Here are answers to some frequently asked questions about Medicare.
Annual open enrollment, also known as AEP, is October 15 to December 7, with a January first start date. This is the time every year when every senior has the opportunity to change their prescription drug plan and their managed care or advantage plan.
Your initial enrollment to Medicare is a 7-month window. You have 3 months before your birthday, the month of your birth date and 3 months after your birthday to sign up. The first of the month of your birthday is when it starts. For example, if your birthday is July 7, it would be July 1st.
A+B+D=C. An advantage Plan is all inclusive and known as part C. It includes part A (Hospital) Part B (Doctors, testing etc.) and usually Part D (prescription drugs).
The difference is that you can only use in network providers with an HMO. With PPO, you can use out of network providers if they accept the assignment, but you will have to pay additional fees.
It's when you keep your original Medicare and you compliment with a plan that fills in the gaps. It does not include a drug plan. You need to have a separate drug plan.
You can change the plan any time that you want or need to, but you may have to pass underwriting. It has to be changed before the first of the month in order for it to start the following month.
This is the most common mistake that Medicare recipients make. Yes. Everyone has to have a drug plan or you will be fined when you finally do apply for a drug plan. You are fined for every day that you did not previously have a plan (unless you become low income).
The Elderly Pharmaceutical Insurance Coverage program (EPIC) is income based. If you make under $100,000 as a couple or $75,000 single it helps complement your drug plan.
Yes. There are Medicare Advantage plans that have zero deductible, zero premiums, zero to see your primary, and pay back money towards your part B premium.
You can go to medicare.gov put your information in and the government will tell you which is the best Medicare options are best for your medications.
There is NEVER any cost to you.