As noted in Tip # 651, the Medicare Annual Election Period (AEP) started October 15^th and continues through December 7^th. 

Have you noticed the increases in co-pays and Out of Pocket limits for Advantage Plans? How about those premium increases for most Part D Drug Plans?

Wazzup with that?

Although privately administered, CMS (Medicare) pays for these plans and has slashed funding over the last two years. (Why?)  That’s a tough pill to swallow for Providers faced with rising costs, even as utilization increases. (Most of my Boomer buddies have new knees, hips or both!) 

Now comes the Marketplace Open Enrollment Period (OEP); it begins this Friday November 1^st and runs through December 15^th (for a coverage effective date of January 1) or January 15^th (for a February 1 effective date).

Remember, this was a key component of Obamacare, allowing anyone under 65 and not covered by an employer sponsored health plan to obtain coverage without regard to pre-existing conditions. 

Coverage options for 2025 can be previewed HERE.

Some interesting statistics next week.