Annual Enrollment Period or AEP

Begins October 1, for quoting and applications can be submitted from October 15th to December 7th 

This is the time that those currently enrolled in a Medicare Advantage or a Stand Alone Prescription Drug plans can review the plans and make changes if needed.

 

The December 7th date does not apply to those retiring at the end of the year and enrolling in Medicare and supplemental plans for the first time. These individuals will have until the end of the month of December to enroll.

 

As always there will be slight rate increases and modifications to the Medicare Advantage, Prescription Only and Supplement plans for 2022. New plans are being added to the existing carriers’ offerings. 

 

Please aware that the advertisements on TV that offer dental and vision are not offering full dental and/or vision coverage. It is coverage for dental cleanings and vision offers only a small reimbursement for glasses. They are very nice benefits to have, just not full coverage like some of the ads seem to imply.

 

And as advertised, many plans have no monthly premiums beyond the Part B premium, no deductibles and $0 copay for your primary care doctor and some very low-cost drugs. There will however be some tradeoffs for these benefits, so it is always good to look at ALL the benefits before making a final choice.

 

The Part B deductible, Part B base premium and Income Related Monthly Adjustment Amounts for Part B and Part D have not yet been released. That will come sometime between November and February. (this is common)

 

What do you need to do

If you are happy with your plan(s) and the changes for 2022, you do not have to do anything. Your plans automatically renew unless you make changes.

If you have seen plans advertised, or heard about a plan from a friend, we can look at how they would work for you. The key is are your providers and prescriptions covered and how.

 

If you are unhappy with your plan(s) we should do a review. Which means please reach out as soon as possible and let me know. We will discuss the plans and what I need to look at alternatives for you.

 

And as always, if you have questions, please reach out!

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