If you or someone you know receives Medicare benefits, now is the time to review that coverage. Open enrollment for supplemental Medicare insurance, also known as Medigap, started on October 15 and ends on December 7. Seniors can change their Medicare supplemental health and drug coverage only during this open enrollment period.
Medicare is the government-sponsored healthcare coverage for Americans over 65 years of age. However, Medicare does not cover all healthcare costs. That’s why, during this open enrollment period, the elderly and senior caregivers can shop around for Medigap insurance.
Medicare supplemental insurance helps pay the “gap” between what Original Medicare (Medicare Parts A and B) pays for your health care and what you pay out of your own pocket, including deductibles, copayments and coinsurance. There are four parts to Medigap insurance:
- Part A: hospital insurance
- Part B: medical insurance
- Part C: Medicare Advantage (offered by private companies approved by Medicare, like an HMO)
- Part D: prescription drug coverage
If a senior already has a Medicare Advantage plan or a stand-alone Part D plan, they will have received an Annual Notice of Change (ANOC) and/or Evidence of Coverage (EOC) from their plan. This is the time to review the plan’s costs, benefits and rules for the upcoming year. Changes made to coverage will take effect January 1 of the next year.
It is recommended that you compare prices for all of your supplemental insurance. Caregiverlist has partnered with eHealth Medicare to provide Medicare Supplemental Insurance plan quotes outside “the Marketplace”. We invite you to shop around by going through this trusted Medicare Supplemental site or by calling 888-353-4215.
Understand the difference between the Fall Open Enrollment Period and Open Enrollment for the Health Insurance Marketplaces. The Health Insurance Marketplaces (also known as Exchanges) open enrollment for uninsured or underinsured Americans that began on October 1, 2013 has nothing to do with Medigap or Medicare supplemental coverage. The Marketplaces are not meant for people with Medicare. People with Medicare do not change their Medicare supplemental insurance through the government’s HealthCare.gov.
