Do You Need to Enroll in Medicare Every Year?
If you are not sure whether you need to enroll in Medicare every year when the enrollment period is opened, the team at Hyers & Associates is here to help. We’ve detailed information below, however, we also welcome your call anytime.
In most cases, you do not need to enroll in Medicare each year. You do want to check your coverage elections to make sure you have the most suitable policies for the upcoming year. Our team is always available to take your call and help you with any questions or concerns you might have.
If You’re Already Enrolled in Medicare Part A & B
After your initial enrollment into Medicare you do not need to enroll in your Medicare A & B every year. However, the annual election period held from October 15 through December 7 is a good time for you to take a look at your current elections. You’ll want to decide whether you would like to add (or make changes) to your optional Part D Prescription Coverage – or consider a new Medicare Advantage Program.
Your Medicare Advantage Program and Part D Prescription
The Medicare Advantage Program and the Part D Prescription Drug coverage are both provided by private insurance companies. Every year these private companies take a look at changes they would like to make and submit their new plans to Medicare for their approval. If Medicare approves their proposed changes your Medicare options will usually automatically renew.
If their proposed does not meet approval or the insurance company removes the plan from your area, then you will be notified. In the event they are dropped from the program you will receive a ‘Plan Non-Renewal Notice’ through the mail letting you know that your current plan will no longer be available. The ‘Plan Non-Renewal Notices’ normally arrive by October of each year so you will know you need to shop for a new plan while the Medicare open enrollment period is open.
Other Reasons to Make A Change
There are other questions you should think about. Have you experienced changes in your health which will affect your choices? Do you want to consider trying the Medicare Advantage Program? Are your preferred doctors and hospitals still in network? Has your current Part D Prescription Coverage provider changed their pricing? And have they changed the prescriptions they will cover?
If you answered ‘yes’ to any of these questions you should take a closer look at whether you want to maintain your current program. It is possible they won’t cover drugs you currently take. Or have added new (or stopped taking) some medications and need to change your drug coverage list? This is your one opportunity to take a second look at your coverage before committing for another year.
If You’re Enrolling for the First Time
If you are already getting Social Security benefits when you turn 65, you will automatically be enrolled in Medicare Parts A & B. You will know this has happened as you’ll find a ‘Welcome to Medicare’ packet in your mailbox. You may also receive automatic enrollment if:
- If for any reason you don’t currently have Medicare coverage. This may have happened if you delayed starting your Social Security at age 65.
- You have had Social Security Administration or Railroad Benefits for disability for 24 months or more.
- You delayed enrolling in Medicare Part A or B.
Also, if you have any of the following health problems different enrollment rules apply:
- If you have ALS, also known as Lou Gehrig’s disease, your Medicare enrollment begins as soon as your coverage for these diseases gains approval.
- If you are younger than age 65, but have end-stage kidney failure, and need dialysis or a kidney transplant you may qualify for Medicare.
When you’re ready to enroll in Medicare you can do that by:
- Go to your local Social Security office.
- Enroll online over the internet at the Social Security website.
- Call the Social Security Administration at 1-800-772-1213
Contact Us!
The team at Hyers & Associates would love to help you evaluate your current Medicare insurance plan and show you what is available in the upcoming year. You can only change plans once a year. You don’t want to end up with too little coverage or paying for more coverage than you need. Our team members are friendly, up to date on recent changes, and waiting for your call.
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Category: Medicare Advantage, Medicare Supplements