Medicare has a variety of enrollment periods.
There's one when you start; first come on Medicare, and then there's one every
year towards the end of the year.
Well there's also a different enrollment period for Medigap or Medicare
Supplement Insurance when you get enrolled at first as well as when you
can change your plan or not.
So today I'm going to be covering the six month Medigap open enrollment
period, as well as when you can switch your Medicare Supplement Plan.
Stick around.
The six month Medigap open enrollment period actually ties right into your
regular Medicare open enrollment period.
So I'll start with that, because it also covers the basics of Medicare.
When you are just turning 65 and enrolling in Medicare, you're going to
enroll in Medicare Part A and Part B.
Some people just have Part A, but then we're not talking about Medigap Plans,
because to have a Medigap Plan, you need something to supplement it.
In that case, you need both Part A and Part B.
However, to enroll in Part A and Part B, you've got what's called an initial
enrollment period.
That happens three months before your month of your birthday or you're turning
65, and then three months after that month as well.
Now, that's not a Medigap enrollment period, that's just to enroll in
Medicare.
Remember, I told you, there's a lot of enrollment periods.
However, focusing solely on the six month Medigap open enrollment period.
What that means is, from the time you take Part B Medicare, the effective date
of Part B Medicare, you have six months from that date to enroll in a Medigap
plan with no medical questions asked.
In fact, there's nothing asked.
Pick a plan, pick a company, they sign you up, and they don't ask anything.
They just say sign on the dotted line, they roll out the red carpet for you,
and you are guaranteed the coverage into that Medigap Plan.
Once again, that is six months from your Part B effective date.
When you start on Part B, it's on your red and white card.
Just take a look at that.
Six months from that date, you can enroll in a Medicare Supplement Plan
with no medical questions asked.
I hear a lot, "Well, Russell, I was just going to start my Medicare Supplement
Plan the same day as my Medicare."
And most people do, to be quite honest.
However, for you folks who have medical conditions, this can become extremely
important because obviously, that is a time period you don't want to miss if
you think you're going to be declined for coverage.
Well, that's why the government gives you this time period and says, "Here's
your six months, come on aboard, you can get any Medicare Supplement Plan in any
company. No questions asked."
Why is this important?
Well, unfortunately, over the last 11 years, I've been doing this, being an
independent agent.
I own Medisupps.com. I'm the founder, and we help seniors like yourself to
find the best coverage.
I've had a number of phone calls, as have my agents, of people, even the day
after the six month period ends, wanting a Medigap Plan and unfortunately had a
condition that was a declinable condition and we couldn't get them.
And I am talking to the day they missed it.
And it's heartbreaking, because that is your time period to come on.
They give you the six months.
And I understand, not everybody always knows the rules.
Medicare's entirely confusing. You're getting stacks of books in the mailbox.
Who wants to read those?
So, if you have any friends or family who are coming up on Medicare, who might
have a serious medical condition that you think might be a decline, just push
them on, send them to our website, Medisupps.com.
I'll give you the phone number here in a moment.
Whatever you do, don't let them miss that period or if it's yourself, don't
miss that six month Medigap open enrollment period where you can get
coverage, no questions asked.
I'll talk about another open enrollment period, which is the Medicare open
enrollment period, which happens every October through December.
That's probably the one you were thinking of as most people do when you
say Medicare open enrollment period.
During that time, which is October 15. through December 7, it's actually called
the Annual Election Period, or AEP for short.
However, even CMS and the government now just calls it the Medicare open
enrollment period.
Everybody kind of knows what they're talking about.
October 15 through December 7.
However, when it comes to your Medigap Plan, this is after you've enrolled in
that initial six month Medigap open enrollment period.
You've got your plan.
Now you're coming up on the first Medicare open enrollment period in
October.
That doesn't apply to your Medigap Plan anymore.
You don't need to change plans during that time for Medigap.
This is Medicare Supplement Insurance specifically.
That has nothing to do with that timeframe if you already have a Medigap
Plan.
Why is that?
Well, you can change your Medicare Supplement Plans at any time.
Anytime during the year. They keep us busy all year long.
We probably change 10 people a day, to be honest with you.
Or more, this last week was very busy, changing people and saving them money.
And I'm filming this in the month of August. Today is August 1, 2020.
And we're not in the open enrollment period.
That's because you can change your Medigap Plan at any time.
Now, what can you change during that regular Medicare open enrollment period
from October to December?
Well, a couple different things can only be changed during that time.
Those are if you have an Advantage Plan and you want to go to a different
Advantage Plan, you'd make that change during that time period.
Also, if you have a Medigap Plan and you want to go to an Advantage Plan, that's
the time period you can do it.
Not Medigap to Medigap, Medigap to an Advantage Plan.
Also, if you've got an Advantage Plan, you want to return to Original Medicare
and get on a Medigap Plan, that's the time to do it.
That's why we're so busy.
Now we're in August, our list is full of people that we are going to change come
October 1.
A lot of the carriers will let us submit the applications then, where we're going
to change them from a Medicare Advantage Plan back to original Medicare and onto
a Medigap Plan.
But during this time period as well, that's when you would change your Part D
drug plan.
Now, all of those that I just mentioned, all that coverage, any changes made
between October and December, October 15 through December 7 specifically, go into
effect on January one of the following year.
So we are coming up on the Medicare open enrollment period for 2021.
And if that is you and you have an Advantage Plan, and you want to come
back to Original Medicare and a Medigap Plan, call us now because we want to get
you in the pipeline.
Underwriting departments from all the carriers become extremely busy starting
in September, believe it or not, even with just the questions they get asked
and preparing for it all.
And then October 15 and beyond, you want to be in already.
We'll get you in line, we'll have you ready to go to come back to Original
Medicare off of your Advantage Plan.
We'll help find you the best Medigap Plan for the lowest premiums, and make
sure we can get you on with that as well, and whatever questions you have
about a Part D drug plan also.
So to do that, just call us today or visit Medisupps.com.
I give free rates on my website. There's no obligation.
We never hound you. We don't sell your information.
And I'm one of the few sites out there, if not the only site now, that actually
shows you quotes.
Easier is to just give us a call though, at 1-888-891-0229.
We're happy to help out, get you off that Advantage Plan, back to Original
Medicare and have you set for the next year, as well as many years to come.