Things to Know About Medicare Plans and Medicare Open Enrolment!!

Medicare is a medical insurance program in association with the federal government in the United States to offer subsidized healthcare services to a certain group of people. Any person fulfilling the eligibility criteria for Medicare Programs can enroll either in Medicare Original Plan Parts A and Part B or opt for the Medicare Advantage Plan as per his/her requirements. Different Medicare Plans serve a different purpose and cover different healthcare services when a Medicare program holder gets those services from providers listed in the plan’s network.

To enroll in a Medicare Plan, a person must fulfil the following criteria:

  • Elderly people who are 65 or older

  • Certain younger people with specific disabilities as determined by the Social Security Administration

  • People with certain disease such as End-Stage Renal Disease

Anyone fulfilling the above criteria can join a Medicare Plan through the Open Enrolment Medicare process. Medicare plans are mainly divided into four parts to cover different healthcare service:

  • Medicare Part A (Hospital Insurance)

  • Medicare Part B (Medical Insurance)

  • Medicare Advantage Plan (Also known as Medicare part C)

  • Medicare Part D (Prescription Drug Coverage)

Medicare Part A and Part B are known as original Medicare plans in which the government pays for Medicare benefits. Medicare Advantage Plan is offered by Medicare-approved private insurance companies to cover healthcare benefits.

Medicare Open Enrolment:

Medicare Open Enrolment is the time from October 15th to December 7th every year when someone can change their Medicare Coverage or pick a new Medicare plan as per the requirements. Any changes done during this period will take effect starting January 1st next year.

During Medicare Open Enrolment period:

  • You can enroll in a new Medicare Advantage or Medicare Part D plan

  • You can switch from Medicare Advantage Plan to Original Medicare Plan (Part A and or part B) with or without Medicare Part D.

  • You can switch from Medicare original (part A and part B) to Medicare Advantage with or without Medicare Part D.

  • If you already have Medicare Part D with your Original Medicare or Medicare Advantage, you can drop it from your Medicare plan or switch to a new Part D prescription drug plan.

  • You can switch from your current Medicare Advantage to a new Medicare Advantage plan.

  • You can buy a Medigap policy depending on your location to pay Original Medicare costs.

Medicare Open Enrolment period is the time of year when you can review your current Medicare plan and drug coverage. If you are not satisfied with your current plan, you can switch to better Medicare coverage to reduce your out-of-pocket costs on Medicare benefits. By reviewing your Medicare Part D, you can save more money annually. Always keep in mind to join a Medicare Advantage plan that covers your Medicare benefits in your area.

So, if you are up for an open enrollment Medicare review in Georgia, you can request a quote from The Mehler Group for your next Medicare Advantage Plan. You can consult with their agent to review your current Medicare program and compare available options to select the best Medicare benefits in your region.

Sheneka Anthony