What you Need to Know About Medicare Annual Enrollment Period 2021

Like other types of health insurance, Medicare has an Annual Enrollment Period (AEP). You want to be as prepared as possible heading into the enrollment period so you can be sure that you are staying on or changing to the best possible health plan for your current needs and budget. Click here for five helpful questions to answer before the AEP.

Medicare insurance agents at Premier Benefit Consultants are available now to provide a free review of your current Medicare insurance plan to ensure that you’re on the right plan for you. Contact us today!

What you need to know about Medicare Annual Enrollment Period 2021

You will want to know the dates for Medicare Annual Enrollment for 2021 because this is the window where you can make changes to your Medicare health and drug coverage that will take effect on January 1, 2021.

Medicare AEP for 2021 coverage is from Thursday, October 15 to Monday, December 7, 2020. Note that you may also see this same time frame referred to as the 2021 Medicare Annual Election Period.

There are also other enrollment periods that you may be wondering about:

  • The initial enrollment period (IEP) is a seven-month window around a person’s 65th birthday where they can sign up for Medicare Part A and/or Part B. It begins three months before the birthday month, includes the birthday month and extends three months after the birthday month.

  • The General Enrollment Period is available to seniors who didn’t sign up for Medicare Part A and/or Part B when they were first eligible AND who aren’t eligible for a Special Enrollment Period. It runs between January 1–March 31 each year.

  • Seniors can use a Special Enrollment Period (SEP) to enroll in Medicare Part A and/or Part B if they missed their IEP because they were still covered by a group health plan through their own or their spouse’s job – or through a family member's job, if they have a disability. The SEP is an eight-month time frame that starts the month after the job ends or the month after the group health plan from the job ends.

What changes can I make to my health coverage during the Annual Enrollment Period?

During AEP, Medicare recipients can:

  • Switch from original Medicare to a Medicare Advantage plan.

  • Switch from a Medicare Advantage plan to original Medicare.

  • Change to a different Medicare Advantage plan.

  • Join a Part D plan if you’re on original Medicare.

  • Change from one Medicare Part D drug plan to another.

  • Cancel your Part D coverage.

What is the annual open enrollment period for Medicare Supplement plans for 2021?

Unlike other types of Medicare coverage, there isn’t an annual open enrollment period for Medicare Supplement policies like MedSup and Medigap. It is, however, advised to make changes to supplemental policies in the six-month period from the month a senior enrolled in Medicare Part B.

Can I still make changes to my Medicare coverage if I miss the Annual Enrollment Period?

If you qualify for a SEP then you will still be able to make changes to your 2021 health coverage. You could also make some changes during the General Enrollment Period that begins January 1, 2021. Otherwise, you will need to wait until next year’s AEP.

What if I don’t want to make changes to my Medicare plan? Do I need to re-enroll every year?

If you are happy with your Medicare coverage, you do not need to re-enroll every year; the plan will roll-over automatically. It is, however, important to check in with a Medicare agent to learn about any changes coming to the plan(s) you are on.

Contact a PBC Agent for Help

Our independent insurance agents are dedicated to assisting people on Medicare and those who are ready to transition from employer coverage to personal retirement coverage. We help kupuna understand their benefits options and apply for additional coverage, as needed. Because we represent all the major Medicare Advantage and supplement plans in Hawaii, we are able to offer unbiased advice; all at no cost to our clients.

At PBC, our clients are our number one priority and we look forward to getting to know you and your needs. Call us today at (808) 738-4500 to see how we may be of assistance.

email: info@pbchawaii.com

office: 808.738.4500

1221 Kapiolani Blvd PH30

Honolulu, HI 96814

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