Medicare Supplements
The best time to buy a Medigap (Medicare supplement) policy is during your 6-month open enrollment period, because you can buy any policy sold in Wisconsin, even if you have health issues or concerns.
The open enrollment period automatically starts the month you’re 65 and enrolled in Medicare Part B (Medical Insurance). After this enrollment period, you may not be able to buy a Medigap policy due to health reasons. If you’re able to buy one, it may cost more.
The Medicare Annual Enrollment Period, also known as the Annual Election Period (AEP,) happens annually from October 15th to December 7th.
The AEP is the time of year when you can change your Medicare coverage. You can do this by joining a new Medicare Advantage Plan or by joining a new stand-alone prescription drug plan (PDP). You can also switch to Original Medicare with or without a stand-alone Part D plan from a Medicare Advantage Plan during this time.
Medicare Annual Election Period Begins October 15th! If you are 65-years old or older, or qualify due to certain disabilities, and are on Medicare, you probably already know it’s the time of the year where you can change your Medicare insurance program.Between October 15th and December 7th, you can choose between a traditional Medicare supplement insurance policy, or opt for a Medicare Advantage program. It is also the time in which you can elect to participate, or not participate in Medicare’s prescription drug program.
Confused?
Medicare choices can be confusing. If you have questions about your choices, feel free to call or email Heidi Kluczinske of Gutman Insurance. Heidi will be more than happy to listen to your questions and provide you with your options.
