Medicare Enrollment: Tips for the Upcoming AEP
With Medicare enrollment approaching it’s important that you are prepared for enrollment periods, deadlines, and finding a plan right for you. Today we will share tips and information you will want to know before the AEP begins.
Annual Enrollment Period
The AEP begins October 15th and ends around December 7th each year. If your healthcare needs change like they often do, this is the time to act. During the enrollment period if you’re enrolled in original Medicare you will be able to do a few things one being able to enroll in an MA plan. You would also be able to enroll in or disenroll or switch to a different Medicare Part D plan. MA plans also referred to as Medicare Part c can offer the same coverage of Medicare parts A & B.
Special Enrollment Period
Besides these periods you will not be able to get new coverage, except for Special enrollment periods. A SEP is a time outside the Open Enrollment Period when you can sign up for insurance. To qualify for a SEP certain life events must occur, like losing health coverage, moving, getting married, having a baby, or adopting a child. SEP’s usually last around 60 days following an event so you must act quickly. There is also your initial enrollment period available. This period is seven months long beginning three months before you turn 65 and three months after.
Things to Remember When Choosing Plans
When choosing a plan, be sure to understand everything from benefits to your drug coverage. By knowing what you want in a plan, you can reduce the time it takes you to choose by a good amount. It can also make sure there are no holes in what your health needs nor the need to worry about switching your plan later on. If this seems confusing as it often is, it might be a good idea to get in contact with an experienced insurance agent. They will be able to help find a plan that is right for you based on your needs while getting you the right help you need such as subsidies if you qualify. Finally, make sure you’re coverage is in your area.
Would you rather a plan where you can go to more places for more money? Would you rather one central place where you get charged a low fee? These are all important questions. What fits you the best is entirely your decision and at the end of the day, you want what’s best for you.