There’s Still Time to Change Your Medicare Benefits During Medicare’s Annual Enrollment Period

Medicare’s Annual Enrollment Period (AEP) is winding down. But it’s not too late to evaluate your current plan to make sure your 2016 Medicare plan best meets your needs.

The Medicare AEP lasts until December 7. This is the time for Medicare beneficiaries, including those 65 and older and those with certain disabilities, to make changes to their Medicare coverage. It’s also a great opportunity to take stock of your current health needs, how they may have changed over the last year, and decide if you need to make adjustments to get the most out of your plan.

“It may seem like a daunting task to research Medicare plans," said Nancy Cocozza, president of Aetna Medicare. “But taking the time to explore your options will ensure that you will end up with a plan tailored to your health care needs and budget. It pays to consider your health conditions, the providers you use and the medication you take, and do your best to find a plan that fits you.”

According to Avalere Health, a private health care consulting firm, in 2016 the average Medicare Advantage premium will actually decline by one percent and 81 percent of MA beneficiaries will have a $0 premium option. In addition, beneficiaries in most states will still have 25 or more prescription drug plans to choose from in 2016.

“If you have a prescription drug plan, you may find that switching to a different plan and using a different pharmacy may save you money,” said Cocozza. “We encourage Medicare beneficiaries to carefully review their medication needs and compare their options, because they may pay less in premiums or out-of-pocket costs if they elect certain plans.”

Aetna’s advice for Medicare’s AEP

The Medicare AEP is the time to think about the year ahead and get the most out of your health benefits. Take a few minutes to ask yourself these three questions and follow these tips:

Three questions to ask yourself

1. What changes have there been to your health conditions that you will need to manage or address in the year ahead? What does your current plan cover?
2. What regular medications do you need? Will the costs change if you switch plans? Do you need more coverage for any new medications?
3. Do you have relationships with current providers that you would like to maintain? Will you be able to do this on a new health plan?

Three tips for getting the most out of Medicare’s AEP

1. List all the benefits your current plan offers and take stock of which ones you used this year and which ones you didn’t. You may be able to adjust your benefits based on how your needs have changed. It’s important to make sure you still have coverage for prescription medications.
2. Check on the preventive services offered by your current health care plan and the other plans you are considering. Do they provide additional perks such as discounts on exercise equipment or classes? If so, take advantage of these services. This can save you money by keeping you healthy and preventing illness. And it helps you recover quicker if sickness or injury occurs.
3. Know your options. We encourage you to be informed before you change or add any coverage. There are a number of resources to help you review your current benefits and consider if other options might work better for you.

• Visit http://www.medicare.gov/find-a-plan to compare your current coverage with all of the options that are available in your area and enroll in a new plan if you decide to make a change.
• Call 1-800-MEDICARE (1-800-633-4227) 24-hours a day, seven days a week, to find out more about your coverage options. TTY users should call 1-877-486-2048.
• Review the Medicare & You 2016 handbook. It was mailed to Medicare beneficiaries in September. You can also view it at http://www.medicare.gov.
• Get one-on-one help from a local State Health Insurance Information Program (SHIP). SHIP information is available by state at http://www.seniorsresourceguide.com/directories/National/SHIP/.

Aetna, a market leader in Medicare Advantage plans, designed its 2016 Medicare health and prescription drug plans to provide exceptional value to Medicare beneficiaries by offering a choice of affordable plans to help them achieve more healthy days while maximizing their savings.

Aetna Medicare Advantage or Medicare Advantage Prescription Drug Plans are offered in 32 states and Washington D.C. Aetna Prescription Drug Plans are available in all 50 states and Washington D.C.

Medicare beneficiaries can enroll in Aetna 2016 Medicare Advantage plans during the annual enrollment period, which began October 15, 2015 and ends December 7, 2015. These enrollments will be effective on January 1, 2016.

Complete plan details about Aetna’s 2016 Medicare offerings are available at www.aetnamedicare.com or by calling toll-free 1-888-247-1028 (TTY: 711). Hours are from 8 a.m. to 8 p.m., local time, seven days a week. Complete plan details about Coventry’s 2016 Medicare offerings are available at http://coventry-medicare.coventryhealthcare.com/ or by calling toll-free 1-877-988-3589 (TTY: 711). Hours are from 8 a.m. to 8 p.m., local time, seven days a week.

About Aetna

Aetna is one of the nation's leading diversified health care benefits companies, serving an estimated 46.5 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, and medical management capabilities, Medicaid health care management services, workers' compensation administrative services and health information technology products and services. Aetna's customers include employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups and expatriates. For more information, see www.aetna.com and learn about how Aetna is helping to build a healthier world. @AetnaNews

Aetna Medicare is a PDP, HMO, PPO plan with a Medicare contract. Our SNPs also have contracts with State Medicaid programs. Enrollment in our plans depends on contract renewal. See Evidence of Coverage for a complete description of benefits, exclusions, limitations and conditions of coverage. Plan features and availability may vary by location.

NR_0009_6863 11/2015

View source version on businesswire.com: http://www.businesswire.com/news/home/20151130006130/en/