Medicare Open Enrollment is Here
The Medicare Annual Open Enrollment Period also referred to as the Annual Election Period (AEP) runs from Oct. 15 to Dec. 7 each year. Individuals who are already enrolled in Medicare can make several 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: 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 the choice to receive Medicare benefits through local or regional private plans
· Part D: helps pay prescription drug costs, for which you must enroll in a private drug plan or have it as part of your Medicare Advantage plan
When choosing a Medicare plan or reviewing your Medicare options, consider a few things:
Original Medicare
- Medicare Part A (Hospital Insurance) and Part B (Medical Insurance). ·
- You can join a separate Medicare drug plan to get Medicare 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 supplemental coverage
Medicare Advantage (also known as Part C)
- Medicare Advantage is a Medicare-approved plan from a private company that offers an alternative to Original Medicare for your health and drug coverage.
- 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 drugs or services. ·
- Plans may have lower or higher out-of-pocket costs than Original Medicare. You may also have an additional premium. ·
- Plans may offer some extra benefits that Original Medicare doesn’t cover— like certain vision, hearing, and dental services.
Medicare Advantage Plans for You
Your health and well-being are important to us. Bon Secours accepts a variety of Medicare Advantage plans. Benefits vary by plan. View the list of accepted plans at Bon Secours. Check your specific health plan to verify your providers are in network.
For a complete listing of plans, visit Medicare.gov or call 800-Medicare. TTY users can call 877-486-2048.