Open Enrollment for Medicare and the Health Exchange

from Glo - November 2019

Tracy Yost Rachel Pritz

By Cathy Shouse

Fall not only brings pumpkins, mums and a chill in the air, but it’s also the time when you or loved ones might potentially have decisions to make about open enrollment for Medicare and the Health Exchange. Both of these subjects can seem complex and a bit overwhelming, especially if it’s your first time. That’s why we’ve gathered some expert tips and resources to get you started.

Ric Runestad, investment advisor representative with Runestad Financial Services LTD, said the important thing is to start the process early and keep important dates in mind. While it’s tempting to procrastinate, the deadlines are fixed and the repercussions for missing them aren’t pretty.

Health Exchange Open Enrollment 101

Open enrollment for the health exchange is Nov. 1 until Dec.15 in Indiana (other states may differ).

+ To check out the available options, go to www.healthcare.gov

+ To purchase dental, vision or term life, select “Shop plans.”

+ Coverage will start Jan. 1, 2020

Note: You’ll need your Social Security number, date of birth, address and Medicare number, etc. If you qualify for Medicaid or the Children’s Health Insurance Program you can apply for these programs any time.

Medicare Open Enrollment 101

Open enrollment for Medicare is from Oct.15 until Dec. 7.

• Enrollment can occur for both Prescription Drug Plans or Medicare Advantage Plan.

• Every year people can change either their PDP or MAPD.

• Medications and formularies can change every year so it makes sense to make sure you still have the most competitive plan for next year.

• MAPDs plans are also frequently changed, so if you have a MAPD, you also want to make sure it is still the best plan for you for the upcoming year.

If someone misses the last date, can anything be done?

“For MAPDs and PDP the dates are set and you must make your changes during that window,” Runestad said.

Along with researching online, you can always call someone local to help. It’s possible your income level will impact your health exchange premiums. The important thing is to get an early start, to gather all the information you need, and to avoid being rushed into a decision. Also, if there is a last-minute crash on the website due to all of the traffic, you will not need to be concerned.

“If you are under age 65 and looking for Affordable Care Act exchange coverage, I would certainly work with an agent. They will understand this much better than an untrained person who is trying to make heads or tails of the confusion of the website,” Runestad said. a photos: shutterstock.com

Resource: Runestad Finance, Leo, 260.627.3333, runfs.com

December 6, 6 – 8p

Watch Santa arrive on a Firetruck! Kids can visit with Santa and see a live reindeer.

10a – 5p

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