Medicare Annual Enrollment Period – 2018

Medicare Annual Enrollment Period Starts October 15It’s approaching Medicare’s Annual Enrollment Period (AEP) for any changes you want to make to either your Medicare Advantage Plan or Part D Prescription Drug Plan.

You can make changes to these plans from October 15 – December 7.

Medicare will be releasing the new plan information sometime later this week or next week.

But keep in mind, by the end of September, you should receive your 2018 Annual Notice of Change letter from your Medicare plan provider. This letter will let you know what will be changing with your current plan.

Don’t put it in the trash. Take time to review as you might find changes in premiums, co-payments, drug tier levels, preferred pharmacies, etc.

A few years ago I met with a gentleman who did not review his Annual Notice of Change Letter for his Part D prescription drug plan. His plan renewed and then he got “premium” shock at the cost of his premium for that current year. Unfortunately, he was stuck with the plan for the year at a hefty cost each month.

This is a great time to review your prescription drugs and find the plan that will work for you. Either a Medicare Advantage or the stand alone Part D Prescription Drug plan if you are enrolled with Original Medicare.

The question asked every year, can I change my Medicare Supplement Plan (Medigap) at this time. You can try and change but you will have to contact your plan provider directly or a new plan provider to see if they will write the Supplement Plan for you. Medicare Supplement Plans are an optionĀ and not a requirement of Medicare.

Contact your State Health Insurance Assistance Program (SHIP) and they can provide you with free, in depth, one-on-one insurance counseling and assistance to Medicare beneficiaries.

 

 

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