Understanding the Medicare Special Election Period: Everything You Need to Know
02 Oct 2023 ∙ 2 min read
Quick Overview
Unsure about the Medicare Special Election Period? Dive deep with Truth Medicare to understand when and how you can make changes to your Medicare advantage plan, Supplemental Insurance, or Part D Medicare. We partner with industry giants to provide insights that matter to you.
What is the Medicare Special Election Period?
The Medicare Special Election Period (SEP) is a specific window outside the regular enrollment periods. During this time, eligible individuals can make changes to their Medicare Advantage plans (Part C Medicare), Original Medicare, or Part D Medicare. Events like moving out of your plan’s service area, losing current coverage, or changes in your current plan's contract with CMS can trigger an SEP.
Top Companies Offering Medicare during SEP
Several insurance companies have partnered with CMS to provide Medicare services during the SEP. Notable names include Aetna, United Healthcare, Cigna, Humana, and Blue Cross Blue Shield, among others. Each company has its unique offerings, such as HMO, PPO, PFFS, and POS plans, ensuring a wide range of options for those seeking coverage during the Special Election Period.
Why Seek Help During the Special Election Period?
Medicare, with its myriad of plans and options, can be complex. Especially during the SEP, when swift decisions might be necessary, guidance becomes invaluable. Truth Medicare's partnerships with private insurance companies make us an ideal companion in this journey. We'll help decode the differences between an HMO and a PPO, or Part A Medicare and Part C Medicare, ensuring you make informed choices.
Types of Products Available During SEP
During the Special Election Period, beneficiaries can enroll in or switch between different types of Medicare plans. This includes Medicare Advantage Plans (like HMO, PPO, PFFS, and POS), Medicare Supplement Insurance (Medigap), and standalone Part D plans. Each plan type caters to a unique set of healthcare needs, offering varied levels of coverage, flexibility, and provider networks.
Medicare Eligibility and the Special Election Period
While the SEP provides an opportunity to change plans, not everyone qualifies for it. Medicare Eligibility during this period is based on specific life events or changes in your circumstances. Partner with Truth Medicare to understand if you qualify and how best to navigate the offerings during the Special Election Period.