The Medicare Annual Election Period starts today, October 15 and runs through Friday, December 7, 2018. Any changes you make will be effective January 1, 2019. This is the only time of the year when you can change your Medicare Prescription Drug Plan and/or change or drop a Medicare Advantage plan. If you do not change plans, your 2018 plan will continue into 2019.
It is very important that you make sure you have the very best plan for 2019. Medicare Prescription Drug Plans can change their coverage and costs every year. You should receive information from your 2018 plan explaining their plan for 2019. If you do not like the plan's changes for 2019, then you must switch plans between 10/15 and 12/7. If you switch plans, then your new plan will be effective 1/1/19.
This is also the only time you can enroll in or drop a Medicare Advantage plan. If you drop a Medicare Advantage plan, you can move to another Medicare Advantage Plan (if there is one available in your area) or you will return to Original Medicare. We believe that returning to Original Medicare is a wise choice. As a matter of fact, we believe Medicare Advantage plans offer no advantage to you at all. You have co-pays and co-insurance for everything you do medically. TV commercials make them sound awesome, but they are not awesome. And the real problem is that people don't realize how much their co-pays and co-insurance can cost until they need to use the plan often. Then they feel mislead and angry. We cannot tell you how many times we have had people come into our office begging to get out of their Medicare Advantage plan. If it is this time of year, they can drop it and go back to Original Medicare and maybe get a Medicare Supplement plan to cover the gaps in Medicare. This is always the best option. But if you do not drop your Medicare Advantage plan now, you are stuck with it for another year. Call an agent you can trust to see about dropping your Medicare Advantage plan and going back to Original Medicare with a Medicare Supplement.
This is also a great time of year to review your Medicare Supplement coverage. Medicare, Medicare Supplements and Medicare Prescription Drug Plans offer the best choices for Seniors. Use this time of year to make sure you are in the best Medicare Supplement plan with a strong company. Check on your prescription drug plan. And disenroll from a Medicare Advantage plan before it is too late. For more information, please email us or call us at 540-465-2937. Thank you for visiting our website.