UNITED STATES—Dear Toni, I turned 65 in February and did not enroll in a Medicare Prescription Drug plan. I’ve been told that I must wait until October for Medicare’s Annual Enrollment time. I need help now because I have been diagnosed with Parkinson’s and my brand name prescription is expensive. I thought I could enroll at any time of the year. What can I do? James, Memphis, TN.
Hello James: Medicare’s Annual Enrollment is the time when one can enroll in either a standalone Part D Medicare Prescription Drug plan or a Part C Medicare Advantage plan (with or without a Prescription Drug plan). This enrollment opportunity lasts for approximately seven weeks.
Medicare Annual Enrollment does not involve changing or enrolling in a Medicare Supplement. The Medicare Annual Enrollment Period is only for enrolling in or changing a Medicare Part C Medicare Advantage Plan or Medicare Part D Prescription Drug Plan.
This year’s Medicare Annual Enrollment begins Sunday, October 15, and it will end at midnight on Thursday, December 7 (Pearl Harbor Day). Any plan in which you enroll will have January 1 effective date.
James, since you did not enroll in a Medicare Part D plan when turning 65, Medicare’s AEP is the time when you can enroll, but remember that you will have a Medicare Part D penalty for not enrolling when turning 65. Medicare’s AEP is also the time when one can compare costs and choose a different Medicare Prescription Drug (Part D) plan or change to a Medicare Advantage (Part C) plan.
Below are the changes that one on Medicare can make during this AEP (Annual Enrollment Period):
- Enroll in a Medicare Prescription Drug (Part D) Plan.
- Change from one Medicare Prescription Drug (Part D) Plan to a new Part D Medicare Prescription Drug Plan.
- Enroll in a Medicare Advantage (Part C) Plan with Prescription Drugs
- Change from one Medicare Advantage (Part C) Plan with or without Prescription Drug plan to a new Medicare Advantage (Part C) Plan.
- Return to Original Medicare and purchase a Medicare Supplement and enroll in a stand-alone Medicare Prescription Drug (Part D) Plan.
- Return to Original Medicare only and enroll in a stand-alone Medicare Prescription Drug (Part D) Plan.
- Or Return to Original Medicare with no Part D plan. *Please note there is a penalty for not enrolling in a Medicare Prescription Drug (Part D) plan when first eligible.
For those who already have either a Medicare Advantage (Part C) plan with or without prescription drugs or a stand-alone Medicare Prescription Drug (Part D) plan, Medicare’s Annual Enrollment is the time to make sure your drug plan or Advantage plan still meets your needs. Especially, if you had any changes to your health this year that is now requiring expensive brand-name prescriptions.
It has been acknowledged that some MAPD and Part D plans have changed premiums for 2024. Please verify that your prescription drugs are covered on your 2024 MAPD or Medicare Prescription Drug plans formulary. If your prescriptions are not covered for 2024, you will have to pay 100 percent of that prescription cost out of your pocket.
Visit www.medicare.gov to view 2024 Medicare Part D and Medicare Advantage plans with enrollment starting October 15 with a January 1 effective date. The website has a tool for helping you narrow your search for new Medicare Advantage and Prescription Drug plans.
With Medicare, it’s what you DON’T know that will HURT YOU! Need Medicare help? Call the Toni Says Medicare hotline at (832) 519-8664 or email info@tonisays.com for assistance. Toni’s books are available at www.tonisays.com with a bundle discount for Toni Says® readers.
