Medicare's Annual Election Period is Here!

Medicare’s Annual Election Period is shorter and earlier than ever before, running from October 15 – December 7, 2011. It’s imperative that Medicare beneficiaries act quickly to research what type of coverage is the best for them. Per the rules developed by the Centers for Medicare and Medicaid Services (CMS), Medicare Advantage Plans began marketing on October 1^st and beneficiates may enroll in the plan of their choice starting October 15. The Annual Election Period ends on December 7, 2011.

There are multiple coverage options for Medicare beneficiaries, including Original Medicare, Medicare Supplemental Plans, Medicare Advantage and Stand-Alone Prescription Drug plans. Click here to read our previous post on The Benefits of Medicare Advantage plans. It’s important that you are educated about your coverage options and the important deadlines that you must abide by.

Here are a few tips on how to research the best plan for you:

1. At this time of year, you will receive a lot of mail from Medicare Advantage plans in your area. Review it to see if the plans have options that appeal to you.
2. Order enrollment materials or plan comparison charts from the plans that you like.
3. Once you’ve reviewed these materials, attend meetings for the plans you are most interested. If you don’t have time to attend a meeting, call the plans to speak to a sales representative.

And remember, you must make your decision by December 7^th to enroll in the Medicare Advantage plan of your choice.

Please reply in the comments with any questions or suggestions on how to wade through the multiple plan options and messages at this time of year.