Get your questions answered by Craig Ritter about his 2018 State of the Senior Market address!
From Allen H:
How is OEP going to be different from current AEP
From Greg S:
Can you tell me more about the “holiday” relief in 2019 from Part D LEP? Thanks
From Paul D:
with your medicareful agent site, can I enroll people over the phone, or must they be in my presence?
A couple of differences:
- Medicare beneficiaries can’t switch from one PDP to another PDP
- The enrollment period allows for one switch (MA to MA; Original Medicare to MA or MA to Original Medicare and PDP)
- The coverage is effective the first day of the month following the election.
- Runs from Jan 1st through March 31st.
Does this answer it?
Maybe need to clarify! The “Tax Holiday” related to the Health Insurer Tax which was a part of the ACA legislation. That held that approximately 2% of a for-profit health insurer’s premium was due as a non-deductible tax. This impacted Medicare advantage plans (and to a lessor extent PDP plans). There was a tax extender bill that gave insurers a “holiday” from the tax for tax year 2019 which allowed insurers to either (1) pocket the tax money or (2) reinvest the tax money back into lower premiums or better benefits. The tax is significant and worth approximately $20/month for Medicare advantage (significantly less for PDP).