2018 Medicare Supplement Insurance Open Enrollment Period/ 2018 Annual Enrollment/Election Period. Which applies to me? Do I have to make any changes this year?
If you’re on Medicare, like most people, it’s easy to get confused on if you need to make any changes annually to your Medicare supplemental coverage. For example, if you have Medicare Supplement OR Part C Medicare Advantage coverage.
This brief video outlines what the differences are between the Annual Medicare enrollment/election period- and your one-time Medicare Supplement Open Enrollment period.
If you’re already on Medicare, then you have an annual enrollment period that goes from 10/15- 12/07 of each year. During this time, you can make changes to your Medicare Part D drug coverage, as well as your Medicare Advantage coverage (if applicable).
When turning 65 or if you’re 65 and older, and your Part B starts for the first time, this triggers your one-time, Medicare Supplement Open Enrollment Period, and it lasts for 6 months. This time period allows you to buy any Medicare Supplement plan available in your area, with no health underwriting involved. You can’t be denied.
If you have a Medicare Supplement plan, the annual enrollment/election period doesn’t really apply to you, as your Medicare Supplement plan is guaranteed renewable for life as long as premiums are paid. Your coverage and benefits remain the same from year to year. If you feel like you want to switch/change your Medicare Supplement insurance plan, you can apply to do that 365 days a year. However, if you’re outside of your Medicare Supplement Open enrollment period, you will have to answer health questions and be approved for the plan in order to change. If you feel you’re paying too much, please contact me.
During the Annual Election Period: Which in now through Dec. 7th
You may add or drop Medicare Advantage coverage and/or drug coverage, or return to Original Medicare and buy a Medicare Supplement plan (if you qualify).
No action is needed if you choose to keep your Medicare Advantage plan. Although, you should check for any benefit changes under the plan for the upcoming year.
You may make more than one enrollment choice during the Annual Election Period, but the last one made prior to the end of the Annual Election Period, as determined by the date the plan or your agent receives the completed enrollment form, will be the election that takes effect.
If you have any questions about your current coverage and to see if it would be beneficial to make any changes, please reach out to me.
My name is Chad Cason and I just want you to know that at my agency we truly do care about people as well as helping them to make the right decision.
Direct Line: (888) 901-4870
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