Do you know Medicare Supplement Plans coverage changes every year?

If you have Part A and Part B, Original Medicare, there is no need for you to reapply each year. Yet, each year during (October 15 – December 7), the Annual Election Period, you may consider whether you would be benefited from enrolling in or wish to change some Medicare Supplement Plans or/and a Medicare prescription drug Part D plan.


Medicare Supplement Plans offers benefits and is affordable as it bears the costs that go beyond your pocket. These plans are available with private insurance companies. However, if you are enrolled already in Medicare Supplement Plans or/and Medicare Prescription Drug Part D coverage, it is best you stay aware of these details:


Medicare Advantage Organizations and the sponsors of Prescription Drug Plan, each year renew their contracts by submitting a plan for New Year with Medicare. This includes the cost sharing details and the benefits. This is approved only after Medicare reviews the plans and benefits.


In case the proposed changes are Medicare approved, your existing Medicare Supplement Plans or the membership for Prescription Drug plan gets automatically renewed. This renewal is done as long as you pay the plans monthly premiums that are applicable and also the Part B Medicare.


In case your plan leaves Medicare, you receive in the mail a Non-Renewal Notice informing you that you must find for the coming year a new plan. This notice will be received by your before the existing year October.


Thus, regardless of your case, it is best to compare Medicare Supplement Plans in 2019 and also the Part D Medicare Advantage Plans that alter costs and benefits every year. Having part D Medicare prescription drug plan or Medicare Supplement Plans enrolled means you must consider the changes taking to the drug list every year.


This is because you will know the affect it will have on your plan and what is the amount you need to pay for prescription medications. Each year, your health also undergoes a change that you may decide whether you require less or more comprehensive coverage than the provision of existing plan.


As you know now about Medicare Supplement Plan, keep your eye open to know the changes in the plans with each passing year. This will keep you updated on the plans and coverage available. Thus, you can consider new plans, compare the plans, take free tools for comparison and if required speak to a licensed agent to know more about insurance and its coverage.

Moving to another state, Understand Medicare Supplement Plans changes

Have you got transfers in your job and are expected to move to a new state or have you moved just now? It may seem as too many question in your busy time, but there are a few tasks you must make sure that goes smoothly without interruption such as the Social Security and Medicare benefits.


What coverage does Medicare have?

If you are a resident of the United States, it means including the U.S. Virgin Islands, Northern Mariana Islands, the District of Columbia and Puerto Rico, Guam, you are fortunate as you can retain the same Part A and B Original Medicare coverage.  But, if you are moving to some other state, there is a need to notify the health-care providers so that the medical records are transferred.


If you also have Medicare Supplement Plans policy or Part D Medicare for prescription drug plan, apart from the benefits of Original Medicare, you must know how it may affect your plans with your address change.


Moving to another state

In case you are enrolled with Medicare Supplement Plans or Part D Medicare Prescription Drug plan and now have a residence change means you are moving to another state, you can qualify for SEP, a Special Election Period. During this period, you are permitted to get enrolled into a new plan available in your new service area.


In case you are moving permanently to a place that is not covered by Medicare supplement plans means it is not in the service area. If so, immediately tell your plan and notify before you are moving from this place. This is because the timeframe for SEP is for four months and starts from the first month before you move and lasts for three months after you move. On notifying your plan after moving, you are permitted even to switch plans from the month you have given the moving notice and this can be done after and up to two months.


You can switch to new Medicare Supplement Plans or to Prescription Drug Medicare Plan during this moving period to a new service area. However, you also have the choice if you prefer to return to the Original Medicare.


You have Medicare Supplement plans?

If you have now Medicare Supplement plans for 2019 and this plan is not available in the new area, then your Medicare plan should be disenrolled.  In case you fail to enroll during your SEP into a new Medicare Supplement Plans, you will return to Part A and B Original Medicare.

However, if you have already moved and the SEP period is over means you need to wait for October 15 to 7 December, the Annual Election Period to get enrolled.