Yes, every September Medicare beneficiaries are inundated with mailings from Medicare insurance carriers in anticipation of Medicare’s Annual Enrollment which begins on October 15 and ends on December 7.
If you are already on a Medicare supplement/medigap policy, these policies do not change. They are defined by Medicare. They are offered by insurance companies. Insurance companies cannot change the benefits as defined by Medicare; they can, however, offer the coverage at different premiums for the same plan benefits.
People who are on a Medicare supplement/medigap policy will also have a stand-alone drug plan. Those stand-alone drug plans as well as Medicare Advantage/HMO plans can change from year to year. Beneficiaries on a stand-alone drug plan or on a Medicare Advantage/HMO plan will receive during September information from their current carrier what the changes will be to their plan for 2015. If you are happy with those changes, you don’t have to do anything. Your stand-alone drug plan or Medicare Advantage/HMO will then automatically renew for 2015.
If, however, the plan’s coverages or costs have changed and/or your specific medical needs (i.e., in the case of a Medicare Advantage/HMO) have changed, you will want to check out other insurance plans/carriers to see if there is another stand-alone drug plan or Medicare Advantage/HMO plan that will better fit your current needs.