare Advantage plan. I highly recommend comparing plans for 2027. This is where a certified broker can assist you.
In the past, I haven’t put a lot of emphasis with my Medicare Advantage clients on hospital indemnity plans and/or dental plans, as Medicare Advantage had decent coverage. With the changes in medical deductibles, higher out-of-pocket costs and lower dental benefits, these ancillary plans will provide you with much more comprehensive coverage. I have spent a lot of time over the last few months reviewing carriers in our area to find low-cost options. Give me a call or visit my website, www.30ahealthins.com, to review affordable extra coverage.
If you have a Medicare supplement plan, you don’t need to do anything since these plans don’t change. Your prescription drug plan, however, may change next year. Brokers are still not able to enroll you in a prescription drug plan, but as a courtesy, if you are a client, they can help guide you. Medicare.gov is also a great resource to compare PDP plans.
Individual insurance through the Marketplace open enrollment starts Nov. 1. For individuals with income below 400% of the federal poverty level, premium tax credits will still be available in 2027. If finding a low-deductible plan is overpriced for you, consider opting for a high-deductible plan along with a low-cost indemnity plan. This combination can be a great option for comprehensive coverage at a lower cost. I work with many carriers and can help guide you.
If you have not done so already, call a broker and set up an appointment. I will be available Wednesday-Friday at the Walmart in Niceville, but I can also come visit you or meet over the phone. Having someone you can trust to navigate through next year’s health care policy changes and choices will be truly valuable. Call me. I will be happy to be that person. I’m local and always available.
(850) 687-7606 | christian@30ahealthins.com
