Preparing for AEP: Addressing Gaps in Your Medicare Coverage

August 11, 2023
Posted in Medicare
August 11, 2023 Jonathan Nolan

Preparing for AEP: Addressing Gaps in Your Medicare Coverage

As the Annual Enrollment Period (AEP) looms on the horizon, it’s time for Medicare beneficiaries to delve into their current coverage. While Medicare offers essential healthcare benefits, it might not encompass all your individual medical requirements. With the approach of AEP, it’s prudent to seek out coverage gaps and potentially discover a plan that aligns more seamlessly with your needs.

Begin by scrutinizing your prescription drug coverage. Original Medicare doesn’t encompass prescription drugs, leaving a gap that can lead to hefty medication expenses. To bridge this void, consider Medicare Part D, which offers standalone prescription drug plans. Alternatively, many Medicare Advantage plans integrate Part D into their coverage. Make certain to assess each plan’s formulary—the roster of covered medications—to ascertain whether your regular prescriptions are included.

Turn your attention to dental and vision care, vital components of overall well-being. Original Medicare neglects these aspects, yet their significance is undeniable. Numerous Medicare Advantage plans encompass dental and vision benefits, rendering them especially appealing for those seeking comprehensive healthcare coverage.

Factor in potential long-term care costs. Original Medicare excludes long-term care services, like nursing home care and assistance with daily activities. For this void, explore long-term care insurance or specific Medicare Advantage plans with limited long-term care benefits.

Does your policy extend to hearing aids? Medicare doesn’t cater to hearing aids, which play a pivotal role in communication and quality of life. Several Medicare Advantage plans might offer partial hearing aid coverage, enhancing accessibility for those in need.

Examine your existing health status and diagnoses. Beyond Original Medicare and Medicare Advantage plans, Special Needs Plans are available to those facing specific health conditions. These tailored plans revolve around the needs of individuals, streamlining care coordination.

Medicare Advantage plans and Medigap policies stand as supplements to original Medicare, furnishing additional coverage for services beyond Parts A and B. Medicare Advantage plans, extended by private insurance companies, often amalgamate hospital, medical, and prescription drug coverage. Moreover, they may encompass extras like dental, vision, and hearing care.

Conversely, Medigap policies work alongside original Medicare, offsetting out-of-pocket expenses like copayments, coinsurance, and deductibles. This relief can alleviate the financial strain associated with medical services, providing a sense of security.

Reach out to us to arrange a consultation in anticipation of the Annual Election Period. We’re equipped to discuss these alternatives and assist you in identifying plans that seamlessly align with your needs. AEP marks an opportunity to fine-tune your healthcare coverage, ensuring that you journey forward with confidence and comprehensive support.


We welcome you to contact us if you need assistance
or to get a policy quote.