The Medicare Open Enrollment Period 2019 (also known as the Medicare Annual Enrollment Period or AEP) will begin tomorrow. It starts on October 15th and will run through December 7th, 2018. It is the busiest time of year for Medicare clients – the only time you can join, switch or drop Medicare plans. You cannot do it at any other time unless you are entitled to one of the Special Enrollment Periods (SEP). Notice that the Medicare Supplement (Medigap) is an exception to this rule – you may switch Medigap plans at ANY TIME. For PDP 2019 changes, review Medicare Part D for 2019.
Your Medicare Open Enrollment Period 2019 Opportunities
Here are your Medicare Open Enrollment Period options:
- Change from Original Medicare to a Medicare Advantage Plan
- Change from a Medicare Advantage Plan back to Original Medicare. Once in Original Medicare, you may consider enrolling in a Medicare Supplement (Medigap) 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 provides drug coverage.
- Switch from a Medicare Advantage Plan that offers drug coverage to a Medicare Advantage Plan that doesn’t offer drug coverage.
- Join a Medicare Prescription Drug Plan.
- Switch from one Medicare Prescription Drug Plan to another Medicare Prescription Drug Plan.
- Drop your Medicare prescription drug coverage altogether.
Useful Medicare Annual Enrollment Period (AEP) 2019 – Facts
- All Medicare Advantage Plans are annual plans ending Dec. 31, 2018. Insurance companies may either renew a plan for 2019 (with or without changes in benefits/premium) or discontinue a plan.
- If the Medicare Advantage Plan has been renewed and you do nothing during the AEP, you will be automatically enrolled in the plan for 2019.
- Your new coverage will begin on Jan. 1, 2019.
- You may make more than one election during the AEP. Your final election will overwrite all previously made elections.
Medicare Open Enrollment Period 2019 – Decision Making Process
Once you have received notice from your current insurance plan, follow the steps below:
- Assess your health status: Has your health changed in the past year? Do you need more coverage now? Do you foresee needing any major procedures/ surgeries in the next year?
- Review your current plan:
- Does it provide coverage for the services you will need?
- Does it provide services that you do not use?
- Are you satisfied with the monthly plan’s premiums, deductibles, coinsurances/copayments, and overall out-of-pocket costs?
- Is your plan network (hospitals and doctors) adequate for your needs?
- Based on the Annual Notice of Change (ANOC) you received from your provider, how your plan will be changed in terms of:
- Services
- Monthly premiums
- Deductibles, coinsurances/copayments, and overall out-of-pocket costs?
- Network
- Visit Medicare Plan Finder. This site will allow you to find and compare Medicare Advantage and Prescription Drug Plans (PDP) in your area. It provides an excellent starting point for your search.
- Contact your Medicare insurance agent. Independent insurance agencies (like Liberty Medicare) that are NOT employed by any specific insurance company, but instead represent a wide variety of carriers. Such agencies will compare numerous plans and select the one that is BEST for YOU. There is no charge to you for their services.
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For help finding the best Medicare or Individual Health Plan for you, please contact Liberty Medicare or call us at 877-657-7477.
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