Medi Advisors of Ohio

Already On Medicare?

If You Are Already On The Medicare Program…

Below are general answers to important questions for those already on medicare.

What are my options during the Annual Enrollment Period (formally known as Open Enrollment)?

Starting Oct. 1, you will be able to view the benefits of other Medicare Advantage and Part D drug plans offered in your area. You may make plan changes from Oct. 15 – Dec. 7 for an effective start date of Jan. 1 of the following year.

As you are already on Medicare, you will generally have 3 options to select from:

Option 1: Often, your current plan will simply roll into the next year’s plan. If you wish to keep your current plan, simply do nothing. However, to avoid unwanted and costly surprises, we suggest you speak with a Licensed Insurance agent to ensure your best interests are met in the upcoming year. Contact us! We can help!

Option 2: Once you have reviewed your current plan as well as other plans offered in your area, you can change your Part D Prescription Drug plan or your Medicare Advantage plan. This process can seem overwhelming but we’re happy to walk you through the process, step by step!

Option 3: You also have the opportunity to go back to Original Medicare and to a Stand Alone Part D Prescription Drug plan. Acceptance into a Medicare Supplement plan may be based on medical underwriting and you could be denied. Once enrolled however, Medicare Supplements are guaranteed renewable…meaning you cannot be cancelled based on your health status. Medicare Supplement plans help to protect beneficiaries from most out of pocket healthcare expenses.

Still have questions? We have the answers! Give us a quick call.

I’m already on Medicare due to disability but now I’m also turning 65....

Being already on Medicare, you will receive a new personal Open Enrollment period when turning 65. This means, you’ll generally have new, expanded options available to you! You may enroll into a Medicare Supplement, a Part D Prescription Drug plan or a ‘Bundled’ Medicare Advantage plan.

Talk with a licensed insurance agent for personal assistance!

Are you currently on Medicaid, receive Extra Help, gained or lost your Medicaid eligibility? Have you moved into or out of a Skilled Nursing Facility? Are you moving outside your plan’s service area?

There are many things that can disrupt your health care plan but fortunately, many of those changes offer you a Special Enrollment Period which will allow you to make health plan changes that better fit your current situation. We can help guide you through the process even if you are already on Medicare!

Important Dates to Remember

Avoid costly mistakes!
Decisions regarding your Group & Health coverage involve adhering to the specific Medicare Program timelines to avoid Late Enrollment Penalties and unnecessary additional premiums.

Turning 62: For those with a higher net worth, contact your accountant and financial planner.
Turning 64: Start preparing for Medicare Insurance now to learn important timelines, coverage, costs & penalties.
Sept. 30: Annual Notice of Changes to your current plan mailed to beneficiaries. Contact your Licensed insurance agent to review these important changes.
Oct. 1 – 14: Pre-Annual Enrollment Period. This is your “First Look” opportunity to view next years plans with your licensed insurance agent
Oct. 15 – Dec. 7: Annual Enrollment Period for Medicare Advantage and Part D Prescription plans
Jan. 01 – Mar. 31: Medicare Advantage Open Enrollment Period. If you are already in a Medicare Advantage plan, you can make one change during this time to another Medicare Advantage plan, with our without drug coverage, or go back to Original Medicare and enroll in a Part D plan. This is also the same time frame as the General Enrollment Period for Part A and Part B if you did not enroll during your initial enrollment Period and do not have another valid election period available. Coverage takes effect the 1^st day of the month following enrollment.
Quarterly: Medicaid and Extra Help Beneficiaries may have the option to make quarterly changes to their Medicare Advantage and Part D drug plans from Jan 1 – Sept 30th.
Yearly – Oct. 1: For many beneficiaries, this is the Lock in period for Medicare Advantage plans and Part D drug plans unless your situation qualifies you for a Special Enrollment Period.
25th Month of Disability: Generally Eligible for Medicare Part A & Part B, Medicare Part C Advantage Plans and Medicare Part D Prescription Drug plans.
Turning 65 – Generally Eligible for Medicare Part A & Part B, Medicare Part C Advantage Plans, Medicare Part D Prescription Drug Plans and Medicare Supplements (Medigap).

Based on your personal situation, you may have other enrollment options available.

Resource: Medicare.gov