Planning for the Medicare Annual Enrollment Period Starts Now

As the Medicare annual enrollment period approaches, advisors, insurance agents and employers must carefully consider the needs of Medicare-eligible people who are still working and who still have access to employer-sponsored health benefits aimed at active workers.

This group has unique health care needs and may benefit from resources and guidance on choosing between employer-provided benefits and Medicare options.

What should you consider when planning for open enrollment for Medicare-eligible workers?

The Medicare program’s annual enrollment period for Medicare Advantage plans and Medicare supplement insurance policies runs from Oct. 15 through Dec. 7. It’s separate from the initial enrollment period that occurs around the time people turn 65.

While workers with group health coverage generally are not required to enroll in Medicare when they turn 65, a special enrollment period allows an actively working employee to enroll in Medicare Part B outpatient services and physician services coverage at any time.

Employers and financial professionals should consider providing resources Medicare-eligible workers can use to navigate their health care options.

Here are some aspects to consider:

Basic Alternatives For Medicare-Eligible Workers

You and your employer clients should ensure that Medicare-eligible workers are well-informed about their health care options, which typically include:

Employer group health plans: As their original form of coverage, many employees may choose to stay with their employer-provided health insurance.

Medicare plans: Any Medicare-eligible employee’s options include Original Medicare, Medicare Advantage Plans, Medigap Supplemental Plans, and Part D Prescription Drug Plans.

Providing Resources and Guidance

You and your employer clients can assist Medicare-eligible workers by offering resources to help them understand Medicare and make informed decisions.

Here are ideas about what you and employer clients can provide:

Educational workshops and seminars: Host sessions to explain Medicare basics, enrollment periods, and how to compare Medicare with employer-sponsored plans.

Consultation services: Provide one-on-one consultations for employees.

Online resources: Create a dedicated section on your website or employer clients’ intranets with articles, FAQs, and links to official Medicare resources.

Advantages of Medicare Plans

For some clients, and some of employer clients’ employees, Medicare may offer advantages over employer-sponsored health plans, such as:

Broader networks: Beneficiaries who use Original Medicare together with Medicare supplement insurance can see any doctor who accepts Medicare, providing more flexibility in choosing health care providers.