Insurance Insights

October 5-11, 2015

Get ready for Medicare Open Enrollment

By Allen Kerr

This month, it is important to be prepared for Medicare Open Enrollment. Running from October 15 to December 7, open enrollment is when Americans with Medicare can change their Medicare health plans and prescription drug coverage for 2016 in order to better meet their needs.

During the open enrollment period, Medicare-eligible people can:

• Change from Original Medicare to a Medicare Advantage Plan.

• Change from a Medicare Advantage Plan back to Original Medicare.

• Switch from one Medicare Advantage Plan to another Medicare Advantage Plan.

• Switch from a Medicare Advantage Plan that doesn’t offer drug coverage to a Medicare Advantage Plan that offers drug coverage.

• Switch from a Medicare Advantage Plan that offers drug coverage to a Medicare Advantage Plan that doesn’t offer drug coverage.

• Join a Medicare Prescription Drug Plan.

• Switch from one Medicare drug plan to another Medicare drug plan.

• Drop your Medicare prescription drug coverage completely.

Medicare health and drug plans can make changes each year things like cost, coverage, and what providers and pharmacies are in their networks. People in a Medicare health or prescription drug plan should always review the materials their plans send them, like the “Evidence of Coverage” (EOC) and “Annual Notice of Change” (ANOC). If their plans are changing, they should make sure their plans will still meet their needs for the following year. If they’re satisfied that their current plans will meet their needs for next year and it’s still being offered, they don’t need to do anything.

It’s worth it to take the time to review and compare your Medicare coverage options, but you don’t have to do it alone. There are several avenues for assistance.

• Visit AID’s Senior Health Insurance Information Program (SHIIP) at http://Insurance.Arkansas.gov/shiip.htm or call us at 800-224-6330.

• Visit http://Medicare.gov/find-a-plan to compare your current coverage with all of the options that are available in your area, and enroll in a new plan if you decide to make a change.

• Call 1-800-MEDICARE (1-800-633-4227) 24-hours a day/7 days a week to find out more about your coverage options. TTY users should call 1-877-486-2048.

• Review the Medicare & You 2016 handbook. It’s mailed to people with Medicare in September and is also available online at http://Medicare.gov.

It is my pleasure to continue to serve you as your Insurance Commissioner. For more information on the Arkansas Insurance Department, please visit http://insurance.arkansas.gov, follow us on Twitter at http://twitter.com/ARInsuranceDept and Facebook at http://www.facebook.com/ArkansasInsuranceDepartment.