Why You Should Have a Medicare Advisor to Talk to During AEP?
If you are on Medicare, then you know how stressful it can be. Especially during AEP (Annual Election Period), you need all the help you can get in order to make an informed decision regarding your Medicare coverage. That’s where the help of Medicare advisors becomes invaluable.
You might have heard about the Blue Cross and Blue Shield health insurance organizations. The federation has
about 36 units all over the United States with the main focus of providing health insurance. When it comes to
this, they are quite successful, considering the fact that they currently have about 106 million people as clients.
This puts the Blue Cross and Blue Shield right at the top in their niche.
People have different medical needs which may change over time depending on their conditions. Medicare allows its beneficiaries to make adjustment accordingly during the Annual Election Period or AEP, starting from October 15 to December 7 each year. During this period, you are allowed change or cancel your Medicare plans entirely. For those who did not sign up for Medicare plans when they become eligible during the Initial Enrollment Period, the AEP is the proper time window to do it, unless they are eligible for Special Election Period (SEP).
Part D plans must offer either the defined standard benefit or an alternative equal in value. The standard benefit has a $415 deductible and 25% coinsurance up to an initial coverage limit of $3,820 in total drug costs.
It is the time of year that everyone on a Medicare Advantage plan gets a letter from their Medicare Insurance companies.These ANOC letters explain in detail how your current plan is changing for the upcoming year.
Sometimes your plan with actually get better than the year before. Often it will stay very close to your current plan. And finally, it could get worse or even much worse than the prior year.
Original Medicare, often known as Medicare Part A and Medicare Part B, is a fee-for-service plan that is managed by the federal government and provides Medicare to eligible individuals with coverage for and access to doctors, hospitals, and other healthcare providers who take Medicare. People who use Original Medicare pay a fee for each service but Medicare pays a certain amount up to certain limits.
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