Make the best decision for Medicare Open Enrollment 2016

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Medicare Open Enrollment for 2016 begins October 15 and ends December 7.  If you are on a Medicare Advantage Plan or have a Part D Prescription Plan these are important dates you need to know. Listed below is some information which will empower you to make the best  decisions regarding your options.

What exactly is Open Enrollment?

If you are on Medicare this is the time of year where you can change your Medicare health plans and prescription drug coverage for the following year to better meet your needs.

If I am happy with my Medicare Supplement do I need to participate in Open Enrollment?

If you are dissatisfied with your Part D Prescription Drug Card you may want to change your drug card.  You can explore your options by going to www.medicare.gov.  However, most individuals that have elected Medicare Supplements do not need to participate in Open Enrollment.   Your Medicare Supplement continues without you reenrolling each year.

Can I change Medicare Supplements at Open Enrollment?

You may change Medicare Supplements at any time.  However, if you are electing to change your supplement more than 6 months after you became eligible for Medicare Part B you will have to complete a medical questionnaire and go through underwriting.

Can I change Medicare Advantage Plans at Open Enrollment?

Yes, you may change your Medicare Advantage Plan at Open Enrollment. However, you need to contact the Medicare Advantage carrier.  Medicare rules prohibit a carrier representative from soliciting you.  You must contact the Medicare Advantage carrier directly.  Once you contact the carrier directly a representative may follow-up and contact you.  You can call 1-800-MEDICARE to find out what plans are in your area.

How do find a prescription drug plan that best meets my needs.

If you would like to use a stand-alone prescription drug plan, use the Plan Finder tool on www.medicare.gov.  This tool will allow you to compare plans based on the prescriptions you need, the cost of drugs and pharmacies.

Is Medicare Open Enrollment the same as ACA Open Enrollment?

The Health Insurance Marketplace of the ACA (Accountable Care Act) offers an annual enrollment period for the insured and uninsured. The marketplaces are not meant for people who are eligible for Medicare.

For further information regarding Medicare Open Enrollment and your options please visit www.medigappro.com.  You may also reach us at 1-800-535-8016 or ted@tedguy.com.