What you need to know about Medicare 2014 enrollment periods and Medicare Advantage cancellation 4

What you need to know about Medicare 2014 enrollment periods and Medicare Advantage cancellation 4

Losing Medicaid Eligibility

You may also qualify for a Part C / Part D Special Enrollment Period if you are currently enrolled in a plan and move to a new address outside your plan’s service area. Losing credible drug coverage, which means that coverage considered roughly equal to Part D, usually qualifies you for a Special Enrollment Period and exempts you from having to pay the Medicare Part D fine, which many people enroll in. in Part D after payment of the first eligibility period.

What about Medicare supplements?

Remember that you will never need a special enrollment period if you wish to enroll in a Medicare supplement plan. As long as you are 65 or older and enrolled in Medicare Part A and Part B, you can apply for a Medicare supplement plan at any time. However, keep in mind that guaranteed emission rights generally do not apply unless you apply for the desired Medicare supplement plan within six months of enrolling in Medicare Part B. This means that if you sign up outside the guaranteed issuance period, the medical signature may apply. and you may not be able to sign up for the plan you want.

Medicare Open Registration Period

It is not advisable to think that once you are enrolled in the Medicare plan or plans you choose, there is nothing else to do. It is important to reevaluate your coverage periodically from October 15 to December 10. 7 The open enrollment period offers the opportunity to do so annually.

For people who already have Medicare …

Open enrollment gives you the opportunity to evaluate current coverage and consider making some changes to Medicare coverage, including:

  • Switch from Original Medicare to a Medicare Advantage Plan
  • Switch from Medicare Advantage plans to Original Medicare
  • Switch from one Medicare Advantage plan to another
  • Join a prescription drug plan or switch from a prescription drug plan to another
  • Leave prescription drug coverage for Medicare Part D
  • Medicare premiums and health issues can change frequently.

That’s why many of the more than 13 million Americans enrolled in Medicare Advantage plans use open enrollment as an opportunity to evaluate their current coverage and purchase the most appropriate and affordable next year’s coverage on the market.

That’s what Bubba did.

Like so many other people, he concluded that Original Medicare was not enough to meet his health needs, moreover, he was burning a hole in his pocket. This is why you signed up for a Medicare Advantage plan during an annual open enrollment period.