Medicare FAQs: What Owensboro Needs to Know for AEP

Medicare can feel confusing, especially during the Annual Enrollment Period (AEP). From October 15 to December 7, many Owensboro residents have questions about what plan is right for them. At Elite Risk Advisors, we help make Medicare simple. Here are two of the most common questions we hear.

What is the difference between Medicare Advantage and Medicare Supplement?

This is, by far, the number one question we hear in Owensboro.

• Medicare Advantage (Part C): A private plan that replaces Original Medicare. These plans often include extra benefits like dental, vision, and drug coverage. But you must use the doctors and hospitals in the plan's network.
• Medicare Supplement (Medigap): This plan works with Original Medicare. It helps pay costs like copays and deductibles. Medigap does not include drug coverage, so you need a separate Part D plan for prescriptions.

Which one is better?
It depends on your health, your budget, and how you want to pay for care. Some people prefer lower monthly costs. Others prefer more predictable out-of-pocket costs. At Elite Risk Advisors, we sit down with Owensboro residents to help them compare options and choose what fits best.

Can I change my Medicare plan outside of open enrollment?

In most cases, you can only change your plan during the Annual Enrollment Period in the fall. But there are a few exceptions:

• Special Enrollment Periods (SEPs): If you move, lose other coverage, or have a major life change, you may qualify to change your plan.
• Medigap Open Enrollment: This is a one-time, six-month window that starts when you first enroll in Medicare Part B. During this time, you can choose any Medigap plan without health questions. After that, changing plans may require you to answer health questions.

Medicare rules can be tricky, but you do not have to figure it out alone.

Get Help Before AEP Closes

Medicare is too important to leave to chance. At Elite Risk Advisors, we help Owensboro residents review their options and make confident choices during Annual Enrollment. Give us a call at 270-225-4445 today!