I have created a simple Q&A to help you navigate through the complexities of Medicare. If you have any questions, please contact me at your convenience, or attend next week’s Medicare Open Enrollment Lunch (or Dinner) ‘n Learn (See Below).

Medicare 2013 Annual Enrollment Period  Oct 15th – Dec 7th (2013)  (Changes effective January 1st 2014)

What is it?

The Medicare Annual Enrollment Period (“AEP”) allows Medicare Beneficiaries to change or drop their Medicare Advantage Plan or Part ‘D’ Drug Plan. (Note: Medicare Advantage is an HMO style of coverage. It is not a Medicare Supplement also known as MediGap).

What if I have a Medicare Supplement (“MediGap”)?

If you have a Medicare Supplement (MediGap), you are not subject to the AEP calendar rules. You may actually change from one MediGap company to another anytime of year. However, if you have a Part ‘D’ Drug Plan along with your Supplement, the AEP rules (10/15-12/7) must be followed in order to change Drug Plans.

What do I need to do during the AEP?

If you want to change or drop your Medicare Advantage Plan or Part ‘D’ Drug Plan, you must call your Broker or the Insurance Company.

What if I do nothing?

If you do nothing, your Medicare Advantage Plan or Part ‘D’ Drug Plan will remain in effect until you change or drop it.

What if I miss the AEP deadline?

The “Annual Disenrollment Period” runs from January 1st – February 15th. During this time, you may still drop your Medicare Advantage Plan to buy a Medicare Supplement (MediGap) and Part ‘D’ Drug Plan, but you can’t buy a new Medicare Advantage Plan.

To learn more, attend an upcoming Lunch ‘n Learn or Dinner ‘n Learn on Thursday, October 17th, 2013 at 11:30 AM or 6:00 PM. Call Kate at (215) 657-9200 to register, today! If you can’t make it, please contact me directly for a consultation!

Howard Peck

Medicare Supplement Specialist

(610) 633-1630