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Changes Available During Medicare’s AEP…

by | Oct 15, 2024 | Enrolling in Medicare, Medicare, Medicare Advantage Plans

Changes Available During Medicare’s AEP…

 

Toni:

In August, my husband and I enrolled in a Medicare Supplement, which has not paid a medical claim because we are in a Medicare Advantage plan. We could not leave the Advantage plan and return to Original Medicare due to Medicare rules.

I was told that Medicare’s Annual Enrollment is when Sonny and I can disenroll from this Advantage plan and return back to Medicare, but I do not know what to do.

Toni can you please explain in simple terms what we need to do since Medicare’s enrollment period is beginning. Thanks, Laura from Las Vegas

 

Hello Laura:

The biggest no-no in the Medicare insurance world is when an insurance agent sells a Medicare beneficiary (which is what you and Sonny are) who has a Medicare Advantage plan a new Medicare Supplement without advising the client how to disenrolled properly from their Medicare Advantage plan.

Medicare’s Annual Enrollment (AEP) from Oct. 15 to Dec. 7 is the proper time to disenroll from the Medicare Advantage plan that you and Sonny are currently in by enrolling in a Medicare Part D plan and return to Original Medicare on Jan. 1. At that time is when you can begin to use the Medicare Supplement which you applied for in August.

AEP is the time when one can enroll or change either a standalone Medicare Prescription Drug (Part D) plan or a Medicare Advantage (Part C) plan with or without a prescription drug plan. Enrolling in a Medicare Supplement or changing Medicare Supplement plans is not included in Medicare’s AEP rules. Underwriting rules for Medicare Supplements will apply during AEP.

Below are changes that can be made during Medicare’s Annual Enrollment Period (AEP):

  • Return to Original Medicare by enrolling in a stand-alone Medicare Prescription Drug (Part D) Plan. (Laura, this is you and Sonny’s Medicare AEP option to begin using the Medicare Supplement which you enrolled in August.)
  • Return to Original Medicare by enrolling in a standalone Medicare Prescription Drug (Part D) Plan and purchase a Medicare Supplement. (underwriting rules may apply)
  • Enroll in a Medicare Prescription Drug (Part D) Plan.
  • Change from one Medicare Prescription Drug (Part D) Plan to a new       Part D Medicare Prescription Drug Plan.
  • Enroll in a Medicare Advantage (Part C) Plan with Prescription Drugs
  • Change from one Medicare Advantage (Part C) Plan with or without Prescription Drug plan to a new Medicare Advantage (Part C) Plan.
  • Return to Original Medicare only and enroll in a stand-alone Medicare Prescription Drug (Part D) Plan.
  • Or Return to Original Medicare with no Part D plan. *Please note there is a penalty for not enrolling in a Medicare Prescription Drug (Part D) plan when first eligible.

 

For those who already have either a Medicare Advantage (Part C) plan with or without prescription drugs or a standalone Medicare Prescription Drug (Part D) plan, Medicare’s Annual Enrollment is the time to make sure your drug plan or Advantage plan still meets your needs.

It has been acknowledged that some Medicare Advantage and Part D plans have changed for 2025. Use www.medicare.gov to verify that your prescription drugs are covered in your 2025 MAPD or Part D plan formulary. If your prescriptions are not covered for 2025, you will have to pay 100% of that prescription cost out of your pocket.

With Medicare, it’s what you DON’T know that will HURT YOU! Need Medicare help? Call the Toni Says Medicare hotline at (832) 519-8664 or email info@tonisays.com for assistance. Toni’s books are available at www.tonisays.com with a bundle discount for Toni Says® readers.

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