In about a month the Medicare open enrollment period begins again. Media blitzes will begin and we will all be bombarded with information designed to unsettle us. So who should be concerned?
This enrollment process affects individuals who are Medicare eligible, but not all Medicare beneficiaries are 65 and older. Many younger individuals are covered by Medicare due to various disabilities so these folks should also heed the call.
Individuals who are covered by Medicare supplement policies should not be concerned about that coverage as the Open Enrollmen rules do not apply to these policies. Other than:
** at the end of the first year on a Medicare Advantage plan,
** if the individual leaves the Medicare Advantage plan service area or
** if the Medicare Advantage plan pulls out of their geographic area
Insureds on Medicare supplement policies must go through medical underwriting to change plans or to change to a different insurance carrier. The Open Enrollment does not provide a blanket opportunity to make changes in these plans.
Individuals who have Medicare Advantage plans and Medicare Part D (prescription) plans should prepare for an opportunity to review plans and make changes with January 1 effective dates. Information should arrive from the providers of these plans soon with details of changes in rates and changes in coverage.
Hold onto these notifications and in my next post I will explain why reviewing these changes is important and how to best accomplish this analysis.
For assistance in the decision that are ahead, contact us at Czajkowski Dumpel & Associates, Inc. – We are here to help!