Seniors Save Significantly When Switching Drug Plans During Medicare AEP

LOS ANGELES - Aug. 28, 2023 - PRLog -- Seniors saved $700 or more by switching prescription drug plans during Medicare's prior Annual Enrollment Period (AEP) according to a just-conducted survey by the American Association for Medicare Supplement Insurance (AAMSI).

"Medicare's Annual Enrollment Period (AEP) provides millions of seniors with the opportunity to get better coverage for the coming year," states Jesse Slome, AAMSI director. The organization just released findings of a study of Medicare insurance agents in anticipation of AEP 2023 which begins October 15^th.

"Local Medicare insurance agents are an overlooked resource for Medicare drug plan comparisons," Slome notes. "With a quick phone call or email, many can tell a senior if they can get better drug plan coverage for the coming year."

In anticipation of the imminent Medicare Annual Enrollment Period, Slome shares the following tips for seniors. "First watch for your annual notice of 2024 drug plan changes. This is mailed to all plan enrollees in September," the Medicare insurance expert explains. "If you don't get your copy, call your plan and request one."

"Prepare a listing of the drugs you take including their name and the dosage," Slome adds. "You can provide this to a qualified Medicare insurance agent who can do a plan-to-plan comparison."

According to AAMSI, the typical senior currently has 60 different Medicare drug plans available, including 20 or more stand-alone Part D drug plans. "We expect most plans will make changes impacting costs for 2024," Slome shares.

The Association's report of how much seniors save on drug plans can be accessed at https://medicaresupp.org/medicare-prescription-plans-2024....

To find local Medicare insurance agents, the Association makes available the nation's leading online directory. It is free and private to access via the organization's website at https://www.medicaresupp.org/find-local-agent/.

The American Association for Medicare Supplement Insurance advocates for the importance of consumer awareness and supports insurance and financial professionals who market Medicare insurance solutions.