Medicare Annual Enrollment
What you need to know if you are still working
Who needs to take action during AEP?
The Medicare Annual Enrollment Period (AEP) runs from 10/15- 12/7 each year.
The deadlines only pertain to those who are already enrolled in a Medicare Advantage or Medicare Prescription Drug Plan and want to make changes.
Unless you are already enrolled in a Medicare Advantage or Medicare Prescription Drug Plan, you do not have to take any action during AEP.
Who needs to take action during AEP? - 1m 46s
Is your Group Health Plan renewing?
Does it make sense to drop my group health plan to enroll in Medicare?
A general rule of thumb is that if your group health plan costs on average less than $350/month/person or about $4,200/year/person, then your group health plan is more cost-effective than Medicare.
- Please add up the premiums, copays, deductibles, and coinsurances (everything except Rx cost) of your current group health plan for comparison.
However, if you think you may pay more than that, or you are seeking lower deductibles and copays, then you may want to explore Medicare further.
Turning 65?
There are a number of factors that determine when to enroll in Medicare Part A and Medicare Part B.
Use our questionnaire to find out the best time to enroll based on your situation.
Is your Prescription Coverage Creditable?
Employers providing prescription drug coverage to Medicare Part D-eligible employees and dependents must notify them if the coverage is creditable, as per Medicare Part D requirements.
Most Group Health Plans have creditable coverage for Part D deferral. Typically only higher deductible plans that do not offer any first dollar Prescription Benefits fit into this category.
Your Employer should notify you if there is any concern about your plan being creditable.
Visit the following pages for more information on plan options
Medicare Supplement Plan Options
Medicare Advantage Plan Options
Medicare Part D Prescription Plans