When is the Medicare Open Enrollment

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Hi, this is Peter, your insurance broker.

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Today, we are discussing…

When is the Medicare Open Enrollment

The answer is October 15 - December 7.

This period is technically called the Annual Election Period.

During this period, everyone who is eligible for Medicare (usually 65yrs and older) has a chance to select a new plan for the new year!

If you have a Medicare Advantage plan and/or a stand-alone Prescription Drug Plan… this is a very important time for you to review, renew or switch your plans.

This is also the time when you’ll see lots of TV commercials, get tons of junk mail and receive constant unsolicited phone calls.

Beware of any Medicare sales call center!

If you don’t know them, I’d hesitate to talk with them, as they don’t necessarily have your best interest at heart, but are just trying to make a quick sale.

**What should you do during the Medicare Annual Election Period?**

#1 Contact Your Trusted Broker

Medicare plans are confusing and you want to choose the right one to fit your needs. Make sure your doctors are in your network. Check that your prescriptions are covered. Look for other special benefits offered.

Always work with a trusted broker you know - not a sales call center!

#2 Review the updates to your current Medicare plan.

Your insurance company sends you the updates and changes. You can also ask your insurance broker to let you know if there are any significant changes.

The good news is that usually the plans just get better!

#3 Make all changes before December 7.

Don’t delay. You don’t want to miss the deadline.

If you need to make a change, work with your Broker and do it before Thanksgiving!

BOTTOM LINE:

The Medicare Annual Election Period is October 15 - December 7.

NEXT STEPS

Renew your plans or make any changes during this time.
Always work with a trusted broker you know - not a sales call center!
Email your questions to info@appleinsurancesolutions.com and if you need a personalized insurance consultation, just schedule a phone meeting here!

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Peter D Johnsen

Your Insurance Broker

Apple Insurance Solutions

Health | Medicare | Auto | Home | Life

Office: 818.620.8171

Email: peter@appleinsurancesolutions.com

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Today, we are discussing…

Submitting "Proof of Income" for Health Insurance

This is a very good and important question.

Your estimated annual (and monthly) income direct effect the advanced premium tax credits you receive.

If your income is higher, you will get fewer tax credits and your premium is higher.

If your reported income is lower, then you get more tax credits and your premium goes down.

While the state and federal health exchanges will give you 90 days to upload the documents to prove your income… you want to do this as soon as you can, so your tax credits continue.

Here are 3 steps to make sure this process is completed correctly:

#1 Make sure your reported “estimated” income is accurate.

If you just enrolled, it’s likely accurate, as we talked about that. However, if you’ve been enrolled and renewing for a while, you definitely need to check it again.

You can look at your past tax return or paychecks; whatever helps you find the best estimate.

#2 Make sure your reported income and your proof of income documents match.

If they don’t match (relatively closely) it can cause problems down the road.

For example, if you reported that your household taxable income is $4000/month, then you need to use paystubs that show near that amount.

#3 Use an Income Attestation Form to make it easy.

Often times matching the exact amounts with your paystubs can be tricky. So, I always recommend that you just use the proof of income attestation form, write in the full annual amount and then sign it.

This is the easiest way to do it and I can help you with the process!