Medicare Open Enrollment Began on October 15

The Medicare Open Enrollment Period begins this week on October 15 and continues through December 7. Whether you have original Medicare with prescription and supplement plans, or Medicare Advantage (MA), during the fall enrollment period, you can shop on www.Medicare.gov to sign up for new coverage or change your plan. You can switch from original Medicare to MA (or vice versa with some possible limitations).

Plans may change from one year to the next, so it is important to review your coverage, even if you have been happy with it. The list of prescription medications covered by MA and Part D plans often change year to year. Your medication may no longer be covered, or the cost may have increased.

As you probably know, original Medicare is managed by the federal government and offers coverage for Part A (hospital services) and Part B (outpatient services, such as primary care doctors and specialists).

MA plans are run by private insurance companies. These managed-care plans must cover all the same benefits as original Medicare, though you’ll be limited to their provider networks, unless you pay for out-of-network. They may offer extras, such as dental, vision, or hearing services. MA plans also typically cover prescription medications. 

People who are eligible to opt for original Medicare can buy supplemental plans to cover the 20% of healthcare costs (Medigap) that Medicare does not pay and a Part D drug plan for medications.

If you need assistance to help you make your decision on which original Medicare or MA plan may be right for you, contact the State Health Insurance Assistance Program (SHIP) to learn how to get in touch with a counselor in your state. Call 877-839-2675 or visit the SHIP website at: www.shiphelp.org/ .