Every year Medicare provides a time when people who are on Medicare insurance(s) can select to change their medical/drug coverage as of the 1st of the following year. The Annual enrollment election period is October 15 thru December 7.
Because Medicare Advantage/HMO and stand-alone prescription drug plans can change either a little or a lot from year to year, individuals should connect with their broker/agent to confirm what those changes are and whether another plan would cover the beneficiary’s medical/drug needs more cost effectively.
If an individual is on a Medicare supplement/medigap policy, they could decide during Annual Enrollment to elect to change to a Medicare Advantage plan effective January 1st.
Beneficiaries will be sent 2013 plan information from their current carrier(s) prior to Annual Enrollment. If the beneficiary, after reviewing his/her plans decides no change is needed, they will continue with their current carrier(s). If, however, the beneficiary, after comparing their current carriers benefits with other carriers, decides a change needs to be made, that election will need to occur during Annual Enrollment.