We often get questions relating to the enrollment of Medicare eligible veterans outside of the Annual Election Period. In short, veterans are treated just as any other Medicare eligible person. There are a few things to note, however, when working with a veteran who is Medicare eligible. Here’s a short list of things to consider when helping veterans make an informed decision about Medicare Advantage enrollment:
Many of you may know that this year will be a milestone birthday for me. I turn 65 in May! In the past I never associated Medicare benefits with my own personal circumstances, but now it’s become something I think about frequently. I’d like to share some of the experiences I’ve had recently, and hope you find it insightful as you grow your business and interact with folks like me for years to come.
I had an agent tell me recently that “United was more generous than Humana because they offered unlimited renewals.” Currently, Humana offers a six-year tail on MAPD and PDP enrollments, which begins with either the “initial” or “replacement sale,” as CMS defines it.
There are about 1.5 million Medicare Beneficiaries taking advantage of the Low Income Subsidy benefit for MAPD and PDP products (not including Duals), with an estimated two million additional qualifiers who have yet to apply.
A LIS qualification also triggers a SEP, and can be validated by member attestation, redetermination letter, or SSA award letter. The SEP is continuous, as long as the beneficiary is eligible for the Part D subsidy.
For those recently losing their status, the SEPs are as follows:
- Loss of subsidy at the end of a calendar year yields an election period of January 1 through March 31.
- January 1 may be used as a proposed effective date in this case if the enrollment is done prior to the end of the year.
- Loss of subsidy occurring at any other time runs similarly to the loss of dual status, beginning in the month in which the beneficiary is notified of the loss, and ending two months following the month of notification.