Things You Need to Know For Enrolling in Aetna Medicare Part D Plan?

 

Who Can Enroll in Aetna Medicare Part D?

People with Medicare Part A and B or Medicare Advantage Plan (Part C) are eligible for Medicare Part D, which is a prescription drug coverage policy. In addition, you should be living in an area enlisted in these policies.

Although it’s an involuntary plan, you’re supposed to enroll as soon as you become qualified for it. Applying late for the plan subjects you to mandatory later enrollment penalty for lifetime. You can get this coverage from any private broker or an insurance company like Aetna using any of the two different methods:

·         Medicare Prescription Drug Plan: They are stand-alone policies that you can buy with Medicare Basic Health Plans (Part A and/or B).  You can also pair the PDP up with other Medicare Plans such as Medicare Cost Plans, Medicare Medical Saving Accounts and Medicare Fee-for-Service plans.

·         Medicare Advantage Prescription Plan: These are supplementary plans that you can use with prescription drug coverage, only if you have Medicare Part A and B.

However, you can enroll in both of these programs at the same time. If you’ve Advantage Plan and apply for PDP, then you’ll automatically be dis-enrolled from the advantage plan and reverted to the Original Medicare.

You can delay enrolling the Aetna Medicare Part D plan and avoid the penalty fee, if you’ve a similar creditable PD coverage from an employer. These adjunct, creditable plans offer similar benefits and are as good as the standard Medicare policies for prescription drugs.

But if you don’t have any creditable plans for consecutively 60 plus days and you’re late in applying for PDPs, then you’ll face the penalty fee. The fee would last for lifetime and you’ll pay for it as long as you’re the Part D plan.

How Can You Enroll In Aetna Part D?

You need to contact an insurance agency to enroll in the Part D plan. Since the plan is voluntary, the enrollment isn’t automatic, unlike the Original Medicare Plan. All you need is to fill in the application form, call the plan or apply online. You can also reach out to private brokers or insurers who can guide you through the enrollment process.

When enrolling for prescription drug plans, you would need to submit Medicare Number and Date of Activation of Part A and/or B. you can find all the relevant information on your Medicare Insurance Card.

When is the Best Time to Enroll for Part D Plans?

There is a specific time to apply for Aetna Part D plans. If you wish to discontinue, change or switch, the keep the below-discussed periods in mind.

Initial Enrollment Period:

It is the time when you first become eligible for the plan. It is same as the date of your Medicare Part A and/ or B plan which begins three months prior to your 65^th birthday and last till 3-months past it, which means you’ve seven months to apply for any of these plans.

Annual Election Period:

During this period, you are eligible to make changes to your prescription drug policies; either the stand-alone or Aetna Medicare supplement plans. It occurs every year from October 15- December 7, allowing you to make amendments related to:

·         Enrollment in the Medicare Prescription Plan

·         Switching from one advantage plan to the other

·         Dis-enrolling from Advantage plan

·         Switching from supplement plans to stand alone

If you would like to know more about the details related to enrollment dates, then you speak to one of the experienced agents at Health Exchange Agency. They will also guide you through various other options and help you select the one that best suits your requirements.