The Medicare Open Enrollment Period (also known as the Annual Enrollment Period) can feel like a whirlwind of information, advertisements, and decisions. From October 15th to December 7th, it’s your chance to review and change your Medicare coverage for the upcoming year. But amidst all the buzz, it’s easy to fall prey to common misconceptions. At SmartMatch, we believe in empowering you with clear, accurate information. Let’s bust some of the biggest Medicare AEP myths so you can make the best choices for your health and peace of mind.

Myth #1: New, Better Plans Will Pop Up Later in AEP. Don’t Enroll Too Early!

This is perhaps the most pervasive and damaging myth, and it often leads to unnecessary confusion and even multiple enrollments!

The Reality: The vast majority of Medicare Advantage and Part D plans available for the upcoming year are released and accessible right at the start of AEP on October 15th. While there might be minor adjustments or clarifications, the core plans, benefits, and networks are known from day one.

Think of it like this: if you’re shopping for a new car model, the dealership doesn’t suddenly get a “better” version of that car halfway through the sales year. They have the models available, and you choose the one that fits your needs.

Why this myth is harmful:

• You delay making a decision: Waiting can lead to rushed choices under pressure.
• You miss out on securing the right plan: If you find a plan that perfectly fits your needs early on, why wait?
• Confusion and multiple enrollments: This is where it gets tricky. If you enroll in a plan early in AEP, then hear about “new plans” (which were actually available all along) from another source, you might be convinced to switch again. This can lead to your initial enrollment being canceled, and potential confusion about which plan you’ll actually have come January 1st.

Our Advice: Start reviewing your options and comparing plans as soon as AEP begins. If you find a plan that meets your needs and budget, don’t hesitate to enroll. Your licensed insurance agent at SmartMatch has access to the available plans from October 15th.

Myth #2: My Current Plan Will Automatically Be the Best Option Next Year.

It’s easy to stick with what you know, especially if you’ve been happy with your current Medicare plan. But assuming it will remain your best fit without reviewing it is a risky gamble.

The Reality: Medicare plans can and do change every single year. These changes can include:

• Premiums: Your monthly cost might go up or down.
• Copays and Deductibles: Your out-of-pocket costs for doctor visits, hospital stays, and prescriptions could change.
• Formularies (Drug Lists): Crucially, the list of covered medications can change. A drug you rely on might no longer be covered, or its tier (and therefore cost) could change significantly.
• Networks: Your favorite doctors, specialists, or hospitals might leave or join your plan’s network.
• Additional  Benefits: Dental, vision, hearing, gym memberships, or over-the-counter allowances can all be added, modified, or removed.

Why this myth is harmful: You could end up paying more, losing coverage for essential medications, or having to switch doctors mid-year because you didn’t review your options.

Our Advice: Treat every AEP as an opportunity to “shop around,” even if you ultimately decide to stay put. At SmartMatch, we’re here to help you compare your current plan’s upcoming changes with other available options to ensure you’re always in the best plan for your specific health and financial situation.

Myth #3: Going Directly to My Current Insurance Provider Is the Best Way to Evaluate Plans for Next Year.

Many people assume that calling the number on the back of their current insurance card is the most efficient way to shop. While that company can certainly help you, their focus is limited.

The Reality: When you speak directly with an agent representing a specific insurance carrier, they are legally limited to discussing only the plans offered by that single company. They cannot, and will not, show you plans from a competing carrier—even if a competitor’s plan is a better fit for your health needs, doctors, or budget.

Why this myth is harmful: You are getting a biased, incomplete view of the market. You may renew your plan or switch to another plan within the same company simply because you didn’t know a better option for you existed with a different carrier.

Our Advice: To truly evaluate your options, you need an independent broker. We represent multiple carriers and can show you a side-by-side comparison of all the plans available to you, ensuring you find the best value and coverage for your needs.

Myth #4: I Have to Figure This Out All By Myself.

The sheer volume of information surrounding Medicare can be overwhelming. It’s tempting to try and decipher it all on your own, or worse, just ignore it.

The Reality: You don’t have to navigate Medicare AEP alone! Independent Medicare brokerages like SmartMatch  exist to be your trusted guide.

Why this myth is harmful: Trying to go it alone often leads to:

• Missed opportunities: You might overlook a plan that offers superior benefits or lower costs simply because you didn’t know it existed or how to compare it effectively.
• Incorrect choices: Misunderstanding plan details can lead to enrolling in a plan that doesn’t truly meet your needs, resulting in frustration and unexpected costs.
• Wasted time and stress: Sifting through countless plan documents and websites is time-consuming and often confusing.

Our Advice: Lean on the expertise of a trusted, local, and independent Medicare broker. We work for you, not a specific insurance company. Our services are no cost to you, and we can:

• Explain plan changes in simple terms.
• Compare all available plans in your area.
• Ensure your doctors and prescriptions are covered.
• Help you enroll correctly and confidently.

Ready to Make Informed Choices This AEP?

Don’t let these common myths derail your Medicare planning. The Annual Enrollment Period is a crucial time to secure the best coverage for the year ahead.Contact SmartMatch today for a no-obligation, personalized review of your Medicare options. Let us help you cut through the confusion and find the right plan for you – right from the start of AEP!