Vol. 127, No. 10
INSIDE Understanding Medicare ➤ Pg. 1, 4
Memorials ➤ Pg. 9
Lodge News ➤ Pg. 10-18
hermannsonslife.org
October 2024
Medicare AEP crucial time to review health plans By TERESA SAATHOFF Vice President of Sales SAN ANTONIO – Medicare options are complex and sometimes confusing, and our licensed Medicare Agents want to help and educate you when determining the best plan for your healthcare needs. Medicare Annual enrollment Period (AEP): What You Need to Know The Medicare Annual Enrollment Period (AEP), also known as the Annual Election Period, is a crucial time of the year for Medicare beneficiaries. The period runs from Oct. 15 to Dec. 7 each year, and it provides an opportunity for those enrolled in Medicare to make sure they are on the right plan when evaluating their health plan and prescription drug coverage. Here is what you need to know about AEP: What Changes can you make during AEP? During AEP, Medicare beneficiaries have several options for adjusting their coverage: • Switching Medicare Advantage Plans: You can switch from
one Medicare Advantage plan to another, whether it’s from a plan with drug coverage to one without, or vice versa. • Switching from Original Medicare to a Medicare Plan: If you are on Original Medicare (Part A and Part B), you can switch to a Medicare Advantage plan which often includes dental, and prescription drug coverage. • Switching from a Medicare Advantage Plan to Original Medicare: You can drop your Medicare Advantage Plan and return to Original Medicare. You can also join a stand-alone Medicare Part D plan if you return to Original Medicare. • Changing Medicare Part D Prescription Drug Plans: You can join, switch, or drop a Medicare Part D prescription drug plan during this period.
• Updating Your Current Plan: Some plans change their costs, coverage, or provider networks every year. Reviewing your current plan during AEP ensures that it still meets your needs and budget. Why is AEP Important? AEP is important because it allows you to evaluate your Medicare coverage and make necessary adjustments. Health needs, medications, and financial situations can change, so it’s essential to review your coverage annually. How to Prepare for AEP • Review Your Annual Notice of Change: In October your current Medicare plan will mail you an Annual Notice of Change, which outlines any changes to your benefits, coverage, or costs for the coming year. • Evaluate Your Healthcare Needs: Consider any changes in your health, the medication you take, or any new medical conditions that have developed. • Compare Plans: Reach out to a licensed Hermann Sons Life Medicare Agent to compare
available plans in your area. Look at premiums, out-of-pocket costs, coverage options, and provider networks. Key Dates to Remember • Oct. 15: AEP begins. • Dec. 7: AEP ends - changes made will take effect on Jan. 1 of the following year. Final Thoughts Due to the Inflation Reduction Act, there will be major changes in Medicare in 2025. The changes can bring potential disruptions and will require careful planning and review. Take advantage of the Medicare Annual Enrollment Period (AEP) to make sure you have the best possible plan to fit your healthcare needs. By reviewing your current plan, comparing other options, and making necessary changes, you can ensure your Medicare coverage is aligned with your healthcare and financial goals for the year ahead. Reach out to a Hermann Sons Life Medicare Agent today by calling 210-527-9113. See Pg. 4 for more Medicare information.
Opt-in request now required to receive newspaper SAN ANTONIO – Many of our members have indicated they no longer want to receive the printed copy of the Hermann Sons Life Newspaper by mail. Many read it on the Hermann Sons Life website, through our Facebook page or by the email option. By the time it is received in the mail, members say it is often thrown in the trash. To be more ecologically responsible and less wasteful, the Home Office is requiring members who want to continue to receive the mailed
copy of the newspaper to opt-in. As of Jan. 1, 2025, the mailed newspaper request on all members’ policies will be reset. We understand that there are many members who do enjoy reading the printed version of the newspaper and we are happy to continue mailing it to them at their request. To continue to receive the newspaper by mail, call 210-226-9261 ext. 325 or 1-800-234-4124 ext. 325 or email: optin@hermannsonslife.org