Medicare’s Annual Election Period (AEP), also known as open enrollment, runs from Oct. 15 through Dec. 7. For clients, that window can bring a rush of mail, questions and decisions about next year’s coverage. As a financial advisor, you can help make the experience feel more manageable without becoming a Medicare expert.

Start the Conversation Early

Clients who wait until the end of open enrollment may feel pressured to make a quick decision. Reach out early to encourage them to review their coverage and ask questions. A simple check-in can help clients understand that their current plan may have changed and that they have time to explore their options.

Help Clients Understand Plan Changes

Medicare Advantage and Prescription Drug Plans can change from year to year. Premiums, out-of-pocket costs, provider networks and covered prescriptions may be different. Encourage clients to read their Annual Notice of Change (ANOC) letter and consider how updates could affect their health care and retirement budget.

Avoid assuming that last year’s plan is still a suitable fit. A client’s prescriptions, providers, health needs and financial priorities may have changed. Also, updated formularies could mean the client’s current plan no longer covers needed prescriptions. A professional review can help them compare their current coverage with available options for the coming year.

Make Coverage Differences Easier to Understand

Clients may also be unsure about the difference between Medicare Advantage and Medicare Supplement coverage. These options work differently, and the choice depends on a client’s specific needs and circumstances. Rather than trying to explain every plan detail yourself, help your client connect with a licensed insurance agent who can review the choices with them.

Make Sure Clients Don’t Navigate Medicare Alone

Medicare decisions can feel less stressful when clients know where to turn for reliable help. As a Medicare BackOffice^® referral partner, you can remain their trusted financial advisor while connecting them with licensed insurance agents who specialize in Medicare. Medicare BackOffice provides client support and helps advisors maintain strong relationships throughout the enrollment process.

Learn how the Medicare referral process works and explore the Medicare advisor FAQ for answers about partnering, referrals and available support.

Help Clients Feel More Confident This Open Enrollment

A timely conversation and a trusted source of Medicare guidance can help clients approach open enrollment with greater confidence. To learn more about partnering with Medicare BackOffice, fill out our contact form.

For Licensed Insurance Agent Use Only. Not For Distribution to the General Public

Medicare Supplement insurance plans are not connected with or endorsed by the U.S. government or the federal Medicare program.