AEP 2019 is here so you need to know what to expect. Medicare beneficiaries have the option of making changes to their existing coverage. The government-run program features a number of plans to choose from and as your health needs evolve, you may find that other types of coverage suite you better than what you may already have.
Medicare’s open enrollment runs from October 15 through December 7. During this period, you can change from Original Medicare to a Medicare Advantage Plan or vice versa. Beneficiaries also have the chance to switch from one Medicare Advantage Plan to another or choose one that doesn’t offer drug coverage to a plan that does.
Other options during open enrollment include joining a Medicare Prescription Drug Plan to dropping your coverage completely.
What to know about Medicare and open enrollment
When choosing your Medicare coverage this year, you should know more about the individual plans themselves in order to make the best decision for your health needs. It is important that you speak with a reputable, licensed agent to help determine the right plan for you.
It helps to know that when you have a Medicare Advantage plan, it means you can obtain benefits offered through Parts A and B through a private health insurer. MA plans have additional services that aren’t offered through Original Medicare including dental, vision and prescription drug coverage.
If you’re going with a Medicare Advantage plan, make sure your doctor is still accepting that plan, otherwise, you’ll have to pay more to see them because they’ll be out of network.
Although Medicare open enrollment runs from October 15 through December 7 you have until February 14 to drop your Medicare Advantage plan and return to Original Medicare. Those who choose to go back to Original Medicare during this “disenrollment” time can also purchase Part D coverage.
Oftentimes, people with Medicare Part D also have Medigap to help cover out-of-pocket costs that can accrue.
While evaluating coverage options, be sure to take into consideration all of your costs including monthly premiums, deductibles and copays. This can help you get a better idea of what your costs will be for each plan. Click the banner below to request information about which plan may be right for you and we will send your information to one of our licensed partners to help answer any questions.