Medicare Fall Open Enrollment is Here
The Medicare Fall Open Enrollment Period also referred to as the Medicare Annual Election Period (AEP) runs from Oct. 15 to Dec. 7 each year. Individuals who are already enrolled in Medicare can make changes to their coverage during this time. Changes made during AEP take effect Jan. 1 of the following year.
Understanding Medicare
Medicare is the federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people with end-stage renal disease. Medicare has four parts: Medicare Parts A, B, C and D.
· Part A: insurance that covers the cost when you are admitted to the hospital
· Part B: insurance that covers the cost of visiting a physician or other outpatient services
· Part C: also called Medicare Advantage plans, offers an alternative way to receive your Original Medicare benefits through private Medicare-approved insurance companies.
· Part D: helps pay prescription drug costs, for which you must enroll in a stand alone Medicare prescription drug plan or have it as part of your Medicare Advantage plan prescription drug coverage.
When choosing a Medicare plan or reviewing your Medicare plan options, consider a few things:
Original Medicare
- Medicare Part A (Hospital Insurance) and Part B (Medical Insurance). ·
- You can join a separate Medicare Part D Prescription drug plan to get Medicare prescription drug coverage (Part D). ·
- You can use any doctor or hospital that takes Medicare, anywhere in the U.S. ·
- To help pay your out-of-pocket costs in Original Medicare (like your 20% coinsurance), you can also shop for and buy Medicare insurance coverage
Medicare Advantage (also known as Part C)
- Medicare Advantage plans are offered by private Medicare-approved insurance companies as an alternative way to receive your Original Medicare benefits.
- These “bundled” plans include Part A, Part B, and usually Part D. ·
- In many cases, you can only use doctors who are in the plan’s network. ·
- In many cases, you may need to get approval from your plan before it covers certain prescription drugs or services. ·
Medicare Advantage Plans for You
Your health and well-being are important to us. Mercy Health accepts a variety of Medicare Advantage plans. Benefits vary by plan. View the list of accepted plans at Mercy Health. Check your specific health plan to verify your doctors are in network.
For a complete listing of plans, visit Medicare.gov or call 800-Medicare. TTY users can call 877-486-2048 24 hours a day, 7 days a week.