“Turning sixty is a major milestone, so why not make this enjoyable and tension-free for our elders.”
While nothing can replace the love they’ve given to us, but providing a health insurance policy can help them a lot to have a sense of satisfaction. Thus, there are some things that must be taken care of, so all the health care needs of your loved ones can be fulfilled without any difficulties.
Don’t Miss The Open Enrollment Dates
Take a note of the important dates of Annual Medicare open enrollment like Part A and Part B of the enrollment period is from January 1 to March 31 whereas for Part D it is from October 15 to December 7. In this period, any kind of modifications can be made, like to change from an original Medicare plan to the Medicare Advantage plan and vice-versa. Additionally, you can also make changes in the coverage for prescribed drugs, add a new or completely drop an existing coverage completely.
If no changes are required, then the same plan can be kept for the entire year until next open enrollment where the same can be modified, if needed.
Have A Thorough Round-Up Of The Additional Plans Too
Although open enrollment is the only period when changes in plans are being entertained, but if still your elderly wish to make some modifications, then it can be made under following conditions.
- The initial enrollment period which begins 3 months before a person turns 65 and runs for a period of 7 months. A person must also be eligible for availing the Medicare benefits.
- A plan with a 5-star quality rating by Medicare.gov can be swapped at any point of time.
- During the special enrollment periods, like moving to a different state or into a nursing home, in case the elder qualify for the Medicaid program or the Extra Help program, for assistance on prescription drug costs.
The Medigap and Medicare Advantage Enrollment
Used by almost 30 percent of the seniors, Medicare Advantage plan cover both healthcare and drug prescription. Its open enrollment period shares the same slot as of Part D Annual Medicare open enrollment. Those who wish to disenroll from the plan can do that between January 1 and February 14; prescription drug plan can be switched at any point of time.
On the other hand, Medigap coverage, also known as a supplemental plan for Medicare, works along-side Medicare to provide more health-related coverage costs and almost 20 percent of the Medicare beneficiaries make use of this plan. Seniors can easily enroll into any Medigap plan available in their area during the six-month period starting from the month they turn 65 and get themselves enrolled in Part B. Even after the period ends, the plans can be added, provided the coverage is applied and all medical underwriting requirements are met.
However, in most of the cases, there is no need to make changes into the plan of your elderly, yet it’s still recommended to review their plan every year and take a note of the above mentioned aspects so that they don’t remain uncovered at the time of need.