The Annual Election Period (AEP) begins on October 15 and ends on December 7 for a January 1 effective date. During the AEP, you can make changes to your Medicare Coverage.
If you have Medicare, you are in one of the following situations:
- You have Original Medicare and chose not to get a supplement due to the cost.
You are responsible for deductibles and 20% of your medical bills. Doctors who accept Medicare but not assignment can charge an additional 15% excess charges. Additionally, hospital coverage runs out on the 91st day, once your lifetime reserve is used.
- You have Original Medicare and a Medicare Supplement.
Medicare Supplements increase every year as you get older in addition to an annual rate adjustment. If you have specific doctors that are only part of Original Medicare and don’t mind the cost, then you’re fine. However, if this is an issue, speak to a licensed agent to help find better options for your healthcare situation.
- You have a Medicare Advantage Plan
You will be receiving an Annual Change of Notice (ANC) which outlines the changes for the New Year. This includes premium, copays, and maximum out of pocket. If you have a zero-premium plan, you might be eligible for a different plan with a significantly smaller out of pocket exposure. Look at your options now before it is too late. Depending on your health and income, you might be eligible for plans that offer special benefits, such as the following:
- 100% coverage
- Diabetic supplies or free transportation
Most Southern California counties including, Los Angeles, Orange, Riverside and Ventura offer zero premium Medicare Advantage Plans. Now is the time to see if you can boost your coverage and lower your financial exposure. Call us at 1-800-356-3615 to speak to a licensed agent or apply now for a free quote.