Medicare Enrollment Is Now Open

The annual Medicare Open Enrollment Period has begun. From October 15 to December 7, 2013, Medicare beneficiaries have to opportunity to change their Medicare managed care plan and prescription drug coverage for 2014. In other words, you can enroll in or change your Medicare Advantage plan during this period. You can also change Part D plans.

What does this mean for you? You should review your current drug prescriptions to make sure that your Part D plan provides the best coverage for the medicines that you are currently taking. If there is a significant gap in your current benefits, you should compare the drug formulary for your current plan with other plans to see if it makes sense to change plans. You should also compare co-pays and other costs.

You should also make sure that you have received all of your “no cost” preventative health screenings that are available to Medicare beneficiaries for this year.

Remember that Medicare is not part of the ACA. You are not enrolling through the Health Insurance Marketplace. You are not replacing your Medicare insurance with Marketplace Insurance. You will continue to have the Medicare benefits that are available to you.