Medicare Open Enrollment is Coming!

On October 15th Medicare’s open enrollment period begins and lasts until December 7th. It’s during this time period that you can review your current Medicare plan and make changes if needed. You do not need to sign up for Medicare each year, but this is an important time when you should review your coverage to make adjustments if necessary, to ensure your health insurance needs are being met. And with the government currently discussing change that could potentially impact different parts of the healthcare system, it’s also a good time to stay up-to-date on this news as it unfolds.

Medicare beneficiaries who have a Medicare Advantage plan or Part D plan should receive paperwork called “Evidence of Coverage” or “Annual Notice of Change” letters from your health plan showing coverage outlines and any changes that will occur. It’s very important to review these materials to make sure of any changes in the plan’s costs, providers, benefits, drug formularies, etc. so that if something is changing with your plan, you are aware of it and can make changes to your coverage, if needed. These plans can change their benefits so it’s crucial to review your policy and any upcoming changes.

So, what can be done during the open enrollment period? According to Medicare, you can do the following:

Something else to keep in mind is that if you are not satisfied with your Medicare Advantage Plan, you can disenroll from that plan and join Original Medicare during the Medicare Advantage Disenrollment Period. This disenrollment period is open from January 1st to February 14th.

The Medicare website offers a Medicare Plan Finder where you can search for and compare health plans, benefits, coverage and estimated costs. You can also contact Medicare directly at 1-800-MEDICARE (1-800-633-4227) for information and questions.

For additional help, you can receive individualized assistance and guidance in choosing coverage through your State Health Insurance Assistance Program (SHIP). This resource provides one-on-one insurance counseling and support, visit https://www.shiptacenter.org/ to find your local office.

MSAA’s My Health Insurance Guide is a helpful source for the MS community to find more information about insurance options and resources, in addition to the Medicare Planning and Multiple Sclerosis brochure that helps to outline important parts and questions about Medicare coverage.

This is an important time to review your plan’s policy and make changes if needed to ensure that you have the appropriate coverage for your healthcare needs.

Resources:

http://www.medicareinteractive.org/get-answers/overview-of-medicare-health-coverage-options/changing-medicare-health-coverage/6-things-to-know-about-fall-open-enrollment

https://www.medicare.gov/sign-up-change-plans/when-can-i-join-a-health-or-drug-plan/when-can-i-join-a-health-or-drug-plan.html#collapse-3190

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It’s Almost Medicare Open Enrollment Time!

A week from now Medicare’s open enrollment insurance period will begin, running from October 15th until December 7th. This is the time when you can review your current Medicare plan and make changes if needed. You do not need to sign up for Medicare each year, but you can review your coverage and make adjustments if necessary to ensure your health insurance needs are being met.

Open Enrollment Period 2016Medicare beneficiaries who have a Medicare Advantage plan or Part D plan should receive documents such as ‘Evidence of Coverage’ or ‘Annual Notice of Change’ letters from your health plan showing coverage outlines and any changes that will occur. It’s very important to review these materials to make sure of any changes in the plan’s costs, providers, benefits, drug formularies, etc. so that if something is changing with your plan, you are aware of it and can make changes to your coverage if needed. These plans can change their benefits so it’s crucial to review your policy and any upcoming changes.

What can you do during the open enrollment period? According to Medicare’s website you can:

The Medicare website offers a Medicare Plan Finder where you can search for and compare health plans, benefits, coverage and estimated costs. You can also contact Medicare directly at 1-800-MEDICARE (1-800-633-4227) for additional information and questions.

For additional help, you can receive individualized assistance and guidance in choosing coverage through your State Health Insurance Assistance Program (SHIP). This resource provides one-on-one insurance counseling and support, visit https://www.shiptacenter.org/ to find your local office.

MSAA’s My Health Insurance Guide is another helpful source for the MS community to find more information about insurance options and resources. This is an important time, so be sure to review your plan’s coverage and make changes if needed to make sure it’s right for you!

Resources:

http://www.medicareinteractive.org/get-answers/overview-of-medicare-health-coverage-options/changing-medicare-health-coverage/6-things-to-know-about-fall-open-enrollment

https://www.medicare.gov/sign-up-change-plans/when-can-i-join-a-health-or-drug-plan/when-can-i-join-a-health-or-drug-plan.html#collapse-3190

 

 

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Life Decisions

It’s not an easy thing to talk about or consider, but when it comes to making important decisions about the future it’s near the top of the list. It’s life insurance coverage. Yes, it can be a morbid topic to discuss sometimes but it’s one that warrants attention when making plans and preparations for future needs.

Life insurance can help pay for funeral costs, bills and other future financial needs of your family. The nonprofit organization Life Happens provides general information and education about life insurance and what to consider. It can be a challenging issue to face, and for those who experience chronic illness there may be some obstacles along the way to obtaining this coverage.

Some insurance companies may have stricter policies or limitations they impose for those who have been diagnosed with a chronic illness. This can vary according to the company’s policies and rules regarding coverage, and other issues like one’s medical history or current health situation. For these reasons it’s important to research a company and its policies before purchasing a plan. Higher premiums or limited coverage may be some of the barriers experienced by those trying to find a life insurance plan.

rsz_couple_smiling_and_talking_to_man_over_paperworkWorking with your state department of insurance and certified insurance brokers/agents can help you find a life insurance plan that works for your needs. Agents who specialize in ‘impaired or high risk’ life insurance can help as they have experience finding coverage for individuals with medical conditions. The National Association of Insurance and Financial Advisors has a search option to help find agents in your area. Looking for professional support in the insurance arena can hopefully help you attain beneficial outcomes when finding coverage.

*Be sure to use discretion when researching insurance professionals in your area.

Have you had any experience with life insurance planning?

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