In September, people who are now on Medicare drug plans and Medicare Advantage/HMO plans received from their current Medicare stand-alone drug plan or Medicare Advantage/HMO carrier information in September on any changes in their 2015 benefits for 2016 order to decide whether or not to make a change.
If an individual is happy with what they see after reading the plan materials from their current carrier for the upcoming year, they don’t have to do anything. The stand-alone prescription drug plan or Medicare Advantage/HMO will then automatically renew for 2016.
If, however, an individual decides they want to make a change in their stand-alone prescription drug plan or Medicare Advantage/HMO plan coverage during Medicare’s Annual Enrollment, their new plan change election can be submitted beginning October 15 thru December 7. The change will not be effective until January 1, 2016.
Starting October 1st brokers, agents, and insurance companies can be contacted regarding 2016 plan benefit changes. Please note, however, that the earliest submission date for applications is October 15.
*NOTE: Medicare Supplement/Medigap policies do not change. They are defined by Medicare but can be offered by different