How Does Obamacare Affect My Medicare Plan?

How Does Obamacare Affect My Medicare Plan?

How Does Obamacare Affect My Medicare Plan?The Affordable Care Act has inherently changed the world of health care, as we know it. Despite popular belief, Obamacare will affect many Medicare holders as well. The last thing you want is to miss the fall open enrollment period for Medicare and find out that you do not have sufficient coverage once it is already too late. Gathered is all the must-know information for Medicare holders:

  • The fall open enrollment period began on October 15th and will continue until the 7th of December. This period will remain the same each following year. Those who enroll during this time will start receiving coverage on January 1st.
  • Unless you qualify for special circumstances, this will be the only time to choose a new Medicare plan or alter your existing one.
  • Despite popular concern, Medicare Part D premiums are not expected to change in 2015. Likewise, high premiums paid by upper-income beneficiaries will remain stagnant for 2015. The Part B annual deductible for the majority of beneficiaries will remain at $147 during 2015.
  • The only number that is expected to change during 2015 through Obamacare rules and regulations are the costs of sharing hospitals and skilled nursing stays.
  • For those who are unhappy with their Medicare Advantage plan, you are welcome to disenroll and change your plan during the Medicare Advantage Disenrollment Period, which occurs each year from January 1st until February 14th.

Contact Employee Benefit Plans, Inc. in Greenwood Village for all of your Colorado health insurance needs. We understand how confusing Affordable Care Act rules and regulations can be, which is why we will go above and beyond to make sure your policy complies and will help you adjust accordingly.