Medicare Supplemental Insurance & Open Enrollment

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Open Enrollment is around the corner and most seniors are confused about Medicare Supplemental Insurance. Medicare Advantage plans? Medicare Part D plans? So many choices and it begins on October 15th and ends on December 7th.

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Open Enrollment is a time when seniors over the age of 65 or under 65 but on Medicare can chose any Medicare Supplemental Insurance plan regardless of any pre-existing conditions that they may have. Open enrollment starts on October 15th and ends on December 7th. During this time, seniors on Medicare can cancel and obtain new coverage without restrictions.
Open enrollment also benefits seniors looking to change their existing Medicare Supplemental Insurance plans. Seniors that are looking to upgrade their current supplement plan or simply trying to lower their monthly premium can change without any limitations. Also, individuals that are new to Medicare or have just obtained Medicare Part B can also apply for a Medicare Supplemental policy without any limitations.
During open enrollment Medicare Advantage plans are the most popular plans purchased. Generally Medicare Advantage plans have no premiums and will cover most of the gaps original Medicare doesn’t cover. Advantage plans are popular among individuals that are on a fixed or low income. Also seniors that are in overall good health would find an Advantage plan to be the right choice. Most Advantage plans include Medicare Part D at no cost. Medicare Part D is a comprehensive prescription plan. Advantage plans also include benefits for dental, vision and/or hearing.
Open enrollment is a critical time for seniors to obtain any plan they desire. Outside of open enrollment there are several restrictions on obtaining coverage. Medicare Advantage plans have the most restrictions, for instance, you cannot obtain coverage unless you moved out of the service area, losing group employer insurance, or new to Medicare. Medicare can be very confusing and intimidating. However, it is very important to choose the right plan that best suits your needs. It’s always recommended to compare plans and pricing online or speak to a licensed Medicare broker. http://www.MedicareMedics.com is an unbiased site that compares Medicare Supplemental insurance, Medicare Advantage plans, and Medicare Part D.

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