It’s that time of year, again. We are coming up on the Annual Election Period (AEP) for Medicare. That means you are going to be seeing a lot of commercials and receiving a lot of mail about making changes. You may be wondering what you should do, if anything.
So, what do you need to do? It depends.
The AEP is the Open Enrollment period for Medicare Advantage Plans and Part D drug plans that occurs every year from October 15th through December 7th. This is the time for those that may want to make changes which will become effective January 1, 2018. Remember that the insurance companies that offer Medicare Advantage Plans and Part D drug plans can change them from year-to-year. You will receive a letter from the insurance company called an Annual Notice of Change (ANOC) that will describe any changes they are going to make for the coming year. If you are happy with the plan and want to keep it, you don’t have to do anything. Just continue to pay your premium (if applicable) and the plan will remain in effect for 2019.
If your prescriptions have changed, you can update them at Medicare.gov. Also, if you have any changes in doctors, you can look to see if they participate with your plan. All of the new Plan information will be available Oct. 1st in Medicare.gov. You can’t make any changes until October 15th. If you want to make any changes or have questions or need assistance, contact me.
Medicare Supplements aka, Medigap policies, are not impacted by the AEP. They are guaranteed renewable as long as premiums are paid.
As always, call me with any questions, any time about your Medicare coverages. I will help you sort through the info and options. Thanks, David.
Based in the Richmond, Va area, David Higgs of Choices In Medicare specializes in helping seniors transition to Medicare. He can be reached at email: David@ChoicesInMedicare.com or go to website: www.ChoicesInMedicare.com