📆 When is AEP and What Changes Can You Make?Oct 15 to Dec 7 is your window to review or change your Medicare plans. The last plan you enroll in takes effect on January 1st.Note: AEP isn't for first-time Medicare enrollees, and Medigap isn't a free-for-all.🚫 Advertisement CautionWatch out for misleading ads. Consult trusted brokers or SHIP counselors for independent third-party advice.🗂 Important DocumentsReview your Annual Notice of Change (ANOC), Summary of Benefits (SOB), and Evidence of Coverage (EOC) to understand plan changes.🔎 Medigap vs. Medicare AdvantageMedigap plans are lifetime contracts, while Medicare Advantage plans can change yearly. Know your needs and review plans accordingly.💰 Changes in 2024 CostsPart B premium rises to $174.70/month, Part D premium base at $34.70/month, and other cost increases. 🌟 Big Changes for 2024A cap on Part D catastrophic costs is introduced, meaning $0 for medications covered after reaching the catastrophic phase.Part D base premiums are now capped at a 6% annual increase.Stay tuned for an insightful discussion that clears the fog on Medicare, making your Annual Election Period a breezeSources for this episode: KFF Changes to Medicare Part D in 2024 and 2025What is an Evidence of Coverage?KFF Statistics for reaching catastrophic coverage2024 Average Part D Premium2024 Medicare Advantage Maximum Out-of-pocket2024 Original Medicare costs2024 Medigap High Deductible Plans

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