Each fall, there is a lot of talk and confusion regarding Medicare. We sat down the the Group Medical Benefits Professional that we work with, and she helped to clear up some of the uncertainty below.
"If you are age 65 or older, you will soon begin to receive mailings from various insurance companies about Medicare Supplement (Medicare Advantage) plans. The material suggests that you must make a decision between 10/15 and 12/7 for the upcoming year, for coverage effective January 1, 2014. Below are the situations under which you may make a change:
■ Change from a Medicare Advantage Plan back to Original Medicare.
■ Change from Original Medicare to a Medicare Advantage Plan.
■ Switch from one Medicare Advantage Plan to another Medicare Advantage Plan.
■ Switch from a Medicare Advantage Plan that doesn’t offer drug coverage to a Medicare Advantage Plan that offers drug coverage.
■ Switch from a Medicare Advantage Plan that offers drug coverage to a Medicare Advantage Plan that doesn’t offer drug coverage.
■ Join a Medicare Prescription Drug Plan.
■ Switch from one Medicare Prescription Drug Plan to another Medicare Prescription Drug Plan.
■ Drop your Medicare prescription drug coverage completely.
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Yet, what is not clear is that if you have a plan you like, you do not need to take any action! So, if your current plan does not meet your needs, you will want to review the mailings you receive, but otherwise, your current plan will continue without any action on your part."
Are you getting good advice from your company’s Group Medical Benefits consultant? We have a long standing partnership with someone who truly understands the nuances in today’s health insurance market and specializes in crafting solutions for your company’s needs. If you would like a free, no obligation consultation, call us today at 978-977-4884 and ask for Chris Millerick.
