Medicare was created to provide health insurance for all people 65 years of age or older. It has gone through many changes over the years. More recently, a new program was added to help cover prescription drug costs.
This year the Medicare enrollment is set for 2017. What this means is that between October 15, 2016 through December 7, 2016, you will have the opportunity to look at the market place to see which plans including;
Medicare Supplemental plans, or gap plans, are available for year 2017.
Important facts to remember
- You also are normally eligible to choose a Medicare Supplement plan in a 7 month window: 3 months prior to your birth month that you’re turning 65, your birth month, and the 3 months following.
- Not enrolling in a Medicare Supplement plan or a Part D prescription drug plan when you are first eligible may result in long-standing penalties.
- Special Medicare Coverage- Part D – Drug coverage
- Each Medicare Prescription Drug Plan has its own list of covered drugs. Starting in 2017, almost all people need to be enrolled in Medicare or have an “opt-out” request on file with Medicare for your prescriptions to be covered by your Medicare drug plan.
- One way to get drug coverage is through, Medicare Prescription Drug Plan (Part D). These plans add drug coverage to original Medicare plan.
We are ready to help you with all your Medicare needs, call us today. Look for more helpful information in weeks to follow.