Medicare’s Annual Enrollment begins October 15 and ends December 7 each calendar year.  Annual enrollment is similar to renewing a lease. It is a time for those currently enrolled in Medicare to make   changes, or add or change prescription drug coverage.

Here are some ways to make the best use of this window, if interested or preparing to make changes to your plan during Annual Enrollment.

Read up on the Medicare Plans Available

Depending on your county of residence, Medicare may have different plan options available.  Based on each person's needs, how often providers are seen and desired lifestyle, helps determine which plan makes the most sense.  In most cases, speaking to a qualified Medicare agent to understand each option available can really help ensure you have all the answers needed, before making a final decision.

Original Medicare has four parts. The simplest way to explain those parts is:

• Part A provides basic inpatient hospital coverage
• Part B provides basic outpatient/medical coverage
• Part C offers and alternate way of getting Medicare benefits (also known as Medicare Advantage)
• Part D provides prescription drug coverage

Unfortunately, this does not cover everything, and there will be some out of pocket expenses.  Most people will opt to add on an additional health plan to be sure they have the most comprehensive coverage available.

 Medicare Plans Separate into Two Basic Forms:

• Original Medicare with a Supplemental Plan (These are the lettered policies A-N)
• Medicare Advantage Plans (Also known as Part C Plans)

Medicare Supplement Plans are available in all counties. These plans have no network but require that any providers you wish to see are willing to accept Medicare as the primary insurance. These plans typically have a higher monthly premium but have little to no out of pocket costs if and when you have a medical service done or see a provider. Prescription drug coverage is not included and would need to be purchased separately.

Medicare Advantage Plans are designed to cover ALL that Medicare covers and more. They were created to go beyond what is covered by Original Medicare. to include benefits such as vision, hearing, fitness memberships, prescription drug coverage, etc. The value-added benefits vary by county.  Most Medicare Advantage Plans have some type of network of providers to be aware of. The best way to find out if your provider accepts a certain plan is to ask them directly.

Medicare Advantage Plans Come in the Following Types:

• HMO plans (Health Maintenance Organization plans)
• PPO plans (Preferred Provider Organization plans)
• PFFS plans (Private Fee-for-Service plans)
• and SNPs (Special Needs Plans)

What is available in your area will help determine the route taken and what might work best. Contact us for personalized help with options available in your area.