Important Dates
Oct. 1 – Oct. 14 – Pre-enrollment Period:
During this period you can find out which Plans will be offered during the Annual Enrollment Period.
Oct. 15 – Dec. 7 – Annual Enrollment Period (AEP)
- You can enroll in a Medicare Advantage or prescription drug plan for the next calendar year.
- You can switch Medicare Advantage plans.
- You can return to original Medicare and choose a Part D plan to go along with it.
Jan. 1 – Mar. 31 – Medicare Advantage Open Enrollment
Only applies to people who already have a Medicare Advantage plan.
Enrollment / PLAN CHANGE OPTIONS
- Switch from Medicare Advantage to Original Medicare plus a Part D plan.
- Switch from one Medicare Advantage plan to another.
- You can only make one change during this open enrollment period.
Jan. 1 – Feb. 14 – Annual Disenrollment Period (ADP) for Medicare Advantage plans and prescription drug plans:
During this time, you can disenroll from Medicare Advantage Plans and return to original Medicare. You can then also enroll in a stand-alone prescription drug plan if you choose. But you can’t select another Medicare Advantage plan at this time.
Medicare Special Enrollment Period (SEP)
Is a special enrollment period based on certain conditions and exceptions. Some exceptions include moving from your plan’s service area or qualifying for Medicaid coverage. If you are eligible for the special enrollment period you can enroll in a Medicare Advantage plan outside of the Annual Enrollment Period between Dec. 8 – Oct. 14.
Important Terms
Annual Enrollment Period (AEP):
From Oct. 15 – Dec. 7 people who are Medicare eligible can enroll in or disenroll from or change to the Medicare Advantage plan of their choice for the following year.
Initial Enrollment period (IEP):
This is your first chance to sign up for Medicare. It starts 3 months before your 65th birthday, includes the month you turn 65, and ends 3 months after the month you turn 65.
Coinsurance
A percentage of your medical and drug costs that you pay out of pocket.
Copayment
The fixed dollar amount you pay when you receive medical services or have a prescription filled.
Original Medicare
The traditional fee for service program offered directly by the federal government which pays for your healthcare. You can see any doctor who takes Medicare anywhere in the country.
Deductible
The amount you pay for medical services or prescriptions before your plan pays for benefits.
Health Maintenance Organization (HMO)
Generally, a primary care physician arranges your healthcare in the plan’s network.
Formulary
Also called a drug list, the formulary lists the drugs your plan covers. It’s often divided into sections or tiers, based on the copayment for the covered drugs.
Preferred Provider Organization
This type of health plan gives you the freedom to choose your own doctors and hospitals.
Special Needs Plans
Plans that may offer benefits, providers and drug lists designed to meet the specific needs of the groups they serve. People with chronic conditions, like diabetes or heart conditions, or who are dually eligible for Medicare and Medicaid may benefit from this type of plan.
Premium
What you pay Medicare or a Medicare Plan for healthcare coverage.
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