Who You Talk to Could Cost You

It’s been a few weeks since I’ve written an actual newsletter instead of just sending out a flyer or two. First, I went on a long overdue summer vacation to France (highly recommend). Then I picked up the head cold that’s going around (don’t recommend) because, you know, airports. I’m glad to be on the mend.

Medicare Annual Enrollment starts officially tomorrow, October 15. You’ll be able to select new Medicare Advantage and Medicare Prescription Drug plans through December 7. In some states you’re also able to pick up or change Medicare Supplement plans without a health check or pre-existing condition limitations.

At the same time many of you may receive plan termination notices – your current insurance is going away. Up to 5 million people will be impacted nationally. If you don’t act on a termination, you revert to Medicare Parts A & B only in January.

In other words, Annual Enrollment is a big deal.

You have options to get support for your shopping.

• Most senior centers have free appointments available.

• You can use Medicare.gov to shop. (Hint: check out my webinar tonight on how to do that!)

• You can talk to a local insurance agent.

• And, of course, I’d be glad to help. Contact me if you’d like to schedule.

I want to point out the difference between insurance agents and Certified Insurance Consultants because it can matter this year.

Insurance agents are licensed by your state, then contract with the insurance companies whose products they want to sell. They don’t have to sell every plan or every type of plan available. You don’t pay them. The insurance company pays them when they make a sale. Here’s the gotcha. Where I live there are 10 prescription drug plans and 23 Medicare Advantage plans available in 2027. If you talk to an agent, they may only sell five of them. Are those five the best for you? Maybe. Maybe not.

The twist for 2027 is that insurance companies are only offering commissions on some of their Medicare plans. They may offer six plans in your area, for example, but only pay the agent to sell three of them that they want to grow. My concern is that you may be steered to a plan that isn’t the best choice for you.

No, I don’t think insurance agents are bad. However, I’m aware that they need to keep a roof over their heads too. So, ask questions if you work with an agent. Make it a conversation.

By comparison, insurance consultants ask you about your needs, worries, finances and priorities. Then we look at all the plans in the market, make recommendations and help you enroll. You pay for our time, but you know there aren’t conflicts of interest.

Happy Medicare Annual Enrollment. Let me know what else you’d like to know about the process. I’m here to help!

Don’t forget: You can get a copy of my book, Medicare 101: The Good, The Bad & The Gotcha, to learn more about Medicare and your enrollment choices. My website offers e-books. Contact me for physical copies.