For many people, Medicare costs feel like an unavoidable part of retirement. Premiums, deductibles, and out-of-pocket expenses can add up quickly, especially when subtle changes to your plan each year slowly increase your costs. As a result, it’s common to wonder if you’re missing out on saving opportunities.
The key to lowering your total Medicare spending lies in one simple step: review your Medicare plan every year ahead of the Annual Enrollment Period (AEP), which runs from October 15 to December 7. Exact Medicare works hard to ensure your annual review becomes a real Medicare savings story. Here’s how the process works and why so many people trust us to help them save money on Medicare.
Coverage Check: Does Your Plan Still Fit?
Your free, no obligation Medicare Advantage Plan review begins by scrutinizing your current coverage. What felt right a year ago may not be the right fit today. It doesn’t help that insurance carriers often adjust networks, benefits, or rules without much notice. During your review, we look for:
- Premium increases that affect your monthly budget
- Network changes that limit your provider choices
- Benefit adjustments that raise your out-of-pocket risk
- Plan discontinuations that require you to choose a replacement
Many Exact Medicare testimonials come from people who discover their plan has shifted in ways they hadn’t realized. A quick coverage check is enough to get them back on track.
Cost Analysis: How Much Are You Spending?
Premiums get the most attention, but they’re only one piece of the puzzle. When you add copays, coinsurance, and deductibles, the real story often looks very different. Our cost analysis adds up the following anticipated costs for the coming year:
- Monthly premiums
- Prescription drugs
- Out-of-pocket costs for primary care visits, specialists, labs, and imaging
- Hospital and urgent care scenarios
We then compare those numbers across available plans. This side-by-side approach reveals opportunities for Medicare cost reduction that you might miss if you only look at the premiums.
Prescription Review: Do Your Medications Match Your Plan?
For many people, prescriptions account for the bulk of their out-of-pocket costs. Formularies change every year, and even minor tier adjustments can increase your pharmacy bill. During an annual review, we:
- Review every medication you currently take, including dosage and frequency
- Check each plan’s formulary to confirm coverage
- Identify drug tier placement to predict your monthly and annual costs
- Verify preferred pharmacies so you pay the lowest possible copays
Many of our clients have saved hundreds of dollars per year simply by switching to a plan that placed their medications in a lower tier. Others found savings by using a different preferred pharmacy. These real Medicare experiences show the value of a focused prescription review.
Provider Confirmation: Are Your Doctors In-Network?
Continuity of care matters. You want to see the doctors you trust without facing surprise out-of-network bills. Networks can shift from year to year, so confirming that your providers are still included is an essential part of the review. We check the availability of the following in your plan network:
- Primary care physician
- Specialists you see regularly
- Preferred hospitals and clinics
Checking these details during your annual review protects your relationships with the providers you trust.
Savings Programs: Are You Missing Out on Hidden Assistance?
Not every cost reduction comes from changing plans. You may be eligible for state or federal programs that lower your premiums and out-of-pocket expenses. Many of our customers don’t realize they qualify until we walk them through the options. We check eligibility for programs like:
- Medicare Savings Programs (MSPs), including Qualified Medicare Beneficiary (QMB), Specified Low-Income Medicare Beneficiary (SLMB), Qualifying Individual (QI), and Qualified Disabled and Working Individual (QDWI)
- Extra Help (Medicare Part D Low-Income Subsidy), which lowers the cost of prescription drugs under Part D
- Medicaid, a state-level assistance program for those who meet income and asset requirements
- State Pharmaceutical Assistance Programs (SPAPs), which cut drug expenses for participants in certain states
- Qualified Small Employer Health Reimbursement Arrangement (QSEHRA), available to those who are still working at a small business that offers this benefit
Finding out you qualify for one of these programs can completely change your Medicare savings story.
Plan Modifications: Should You Stay or Switch?
The finish line of your annual review is in sight. Now it’s time to decide: will you keep your current plan, or have you found another that offers better value? Here’s how we help you finalize your decision:
- Make side-by-side comparisons so you see how the numbers add up
- Weigh the pros and cons of each option based on your priorities
- Assist with transitioning to a new plan if a switch makes sense
In the end, our goal is to help you save money on Medicare while keeping the coverage that works for your life. This might mean switching to a plan that cuts hundreds off your annual pharmacy bill. It might mean lowering your out-of-pocket maximum to protect you in case of a tough health year. Or it might mean being relieved to learn that your current plan is still the best fit. In each case, a review has the potential to uncover something meaningful.
Schedule Your Annual Review Today
Medicare is complicated, but when you sit down with an advisor who explains everything clearly and checks your plan from every angle, you walk away with confidence. Exact Medicare serves retirees nationwide with customer-focused services and an emphasis on your individual needs. Bigger companies often prioritize profits, but we concentrate on people. Through honesty, accountability, and ongoing support, we help transform real Medicare experiences into stories worth telling.