Open Enrollment is from October 15th to December 7th. During this period, patients (who are eligible) can sign up for a Medicare Part D plan. And if they're already enrolled, they can switch to a new plan. But for many patients, open enrollment is confusing and frustrating. So they may come to you for help.
Here are the top 5 questions patients typically have regarding enrollment:
1. How long does the enrollment period last?
October 15th to December 7th.
2. Is there a problem if I switch my patient’s Part D plan during the open enrollment period?
No. In fact, you can actually switch plans for your patients as many times as you need to as long as it’s done within the open enrollment period.
3. Are there any exceptions to the enrollment period?
Yes, there are some exceptions to this period. A patient can switch their Medicare Part D plan in certain situations such as qualifying for extra help, moving, etc. Patients who have Medicare Advantage can switch to another advantage plan or switch back to original Medicare coverage during the enrollment period. In addition, dual eligible patients can switch at any time.
4. What is a dual eligible patient? And, what does this mean for enrollment periods?
A dual eligible patient is a person who qualifies for both Medicare and Medicaid. Unlike those who are eligible for the standard Medicare Part D plan, dual eligible patients can switch their plans at any time of the year.
5. When do patients begin to accrue a penalty if they do not enroll in a plan?
Patients begin to accrue a penalty after 63 days after their 7 month enrollment period.The 7 months are broken down into 3 months before their 65th birthday, month of their birthday, and 3 months after their 65th birthday.
If you have additional questions about enrolling your patients in a Medicare Part D plan, you may consider the iMedicare solution. iMedicare has developed a platform to help pharmacists guide their patients toward the most affordable options available. The iMedicare platform integrates with your pharmacy software system to enable the comparison of Medicare plans with the click of a button.
“In a world of DIR fees and dozens of Star Rating measures, iMedicare works to simplify Medicare for pharmacies and their patients. We are proud that thousands of community pharmacies across the country rely on iMedicare to deliver the right data intelligence at the right time,” stated Flaviu Simihaian, Co-Founder and CEO, iMedicare.
iMedicare is a software platform that reduces the cost of Medicare for patients, while also increasing revenues for over 4000 of pharmacies. In 2015 alone, iMedicare helped patients save $287.5 million on their prescriptions. For more information, contact iMedicare at 704.769.0540 or visit http://www.iMedicare.com.