What are “open enrollment” and “guaranteed issue” in Medicare?

Open enrollment is the only time to get Medicare Part D; take advantage of the guaranteed issue and get the policy that fits your need!

OPEN ENROLLMENT FOR MEDICARE EXPLAINED

The whole Medicare system is confusing at best and there are so many options available and the plans are sometimes confusing, but because our health situation changes what you had last year may not be working now. You may have gotten a bad deal last year. As an example if you have been enrolled in Orginal Medicare, but did not need a Medicare Part D for prescriptions, the open enrollment period: November 15 and Decmber 31 is the only enrollment period to buy the policy with out penalty costs. It is important to look at all of your options before making a decision to change. Your local State Health Insurance Assistance Program is an excellent place to get assistance. You can go armed with the Guaranteed Issue to whatever private policy for whatever contracted provider you find fits you best. The new policy period will take affect January 1, 2010.

GUARANTEED ISSUE EXPLAINED

The insurance industry has practiced for many years exclusions and/or higher premiums with pre-existing health concerns. Guaranteed Issue is the federal government regulation that guarantees the private insurance company issue policies to the Medicare beneficiary regardless of their healt conditions and guarantee that the premium not be increased except when allowed by law. If the health of the Medicare Beneficiary worsens he or she is still guaranteed the policy and the premium costs will maintain until there is an increase across the system. All of this is Guaranteed by federal regulation

OPEN ENROLLMENT IN JANUARY

The January to March Open Enrollment does NOT include Medicare Part D, except in special cases, but there will still be a penalty attached. The Guaranteed Issue is still in effect, but there are penalties for buying the Part D policy during the January to March enrollment period. The Department of Health and Human Services has a section for Medicare and Medicaid http://www.cms.hhs.gov

Related posts

1. Is There An Advantage To Delay Enrollment in Medicare Part B Plan?
2. How Do I Have My Medicare Benefits Changed?
3. When Can I Switch Medicare Health Plans?
4. When Is The Open Enrollment Period For Medicare?
5. Can Someone on Medicare get Supplemental Insurance?

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