Monday, October 14, 2019

October 15th is an important date for Individuals covered by MediCare!

Why? The Annual Election Period (AEP) begins the 15th and continues through December 7th.

What does the AEP mean? Everyone covered by MediCare has an annual opportunity to change their current Medicare Advantage plan (Medicare Plan C) or Prescription Drug Plan (Medicare Plan D). It is a – time to take action only if you want – not a time everyone has to do something.

Why would someone want to change? Situations such as a person:
     + Had a change in health and now wants a prescription plan to provide better coverage for their new medications.

    + Who is enrolled in a Medicare Supplement and wants to lower their monthly cost by selecting a Medicare Advantage plan. Some have no monthly cost.

Can a person buy any Medicare Advantage Plan or Prescription Drug Plan? The answer is NO.
    + Medicare Advantage Plan companies submit the proposed plans they want to offer in the next year to the Center for Medicare & Medicaid Studies (CMS) each year in early summer. As part of the proposal, the company indicates what states and within the state what Counties they want to offer the plan. Thus, a Medicare Advantage Plan is selected based on what is available in the County they live in.

    + Medicare Prescription Plan companies also submit their proposed plans to CMS and just indicate the states where they want to make it available.

    + Here in New London County we now have more Medicare Advantage plans and quite a few Prescription Plans.

Have questions about these plans or the somewhat confusing rules to apply for MediCare? Call or send a text to my cell (860) 662-3000.

John C Parker, Niantic CT

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