This information is NOT intended for those on GROUP retiree plans, or other Group plans, who wish to KEEP those plans.
It is for those of you on individual Medicare.
The Open Enrollment Period Starts Oct 15th 2017 and continues till Dec 7th 2017. This is when those of you with individual Medicare Advantage or Medicare Prescription Drug plans can look at those plans, and how they will look for 2018.
What you are looking for (found in your Annual Notice of Change):
- Are there any changes to your out of pocket costs, such as monthly premium, or expected copayments/co-insurance?
- Any Network changes?
- Are your medications still addressed?
It is also the time that you can JOIN or DROP a Medicare Advantage or Part D plan, which would be effective Jan 1 2018.
What if you like your existing plan, and are comfortable with the addressed changes? Do nothing. Easy as that. It will roll over automatically.
What if you want to know about your options? www.medicare.gov
Those of you with Medicare Supplements, such as Plan F, Plan G, Plan N etc.. these plans do not change in HOW they work, and if you like them, you just keep paying the premium. But, you will want to check your Part D plan!
Medicare Part D plans can change from year to year. So it is best to review these plans to see if you can save money! Changing Part D plans does not affect your Medicare Supplement, as they are separate policies.
For those of you in California, and would like help understanding Medicare, then know that Health Insurance Counseling and Advocacy Program (HICAP) is provided free of charge by the State of California. You can find them 1-800-927-HELP or www.insurance.ca.gov
By the way: If you have a limited income, you may be able to get Extra Help with your Medicare prescription drug plan premiums, deductibles and/or copays. To find out if you qualify, call the Social Security Administration at 1-800-772-1213, TTY 1-800-325-0778, 7 a.m. – 7 p.m., Monday – Friday. I have found that more people qualify for Extra Help than know that they do.
As always, I am simply an email or call away. 🙂