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By Deana Lemmon, LTCP
Editor’s note: Sarvey Insurance is hosting a free, educational-only information session, “Medicare 101,” at the DuBois Homewood Suites on Thursday, August 25th from 6-8pm.
If you live in North-Central Pennsylvania, you are no stranger to the annual cycle of change brought about by our four brilliant seasons. From October 15, 2022 until December 7, 2022, another time of change is upon us – the annual Medicare Open Enrollment Period.
“Like the Commonwealth of Pennsylvania, Medicare comes in many parts and has several options that help those who qualify customize their coverages,” says Deana Lemmon, Long-Term Care Professional at Sarvey Insurance.
According to medicare.gov, those who qualify for first-time enrollment in Medicare Parts A & B, as well as other options like Medicare Advantage Plans, Medicare Prescription Drug Plans, and Medicare Supplement (Medigap) insurance can do so within a seven month window – 1) during the first three months before they turn 65, 2) the month that they turn 65, and 3) during the three months after they turn 65.
But what happens if at some point along the way you change your mind about the type of coverage that you need?
“The annual Medicare Open Enrollment Period is a great time to research your options;” declares Lemmon, “People make changes for all types of reasons – you might be paying for benefits that you don’t need, you may need more benefits, you may want to change your insurance company if you have a Medicare Supplement plan, or you may want a policy that costs less.” From October 15, 2022 to December 7, 2022, those who qualify for Medicare may make changes to their healthcare.
Lemmon helped us identify some of the change options people have during the annual Medicare Open Enrollment Period:
- People may change from Original Medicare to a Medicare Advantage Plan.
- Those who have a Medicare Advantage Plan may opt to change back to Original Medicare.
- Qualified individuals may switch from one Medicare Advantage Plan to another Medicare Advantage Plan.
- An individual may choose to switch from a Medicare Advantage Plan that doesn’t offer prescription drug coverage to a Medicare Advantage Plan that does offer drug coverage.
- People may choose to join a Medicare Prescription Drug Plan.
- Individuals my change from one Medicare Prescription Drug Plan to another Medicare drug plan.
- People can switch from a Medicare Advantage Plan that offers drug coverage to a Medicare Advantage Plan that doesn’t offer drug coverage.
- Some individuals may opt to drop their Medicare Prescription Drug coverage completely.
- Many individuals will explore and research their (Medigap) Medicare Supplement insurance options.
According to Lemmon, “There may be other enrollment periods that individuals with special circumstances qualify for throughout the year – when in doubt, you want to reach out to your local insurance agent to discuss your situation and your Medicare options.”