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We are getting close to Medicare’s Annual Enrollment Period (AEP). This is the time to get prepared for the enrollment period so you know what you want to do when the window begins. Will you want to stay on your current plan or is it time to make a switch? Click here for five helpful questions to help you answer these questions before the AEP.
Medicare insurance agents at Premier Benefit Consultants are available now to provide a free review of your current Medicare insurance plan and discuss your options to ensure that you’re on the right plan. Contact us today!
What you need to know about Medicare annual enrollment period for 2022
It’s important to know the dates for Medicare Annual Enrollment for 2022 because this is the window where you can make changes to your Medicare health and drug coverage that will take effect on January 1, 2022.
Medicare AEP for 2022 coverage is from Friday, October 15 through Tuesday, December 7, 2021.
Note: Medicare Annual Enrollment 2022 may also be referred to as the 2022 Medicare Annual Election Period or the Medicare enrollment period for 2022.
The AEP should not be confused with other Medicare enrollment periods:
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 through 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 2022?
Unlike other types of Medicare coverage, there isn’t an annual open enrollment period for Medicare Supplement policies like MedSup and Medigap. We do, however, recommend making changes to supplemental policies within the six-month period from the month a senior enrolls in Medicare Part B.
Can I still make changes to my Medicare coverage if I miss the Annual Enrollment Period?
There are a few ways to make changes to your Medicare insurance outside of the AEP:
1. If you qualify for a Special Enrollment Period then you will still be able to make changes to your 2022 health coverage during that period.
2. The Medicare Advantage Open Enrollment Period is between January 1, 2022 and March 31, 2022. It gives seniors on a Medicare Advantage Plan a one-time opportunity to switch to a different Medicare Advantage Plan or back to Original Medicare.
3. If you missed your Initial Enrollment Period, you can sign up for a Medicare plan during the General Enrollment Period, January 1, 2022 through March 31, 2022. Coverage begins July 1, 2022.
Outside of these options, you will need to wait until next year’s AEP to make changes to your Medicare coverage.
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 read over the Annual Notice of Change statement that explains any and all changes coming to your Medicare plan(s) for the 2022 calendar year before making the decision to stay on your plan. Your Medicare agent can answer any questions you have about changes coming to your health coverage.
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.