Those who are new to Medicare and those who are losing group health insurance can enroll in a Medicare Supplement plan and a Part D Prescription Drug Plan (PDP) or a Medicare Advantage plan when coverage is needed.
Other Medicare beneficiaries can change Medicare Advantage and Part D Rx plans during the open enrollment period. For 2017, the open enrollment period begins October 15, 2017 and ends December 7, 2017. There is also a Medicare Advantage Disenrollment period which begins January 1, 2018 and ends February 14, 2018. There are other special enrollment periods that may allow for changes at other times.
Medicare supplement plans do not follow the open enrollment time frames. You may apply for a Medicare supplement plan at any time during the year. If you apply for a Medicare supplement plan when you are first eligible for Medicare (6 months beginning on the first day of the month in which you turn age 65), you can chose any plan and you will be accepted regardless of your health. If you are losing coverage under a group health plan, a Medicare Supplement, or a Medicare Advantage plan, you will also have guaranteed acceptance.
If you want to change a Medicare supplement at other times, you are subject to the medical underwriting requirements of the insurance carrier. These requirements differ by insurance company and some companies may not use medical underwriting for one or more of the plans they offer. We remind all Medicare beneficiaries who are enrolled in a Part D Rx plan that these plans generally change every year.
Drug formulary, deductible, drug tiers and co-pays frequently change as of January. Do not assume that the Part D Rx plan you enrolled in last year is still the best one for you for the coming year. The www.medicare.gov web site has a powerful analysis tool that will estimate your costs for all the plans that are available. The analysis covers retail pharmacy and mail order. Your Rx list is stored with a list number and password. You can edit the drug list during the year and use the list during open enrollment to evaluate your plan choice for next year. We have agents who can help you to navigate the many, and sometimes confusing, Medicare options. Contact us for help or answers to your questions.
NOTE: If you arrange a face to face meeting to discuss a Medicare Advantage or Part D Prescription Drug Plan, a scope of appointment form is required. We will send you the form ahead of time. You will need to sign and return the scope of appointment prior to the arranged meeting. This is required by the rules prescribed by the Center for Medicare Services (CMS).
If you have questions on Medicare, please contact the office and speak to either Randy, Blake, or Brad.