It’s That Time of Year!!! – Medicare Open Enrollment

medicare open enrollment oct 15Most seniors enrolled in Medicare prescription drug plans face double-digit premium hikes if they do not shop for a better premium deal.

When is open enrollment for part c & d 2015?

Medicare open enrollment season starts Oct. 15th and beneficiaries have a variety of choices of subsidized prescription plans.


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You can only change your Medicare Advantage or Prescription Drug (Medicare Part D) coverage twice a year: During the Open Enrollment period and the Dis-Enrollment period. Medicare part b premium 2015.

Almost 90% of Medicare’s nearly 50 million beneficiaries have some form of prescription drug coverage, with more than 17 million enrolled in private drug plans through the prescription drug program. Of those, 14 million are in the top 10 plans.

 

Important Dates:

  • October 15, 2014– Medicare open enrollment period begins for the 2015 benefit year
  • December 7, 2014– Medicare open enrollment period ends for the 2015 benefit year

January 1, 2015 – Changes made during open enrollment period take effect.

From October 15 through December 7, 2014, Medicare beneficiaries and those who are eligible for Medicare all have the opportunity to enroll in the Medicare Part D prescription drug program.

Medicare Part D is one of the fed’s most successful programs and a program that affects the lives of millions of Americans.  Part D provides Medicare beneficiaries in every state a choice of competing, affordable prescription drug plans to meet their medication needs.
Other changes to Medicare’s Part D in 2015 include increases in price discounts for beneficiaries who find themselves in the donut hole.
The discount on brand name drugs in the coverage gap will increase from 50 percent to 52.5 percent, and generic drugs from 14% to 21%.
Medicare Part A:

Covers inpatient care in hospital, hospice and nursing home and home health care (but not long term care). Free for most.

Part B: Covers doctor’s visits, tests and other outpatient care. Charges a premium.

Part C: Medicare Advantage plans let private companies offer both Part A and Part B benefits with fewer out-of-pocket costs than original Medicare. Many charge a premium on top of the Part B premium.

Part D: Prescription drug coverage purchased from a private company.

Medigap: Supplemental insurance from private companies that covers the deductibles and co-insurance not paid by original Medicare. Plans run from A to N.

Give us a call to set up an appointment to make sure your current plan is still a right fit for you (909) 792-3300.