Understanding Medicare
What is Medicare?
Medicare is health insurance for people over 65 years of age and for certain younger people who have been on Social Security Disability for 24 months. Medicare has several parts to help cover your medical and prescription costs, but it doesn't cover everything.
Medicare can be confusing, and the government makes changes to the benefits it provides yearly.
If you are getting ready to qualify for Medicare, or already have Medicare for your health insurance, the agents of Saint Joseph Health System Health Insurance Services (HIS) will help you get the information you need and enroll in a plan that is right for you. We are here to help. There is no fee for our services.
Need help signing up for Medicare or reviewing your current Medicare plans? Call the insurance agents at HIS at 855.887.5633 to make an appointment or email us and request more information.
Your Medicare coverage starts on the first day of your birthday month when you turn 65. If you are under 65 and become eligible for Medicare due to a disability, it will become effective on the first day of the 25th month of your disability. Once enrolled in Medicare, keep these dates in mind:
Oct. 15 - Dec. 7 is Medicare Annual Enrollment Period (AEP)
During AEP you may:
- Review and change your Part D prescription drug plan for next year.
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Change your Medicare Advantage plan for next year.
You can apply for a Medicare supplement (Medigap) plan any time of year.
The Medicare Advantage Open Enrollment Period (MA OEP) takes place from Jan. 1 to Mar. 31 every year. The Centers for Medicare & Medicaid Services (CMS) restored the MA OEP in Jan 2019 to replace the current Medicare Advantage Disenrollment Period, which previously ran from Jan. 1 to Feb. 14
The Medicare Advantage Open Enrollment Period (MA OEP) applies to:
- Individuals who are enrolled in an MA plan as of Jan. 1. These enrollees can use the Jan. 1 to Mar. 31 MA OEP to enroll in another MA plan or disenroll from their MA plan to return to Original Medicare.
- New Medicare beneficiaries who enrolled in an MA plan during their initial enrollment. These enrollees get an MA OEP starting the first month of entitlement to Medicare Parts A and B and ending the last day of the third month of entitlement. For example, if your client becomes eligible for Medicare in Feb., their MA OEP will start Feb. 1 and end Apr. 30. The Jan. 1-Mar. 31 timeline would not apply to them, because their Medicare eligibility is not valid until February.