In case you’re a Medicare member, you’ve most likely heard of the Annual Enrollment Interval (AEP), which happens each fall from October 15 to December 7. It’s the one time of 12 months when Medicare members could make adjustments to their well being plans and prescription drug protection for the next 12 months.1
AEP is the busiest time of the 12 months for me and my fellow associates at Independence Blue Cross. We’re taking a look at final 12 months’s plans, pulling collectively data and supplies, determining what labored for our members and what we will enhance upon.
In fact, we’re additionally ensuring our Member Assist Group is able to help you and different Medicare beneficiaries to make essential selections about well being care protection for the upcoming 12 months.
Listed below are the most typical questions that will help you get a soar on planning for the 2018 Medicare AEP:
1. What sort of adjustments can I make throughout Medicare AEP?
There are a number of adjustments Medicare beneficiaries could make to Medicare protection throughout AEP:2
- In case you have protection via Medicare Components A & B, you possibly can change to a personal Medicare Benefit plan (or vice versa).
- You’ll be able to change from one Medicare Benefit plan to a different that you just really feel will higher meet your wants.
- You’ll be able to change from a Medicare Benefit plan that doesn’t embrace drug protection to at least one that does (or vice versa).
- You’ll be able to enroll in a Half D prescription plan in case you don’t have one, drop your Half D protection, or change from one Half D plan to a different.
2. Ought to I take into account making a change to my Medicare protection?
It’s an essential query, and there’s no proper reply for everybody. On the whole, it’s a good suggestion to overview your protection yearly and consider whether or not it’s assembly your wants.
Some frequent causes for altering protection embrace value share quantities (deductible, coinsurance, and copays), which medical doctors and hospitals are a part of the supplier community, and whether or not a selected remedy is roofed and your value share primarily based on the tier and prescription profit section on the time of the fill.
3. How ought to I am going about selecting a brand new plan or plans?
Let’s say that, after rigorously weighing your choices and contemplating your well being care wants, you determine it’s time to make a change. What are your subsequent steps?
Earlier than AEP
To start with, do not forget that no insurer can focus on 2018 plans till the AEP opens on October 15. Within the time main as much as the AEP, you possibly can pull collectively any questions you’ve about your present protection and develop an inventory of the advantages you’d wish to discover as soon as 2018 plan data turns into accessible.
Throughout AEP, from October 15 to December 7, there are a number of how to discover your choices and discover the very best plan to satisfy your wants.
4. What if I wish to hold my present plan?
Thus far, all of this data has centered on altering your Medicare protection in the course of the AEP. However that doesn’t imply you need to make a change. In case your present protection is assembly your wants and it’s accessible in 2018, you possibly can stick to what you’ve. In case you’re planning to maintain your present plan, you don’t need to do something; you’ll be enrolled mechanically.
1Some Medicare beneficiaries could qualify for a Particular Enrollment Interval throughout which they will make adjustments to their Medicare protection exterior the AEP.
2Becoming a member of a well being or drug plan. Medicare.gov, the official U.S. web site for Medicare.
This text was initially revealed on LinkedIn.