One thing we can always count on is change.  Personally, I am not always happy about this.  I’ve often thought, “Why can’t things stay just the way they are?”  We get comfortable with the status quo, sometimes for the good, sometimes for the worse, but comfortable nevertheless.  It’s just easier to navigate when we know what to expect, right?  My pet peeve is having to change my passwords!

But change does come, and when it comes, we need to be ready.  Sometimes the change is because we are getting ready to retire – perhaps at age 65 or even later than that.  Maybe it’s a change of address because we are downsizing or moving closer to our adult children.  Perhaps our health has changed and we are moving into senior housing or an assisted living facility.  Or we’ve been deemed redundant at work and are no longer eligible for healthcare.  Or your retirement portfolio has tanked and you find yourself in financial dire straits!  These are all examples of changes that can occur that affect our Medicare insurance plan coverage.  Medicare calls them Election Periods and there are over 30 of them.   

Speaking with a licensed insurance agent that specializes in Medicare insurance plans is a very good way to determine what, if any, election period applies to you.  You want to be sure that you have considered which apply to your particular situation because a misstep can result in a denied insurance application and coverage.  A few examples are:  AEP – annual election period that occurs each fall; IEP – new to Medicare &/or turning 65; SEP – change in residence; SEP – loss of employer health coverage.  Whichever election period applies to you, verify that it is the correct one for your unique situation.  You’ll be glad you did!

Kathy Thousand…

We do not offer every plan available in your area. Currently we represent 8 organizations which offer multiple products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.