For 2014 It Might Be "Medicare Time" Now, Not October

For a around 60% of us seniors, annual "Medicare time" occurs between October 15 and December 7 because that's the time to check and possibly change the Part D Medicare standalone drug plan we buy individually and possibly make changes for the next year. And it's also the time of year to check our public Part C Medicare health plan if we have one for the same reason.

The fall is also a good, convenient time to check our private Medigap supplement insurance if that is our preferred Medicare supplement option instead of a public Part C Medicare health plan. (But in Massachusetts -- unlike in many states -- we can sign up for and change Medigap policies at any time with guaranteed issue--but see NOTE.)

But around 40% of senior citizens have supplemental Medicare insurance through a former employer. Such seniors face renewal at random times through the year... maybe now... maybe in October...  maybe it already happened for this year. "Medicare time" for those on retiree insurance is whenever the former employer says it is. Do not ignore any letters you get from a former employer just because everyone you know says "Medicare open enrollment" is in the fall. For you, "open enrollment" might be now. And even if you get a letter from a former employer about your retiree insurance in October, you might have to act in November rather than having until December.

Finally general enrollment for Original Medicare Parts A and/or B -- which is often necessary for retiree insurance and always needed for Part C and D Medicare health plans -- occurs in the winter of each year. As described in this earlier post, 2014 rule making for Parts A and B is just getting underway. All the final rules will be released by November in time for the general January-March Original Medicare enrollment period.

(NOTE: "Any time" does not mean you can choose a Medigap policy in the ambulance in Massachusetts and get coverage when you arrive at the hospital. Under Massachusetts rules, a new or first-time Medigap option takes effect the first of the month in the month after you sign up. )