As October approaches, like clockwork the Medicare commercials begin on TV. As if Medicare isn't confusing enough already, none of us need the bombardment of hype from insurance marketing organizations, like AARP. Nevertheless, it's here and will be with us until early December. One area of confusion for many seniors has to do with the Annual Enrollment Period (AEP), which begins 15 October and ends on 7 December. The insurance companies inundate all of us with their commercials letting us know how important it is to compare rates and choose the best company. It's all fluff and no substance that's carefully designed to scare seniors and get them to make a call. What most people are confused about is what plans AEP covers. The annual open enrollment period has nothing to do with Original Medicare or Medicare supplements. The AEP is only for Part D prescription drug plan coverage or Medicare Advantage plan coverage. Medicare Advantage and Medicare Part D are private health … [Read more...]
Review Your Coverage: Take Advantage of Medicare’s 2020 Open Enrollment Period
Things happen and things change including your health and sometimes your health plan as well. Take advantage of the 2020 Medicare Annual Election Period ("Open Enrollment") to review your current coverage and make sure it is still what you need from your health plan. The Annual Election Period (AEP) is October 15 to December 7. So right now is your opportunity to think about and choose the best coverage for your needs. Also See: Medicare Advantage 2020 by the Numbers The choices you make during AEP will be effective for all of the new year. You cannot make any changes until the next AEP a year from now unless you qualify for an exception or have Original Medicare with a Medicare Supplement Plan. NOTE: AEP only applies to 2020 Medicare Advantage plans and 2020 Medicare Part D plans. Information Checklist for Comparing Medicare Plans Our information checklist will help you gather the information you need to reference when reviewing your current plan and … [Read more...]