Medicare Annual Enrollment Period
FACTThe Medicare Annual Enrollment Period (AEP) begins October 15 and runs through December 7.
Are you ready?
This will largely depend on which Medicare Health Plan that you have. There are two types:
Medicare Supplement Plan
- These plans work in conjunction with your Original Medicare (Part A & B) and pay for most, if not all, of what Medicare does not cover.
- There are no networks and no HMO or PPO plans. Thus, you can use any doctor or hospital that accepts Medicare.
- Benefits are the same every year and are funded entirely by policyholder premiums.
- It’s good in all 50 states. Your plan works the same in-state as it does out-of-state.
Medicare Advantage Plan
- This plan replaces Original Medicare (Part A & B) and works as your primary insurance. You must continue to pay your deductibles, copays, coinsurance, and Part B premium.
- It includes a network (HMO and PPO plans), so you may be restricted in which doctors and hospitals that you can choose.
- It’s funded by government subsidies and policyholder premiums. As government appropriations get cut, premiums will increase as benefits decrease.
- You may not be covered in other states (except in emergencies.
- The biggest advantage of this plan is the lower premiums; although as government subsidies have been reduced, this benefit has been greatly diminished.
Do you have additional enrollment questions? Contact one of our licensed healthcare experts at (866) 817-5270