The application period ends for Medicare beneficiaries whose plan has left the area

The application period ends for Medicare beneficiaries whose plan has left the area

Every year, Medicare prescription drug PDP or PDP and Aetna Medicare Advantage plans are modified here Such changes must get the approval from the Center for Medicare and Medicaid Services (CMS). If such modifications do not get approval or if the firm decides that a particular plan they offer is not profitable, they will stop offering the plan for next year. When this happens, the company offering the plan must send a notice to all members currently enrolled in the plan to notify them that they will not be able to continue with the current plan for next year.

What are you doing now?

If you receive one of these warnings, don’t panic! I know that change is difficult, but sometimes it can be a blessing in disguise! First, you will have plenty of time to make changes to Medicare coverage. Second, it is always protected by the Medicare system. These protections include special assignments to allow you to switch to other Medicare coverage. You even get a SEP that allows you to enroll in a Medicare supplement without having to answer health questions! So, if your health has decreased, or if you only want additional protection from the Medicare supplement, you can now participate!

How much time do I have?

February marks the end of the CMS enrollment period for Medicare beneficiaries who have lost coverage due to their plan to leave the area. CMS will send a notice that it is granting the Special Enrollment Period (SEP) to people affected by non-renewals of Medicare Advantage (MA) and Part D (PDP) or service area (SAR) reductions by the end of February. In the past, you only received until the end of January the necessary changes in your coverage. These notices are generally sent before November, which gives you more than four months to find a suitable replacement for your current coverage.

Do not confuse this Special Enrollment Period (SEP) with the Annual Enrollment Period (ADP)! ADP runs from January 1 through February 14 and only allows you to leave your current Medicare Advantage plan and get a PDP. Medicare Advantage plans are offered by companies such as Humana, United Healthcare, Wellcare and Health Springs. This enrollment period is for all Medicare beneficiaries and is not a SEP. For more information on this election period, visit my publication on the Annual Breakdown Period.