Medicare Enrollment Period 2020

Published by Mike Lovell on September 25, 2020September 25, 2020

Medicare Annual Enrollment Period

New plans for 2021 will be released on October 1^st.  The Annual Enrollment Period is the time to make a change to your current Medicare plan.  This period runs from Thursday, October 15^th until Monday, December 7^th.  Changes made during this time will be effective January 1^st, 2021.

Key things to know

1. There are no BRAND NEW types of plans. Everything is either a Medicare supplement, prescription drug plan, or a Medicare Advantage plan
2. There may be new “versions” of these types of plans released for 2021, such as new prescription drug plans or new-to-the-area Medicare Advantage plans
3. If you want to change prescription drug plans or Medicare Advantage plans, it’s important to complete the change between October 15^th and December 7^th
4. If you have questions or want to make a change, call me at 608-571-4461 and I will help you

What about your current coverage?

Medicare Advantage

Do you currently have a Medicare Advantage plan?

You should have received notice from your insurance company in September about your Medicare Advantage plan.  Assuming your plan is renewing AND you are happy with your current plan then you don’t need to do anything.

But if your plan isn’t renewing.  Or you’re not completely satisfied with your plan then you should see what else is available for you.

Here’s some key reasons to review your Medicare Advantage coverage:

• Changes to your medication list
• You want to change doctors or hospitals
• Insurance company changes network of doctors or hospitals
• New versions available for your county that could have a lower total cost or more benefits

Medicare Supplement

Medicare supplements do not follow the Annual Enrollment timeframe the same way Medicare Advantage and Prescription drug plans do.

So if you are happy with your Medicare supplement, then you don’t need to do anything.

Your plan will automatically renew and your coverage will remain in force as long as you pay your premium.

But if you haven’t shopped your Medicare supplement coverage in the past few years then now may be a good time to review that as well as your drug coverage.

If you would like to compare Medicare supplement pricing from other companies, then please let me know and we can easily compare.  We can do this at any time during the year since Medicare supplements are NOT impacted by the Annual Enrollment Period.

If you want to change to a Medicare Advantage plan, then the Annual Enrollment Period is the time to do so.  Please call me to review options.

Prescription Drug Coverage

Prescription drug plans work in a similar way to Medicare Advantage plans.

You should have received a letter from your PRESCRIPTION drug insurance company in September.  This letter is called the Annual Notification of Change.  It will confirm that your plan is being renewed and if there are any changes to the benefits for next year.

If you are happy with your current plan and it is renewing, then you don’t need to do anything.

Key reasons to review prescription drug coverage:

• Changes to your medication list
• Changes to the monthly premium of your current plan

New versions available for your county that could have a lower total cost

If you want to compare options or change plans then please call me directly for help at 608-571-4461 or Toll Free 855-712-7316 to review what is available for you.  It’s important this is done before the end of the Annual Enrollment Period.

Mike Lovell
Call or Text 608-571-4461
Toll Free 855-712-7316
Email Mike@askMedicareMike.com