Medicare Open Enrollment Begins Oct. 15
The Medicare Open Enrollment Period, more commonly known as Medicare Annual Enrollment Period (AEP), is quickly approaching. From October 15 through December 7, Medicare eligible members may make changes to their Medicare Advantage or prescription drug plan. Any plan changes made during this time will become effective on January 1.
Who Does This Effect?
Anyone who is Medicare eligible may take part in the open enrollment. Eligibility for Original Medicare (Parts A & B) includes:
- Individuals at age 65,
- Individuals under age 65 and qualify on the basis of disability, and
- U.S. citizens or legal residents who have lived in the U.S. for at least 5 consecutive years.
Everyone has the same benefits available to them through Original Medicare. However, Medicare supplement plans, prescription drug plans and Medicare Advantage plans vary by the county of residence. Caravus is licensed and certified to personally help clients find the right Medicare plan.
What Changes Can Be Made?
- Join a Medicare Prescription Drug Plan.
- Switch from one Medicare Prescription Drug plan to another Medicare Prescription Drug plan.
- Drop Medicare prescription drug coverage completely.
- Change from a Medicare Advantage Plan back to Original Medicare.
- Change from Original Medicare to a Medicare Advantage Plan.
- Switch from one Medicare Advantage Plan to another Medicare Advantage Plan.
- Switch from a Medicare Advantage Plan that doesn’t offer drug coverage to a Medicare Advantage Plan that offers drug coverage.
- Switch from a Medicare Advantage Plan that offers drug coverage to a Medicare Advantage Plan that doesn’t offer drug coverage.
The Medicare Annual Enrollment Period does not provide members the option to make changes to their Medicare Supplement Insurance (Medigap) policies. Medicare Supplement policies are sold by private insurance companies; and, in general, enrollment periods are determined at the carrier level.
Please feel free to contact Caravus with questions regarding the Medicare Open Enrollment Period.