October 15th Starts Medicare Annual Election Period: What Should I Expect This Year?

Medicare’s Annual Election Period (also known as AEP) for 2018 plans is just around the corner. The period begins on October 15th, 2017 and ends on December 7th, 2017. If you enroll by December 7th, 2017, your plan will start on January 1st, 2018. What else do you need to know about Medicare’s Annual Election Period period for 2018?

Each calendar year, there are changes to Medicare—and that includes any or all parts (Medicare Parts A, B, C, and D). Consumers should be aware that Rx and advantage plans change their premiums, copays, networks, and more each year, so make sure to ask your health insurance carrier what the changes may be. It is very important to make sure that you look at all options available every calendar year—not only does pricing change, but your needs may change as well!

If you enrolled in Original Medicare (Parts A and B) before the Medicare Annual Election Period, you can change your plan during the enrollment period. Original Medicare is needed to purchase drug prescriptions, advantage plans, or to change them during the AEP. You can also sign up for a supplement at any time during the year.

If you are seeking dental and vision coverage, look into Advantage plans, which include dental and vision benefits. If you have a supplemental plan, there are also standalone plans that will help cover these things as well.

If you decide that you don’t like your Advantage Plan, you can go back to Original Medicare and get an Rx plan and supplemental coverage during the Medicare Advantage Disenrollment Period—this takes place from January 1st, 2018 to February 14th, 2018.

If you need assistance in enrolling in a Medicare Advantage, Rx or supplemental plan, you can contact Hafetz and Associates—we will help you, for no fee. You can contact us at 609-872-0001 and reception will direct you to the dedicated Medicare Team that will help you with all your Medicare needs!

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