Your Medicare Annual Enrollment Period (AEP)
Medicare Drug Coverage (Part D)
People with Original Medicare can join a stand-alone prescription drug plan (Part D), switch drug plans, or drop drug coverage.
If you choose a Medicare Advantage HMO or PPO plan without drug coverage, you can’t join a separate Medicare drug plan . Certain types of Medicare Advantage plans don’t include drug coverage such as Medical Savings Account (MSA) and some Private-Fee-for-Service (PFFS) plans. Thus, you can join a separate prescription drug plan (Part D) with a MSA and some PFFS plans.
AEP for People New to Medicare
The first month you have Medicare Part B and age 65 and older, you have a six-month Medigap Open Enrollment Period . You may not be able to buy a Medigap policy or may cost you more after this one-time enrollment period. In addition, certain states may offer Medigap plans to people under the age of 65 who have a disability or ESRD.
Medicare AEP Checklist
This AEP checklist can help get you ready for the Medicare Annual Enrollment Period (AEP).
Healthcare Providers List
Prescription Drugs List
Medicare Plans – Costs and Coverage
Healthcare Providers List
Medicare Advantage (MA) plans have networks and doctors can drop out of MA plans. If keeping your doctors are important, please check them in your plan’s provider directories. Your Annual Notice of Change (ANOC) letter will include information on how to access these online directories.
Prescription Drug List
Does your Medicare Plan cover your prescription drugs? First, create a list of your prescriptions. Then compare the plan’s drug formulary . Does it list the drugs you currently take? What cost applies to that assigned drug tier?
Medicare Plan Costs
When choosing a Medicare plan consider the costs. Original Medicare has no limit on your out-of-pocket costs unless you have a Medigap plan. However, all Medicare Advantage (MA) plans have a maximum out-of-pocket (MOOP) limit. After you reach this limit, you pay nothing for covered services.
PPO plans have different MOOP costs for in-network and out-of-network care. Furthermore, you can shop for an MA plan with an out-of-pocket cost that fits your budget. PPO copays for out-of-network services may cost you more.
With Original Medicare and some MA plans, you pay the Part B annual deductible and monthly premiums. In addition, your MA plan may have a deductible and premium. Medicare Advantage copayments may vary from plan to plan.
Medicare Plan Coverage
If you enrolled in Medicare Part B within the last six months, you could drop Medicare Advantage and buy any Medigap plan sold in your state. Furthermore, during this Medigap Open Enrollment Period, a Medicare Supplement company cannot deny you coverage.
Medicare Advantage (MA) plans cover all the services of Original Medicare and may offer extra benefits. However, if an MA plan stops participating in Medicare, your coverage will end. Then you can either join a different MA plan or return to Original Medicare.
How to Choose the Right Medicare Plan?
The licensed agents at Senior Healthcare Direct can assist you in choosing the right plan for your needs. Whether you want to enroll in a Medicare Advantage or Medigap plan, we can help you during the Medicare Annual Enrollment Period. Call us at 1-833-463-3262 or get your quote.