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The Medicare Open Enrollment Trap: A Conversation with Amy Terrell
Manage episode 507894058 series 3602679
Shannon Davis에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Shannon Davis 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
It’s that time of year when decisions about healthcare coverage can make or break your peace of mind. For many, Medicare open enrollment feels like navigating a maze of deadlines, mailers, and fine print. But with the right guidance, this season doesn’t have to be overwhelming. It can be an opportunity to ensure your coverage actually fits your life.
In this episode of Compounding Change, Shannon Davis welcomes back Medicare specialist Amy Terrell to cut through the noise. Amy brings years of experience helping people understand their options and avoid costly mistakes, making complex rules easy to follow.
From prescription drug coverage to switching between Medicare Advantage and supplemental plans, Shannon and Amy dive into the most common choices and missteps that happen during open enrollment. They discuss how employer coverage interacts with Medicare, when special enrollment periods apply, and why it’s so important to have an advisor you can trust.
If you’re staring at a pile of Medicare mailers or wondering if your current plan is still the right fit, this episode will give you the clarity and confidence you need.
Key Takeaways:
– Open enrollment runs from October 15 to December 7 each year
– You can switch between original Medicare, Medicare Advantage, or change prescription drug plans during this time
– Annual reviews are critical since provider networks and coverage details often change
– Bring a list of doctors, hospitals, and prescriptions when meeting with a Medicare consultant
– Don’t assume last year’s plan is still the best. Review it against current needs
– Common mistakes include ignoring reviews or missing changes in networks and drug coverage
– Public safety workers and retirees should also assess Medicare alongside employer coverage
– Prescription drug costs and caps change year to year, making review essential
– Special enrollment periods may apply after life changes such as retirement or relocation
– Avoid robocalls and 800 numbers and seek referrals and trusted advisors instead
The Compounding Change Podcast is brought to you by Jenna Stoliker at https://jennastoliker.com/
Chapters
00:51Introduction
02:37 What is Medicare Open Enrollment
04:03 Open Enrollment vs Initial Enrollment
05:08 Decisions to Make
06:08 Considering a New Plan
08:57 Medicare for Public Employees and First Responders
12:14 Reviewing Drug Coverage
14:53 Life Changes
16:59 Trustworthy Resources
Helpful Links:
Amy Terrell, Medicare Agent /MyMedicareNetwork.com: https://mymedicarenetwork.com/
Jenna Stoliker: https://jennastoliker.com/
Shannon Davis: https://www.daviscompoundingchange.com/
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Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions.
Securities offered through Cambridge Investment Research, Inc., a registered
Broker/Dealer, Member FINRA/SIPC.
Investment Advisory Services are offered through Retirement Plan Advisors, LLC, a Federally Registered Investment Adviser. Cambridge Investment Research and Retirement Planning Advisors are not related to DavisCompoundingChange.com or this podcast.
Please note that investment involves risk, and no statements made in this recording are indicative of future performance.
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