2023 Agents must discuss effect on current Medicare coverage.

Whenever a Medicare beneficiary makes an enrollment decision, agents must explain the effect of their enrollment choice on their current coverage. Medicare (CMS) will issue guidelines on the required discussion items.

Medicare agents, such as insurance brokers or agents who sell Medicare Advantage and Medicare Supplement plans, have certain responsibilities when assisting individuals with their Medicare choices. While they are not explicitly required to explain the differences between your old Medicare plan and a different one, they do have obligations to provide you with accurate and complete information about the plans they offer.

This includes outlining the details of the changes in Medicare Plans:

1. Plan Details: Agents are expected to provide you with detailed information about the Medicare plans they are offering, including coverage options, costs, benefits, and any limitations.
2. Comparison of Plans: Although not required to compare your old plan to a new one, ethical agents often help you understand how different plans may differ from your existing coverage, especially if they believe a different plan could be more suitable for your needs.
3. Answering Questions: Agents should be prepared to answer any questions you have about the plans they are presenting, and they should do their best to address your concerns.
4. Disclosure of Conflicts of Interest: Agents are required to disclose any financial incentives or conflicts of interest they may have when recommending a particular plan.
5. Providing Materials: They should give you written materials, such as brochures or plan summaries, that explain the plan options, so you can review the information at your own pace.

It's essential to work with a reputable Medicare agent who has your best interests in mind and is knowledgeable about Medicare. They can help you make an informed decision about your Medicare coverage, including any potential changes to your current plan. If you think you might qualify for the State and federal Low Subsidies (LIS) you can contact your State Health Insurance Assistance Program (SHIP) counselor.