Open Enrollment Period - Medicare Insurance Benefits

Next Medicare Open Enrollment Period - October 15, 2015 to December 7, 2015

*If you currently have Original Medicare and a Medicare Supplement Plan (with or without a Stand Alone Part D Prescription Card plan), AND you are satisfied with your current plan, then you DO NOT HAVE TO DO ANYTHING during this Annual Enrollment Period.*

If you have any questions, call us at 1 800 376-0824 or email us at support@MedicareInsuranceBenefits.com.  You can also schedule a telephone appointment to speak to one of our friendly licensed agents HERE.

PRESCRIPTION DRUG PLANS (PART D)

  • If you do not have a Prescription Drug plan (Part D), then there is a penalty for every year you delay your enrollment in a Prescription Drug plan.  This penalty is 1% of the national standard premium for every month that you could have had Part D coverage, or equivalent credible coverage, yet chose not to enroll.
  • Call us at 1 800 376-0824 and we can discuss this with you, or if you want to find out how much a Part D Prescription Drug plan costs, then go to our website at www.MedicarePartDNow.com and enter your prescription information and we will find the best plan for you.

TWO (2) OPTIONS FOR MEDICARE HEALTH COVERAGE

Unless you have limited income and resources (see bottom of this page), then there are basically 2 primary options for Medicare Health Coverage:

1.     A Medicare Advantage Plan (with or without Drug coverage), OR

2.     Original Medicare and a Medicare Supplement Plan (with or without a Stand Alone Part D Prescription Drug plan).

There are variations of each of the above 2 options, and the best way to make sure you get the best coverage for you is to discuss your needs and preferences with us at 1 800 376-0824.  Here is a limited resource that might help you consider which plan is right for you:

  • Reasons to consider a Medicare Advantage (MA) plan:

  1. You live in an area that has a MA plan that you like. 
  2. You may be in excellent health, and want to lower your premiums (however you will incur deductibles and co-pays in the event of needing health care).
  3. You can find a MA plan that offers extra benefits such as Vision, Dental, Hearing, Podiatrist, Chiropractic, Gym or Fitness services not covered by Original Medicare & a Supplement.
  4. You don’t travel often, and if you do, are ok with only getting coverage for emergency care outside the area in which you live.
  5. You are OK with election period restrictions (MA plans can only be changed during the Annual Election Period unless you are eligible for a Special Enrollment Period)

  • Reasons to consider Original Medicare & a Medicare Supplement (Medigap) plan:

  1. You don’t live in an area that has a MA plan you like or you just moved outside of your current MA plans service area.
  2. Your Doctor or preferred hospital is not in the MA plan’s network, or you want the freedom to choose any provider (most accept Original Medicare).
  3. You want predictable out of pocket costs.
  4. You have health conditions and have a lot of doctor visits (you will have deductibles and co-pays if you choose a MA plan).
  5. You travel often and want coverage throughout the US. 
  6. You want a plan that is not subject to election period restrictions (Original Medicare and Medicare *Supplement plans can be purchased throughout the year (*subject to underwriting for most plans unless an Open Enrollment Period  or Guaranteed Issue period applies).
  7. You generally have more Stand Alone Part D prescription Drug plans available to choose from.

  • Reasons to change from one Medicare Advantage Plan to a different Medicare Advantage Plan:

  1. You move to an area that your current plan doesn’t provide services for.
  2. You have a big change in your prescriptions, and want to make sure you get the best plan for the prescriptions that you take.
  3. The Drug formulary changes in your current plan and your Prescriptions are no longer covered.
  4. You want to change your premiums and are willing to consider different deductibles, Co-pays, and out of Pocket maximums.
  5. You want to find a plan that offers Extra Values such as Vision, Dental, Hearing, Podiatrist, or Chiropractic services.
  6. Your current MA plan premiums increase.

  • You want to keep Original Medicare but might need to change from one Medicare Supplement to another Medicare Supplement:

  1. You get a significant premium increase from your current Medicare Supplement insurance company.

  • Reasons to change from one Stand Alone Prescription plan (Part D) to another Stand Alone Prescription plan:

  1. The Drug formulary changes in your current plan, and your Prescriptions are no longer covered.
  2. You have a big change in your prescriptions, and want to make sure you get the best plan for the prescriptions that you take.
  3. Your current Prescription plan premiums and/or deductibles increase.

*If you have limited income and resources, you should apply to your State Medicaid office to determine eligibility for various programs.  You can call 1 800 633-4227 and say “Other Choices” when prompted, then “limited income” when prompted, then “Medicaid office”, and then the name of your state when prompted for your State’s Medicaid number.