Medicare 2015 - Open Enrollment
The 2015 enrollment period for Part D.
When Can I Join a Medicare Part D Prescription Drug Plan?
If you currently have Medicare Hospital or Medicare Medical Insurance (Parts A and/or B), you can enroll or re-enroll in a Medicare Part D Prescription Drug Plan (PDP) or Medicare Advantage Plan with Prescription Coverage (MA.PD) starting on October 15 through December 7, 2014.
This time period is called the Annual Coordinated Election Period and your newly chosen Medicare Part D plan begins on January 1of the following year.
So, for the 2015 Medicare Part D Plans, you can enroll between October 15 2014 and December 7, 2014. Your 2015 Part D Plan will begin January 1, 2015.
(2) If you turn 65 or become eligible for Medicare outside of the Annual Coordinated Election Period, you have a seven (7) month window in which to enroll in the current year's plan (2014) and avoid any possible penalties:
- the three (3) months before the month of your eligibility (for instance, your Birthday month)
- the month of your eligibility (e.g. the month you turn 65)
- and, the three (3) months after the month you become eligible for Medicare (again, three months after your Birthday month).
Your coverage will begin either on the first day of your Birthday month or, when you join during or after your Birthday month, on the first day of the month after the month in which you join.
Most seniors enrolled in Medicare prescription drug plans face double-digit premium hikes if they do not shop for a better premium deal.
When is open enrollment for part c & d 2015?
Medicare Open Enrollment 2015
You can only change your Medicare Advantage or Prescription Drug (Medicare Part D) coverage twice a year: During the Open Enrollment period and the Dis-Enrollment period.
From October 15 through December 7, 2014, Medicare beneficiaries and those who are eligible for Medicare all have the opportunity to enroll in the Medicare Part D prescription drug program.
Medicare Part D is one of the fed’s most successful programs and a program that affects the lives of millions of Americans. Part D provides Medicare beneficiaries in every state a choice of competing, affordable prescription drug plans to meet their medication needs.
The average monthly premiums for Medicare Part D prescription drug plans will remain the same in 2014 at approximately $30, the third consecutive year at that level.
Other changes to Medicare's Part D in 2015 include increases in price discounts for beneficiaries who find themselves in the donut hole.
The discount on brand name drugs in the coverage gap will increase from 50 percent to 52.5 percent, and generic drugs from 14% to 21%.
Source for the below: uticaod.com
Medicare Part A: Covers inpatient care in hospital, hospice and nursing home and home health care (but not long term care). Free for most.
Part B: Covers doctor’s visits, tests and other outpatient care. Charges a premium.
Part C: Medicare Advantage plans let private companies offer both Part A and Part B benefits with fewer out-of-pocket costs than original Medicare. Many charge a premium on top of the Part B premium.
Part D: Prescription drug coverage purchased from a private company.
Medigap: Supplemental insurance from private companies that covers the deductibles and co-insurance not paid by original Medicare. Plans run from A to N.
Open enrollment: The only period during which beneficiaries may change Advantage plans or opt in or out of original Medicare. Medigap coverage may be purchased any time.
Doughnut hole: A gap in prescription drug benefits. In 2015, Part D enrollees will pay a monthly premium and may, depending on the plan, pay a deductible on prescriptions. Once any deductible is met, they pay copayments or co-insurance for their drugs until total drug spending – what the plan pays and what the enrollee pays combined – reaches $2,970 for the year. Then the enrollee pays 47.5 percent of the cost of brand-name drugs and 79 percent of the cost of generics until total out-of-pocket expenses for the year reach $4,750. After that, the enrollee reaches catastrophic coverage and pays only a small portion of drug costs, either 5 percent or copayments of $2.65 for generics and $6.60 for brands, whichever is more.
EPIC: A New York program that helps low-income seniors pay for Part D premiums and supplements their out-of-pockets drug costs. To be eligible, seniors must make less than $35,000 or $50,000 for a couple. For more information or an application, call 1-800-332-3742 (TTY: 1-800-290-9138).
Medicare Open Enrollment 2015 | Medicare.gov 2015 | Medicare.gov Advantage Plans for 2015