Medicare Annual Open Enrollment

October 15 – December 7, 2024

Get a Free Consultation

Medicare Annual Open Enrollment

October 15 – December 7, 2024

Get a Free Consultation

Find the Medicare plan that is right for you

As part of our commitment to support Redstone members and the community we serve, Redstone Insurance Services proudly offers Medicare coverage. Our insurance team understands that navigating Medicare can be overwhelming. Let us help take the guess work out of Medicare.

What is Medicare and who is eligible?

Medicare is the federal program that provides health coverage for individuals 65 years or older, or for people with severe disabilities. You are first eligible to sign up for Medicare 3 months before you turn 65.

Original Medicare covers most, but not all of the cost for approved health care services and supplies. After you have met your deductible, you will pay your share of the costs for services and supplies as you need them. There are no limits on what you will pay out-of-pocket in a year, unless you have other coverage (like Medigap, Medicaid, or employee/union coverage).

Services must be medically necessary in order to be covered by Medicare. Many preventive services, such as vaccinations/shots and screenings are also covered. If your doctor or health care provider accepts Medicare-Approved Amount (the approved fee Medicare will pay for a procedure), your share of costs may be less. If service provided is not covered by Medicare, you will pay the full cost.

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Let’s break down the Parts of Medicare.

Original Medicare

Original Medicare includes Part A and Part B.
You can join a separate Medicare drug plan to get Medicare drug coverage (Part D).
You can use any doctor or hospital that takes Medicare, anywhere in the U.S.

Part A (Hospital Insurance)

Helps cover inpatient care in hospitals, skilled nursing facility care, hospice care, and home health care.

Part B (Medical Insurance)

Services from doctors and other health care providers
Outpatient care
Home health care
Durable medical equipment (like wheelchairs, walkers, hospital beds, and other equipment)
Many preventive services (like screenings, shots or vaccines, and yearly “Wellness” visits)

Part C (also known as Medicare Advantage)

Medicare Advantage is a Medicare-approved plan from a private company that offers an alternative to Original Medicare for your health and drug coverage. These “bundled” plans include Part A, Part B, and usually Part D.
In most cases, you’ll need to use doctors who are in the plan’s network.
Plans may have lower out-of-pocket costs than Original Medicare.
Plans may offer some extra benefits that Original Medicare doesn’t cover — like vision, hearing, and dental services.

Part D (Drug coverage)

Helps cover the cost of prescription drugs (including many recommended shots or vaccines). You join a Medicare drug plan in addition to Original Medicare, or you get it by joining a Medicare Advantage Plan with drug coverage. Plans that offer Medicare drug coverage are run by private insurance companies that follow rules set by Medicare.

Medicare Supplement Insurance (Medigap)

Medigap is extra insurance you can buy from a private company that helps you pay your share of costs in Original Medicare. Medigap policies are standardized, and in most states named by letters, such as Plan G or Plan K. You do need both Part A and Part B to buy Medigap.

When can I sign up for Medicare?


Initial Enrollment Period
Starts 3 months before you get Medicare and ends 3 months after you get Medicare. (New to Medicare) (Part A)


Initial Enrollment Period — New to Part B
The 3 months before your Part B starts. (Only if you get Part B after your Part A coverage starts)


Annual Open Enrollment Period
October 15 - December 7


Medicare Advantage Open Enrollment Period
January 1-March 31. The first 3 months after you get Medicare and you’re in a Medicare Advantage Plan. (Only if you’re already in a Medicare Advantage Plan)


Special Enrollment Period
Varies. Only for certain situations that happen in your life, like you move to a new address, you lose or have a change to your current coverage, you have Medicaid or get Extra Help paying drugs costs, and more.

What are my coverage options?

Choice 1: Do you want Original Medicare or Medicare Advantage?

Original Medicare

You pay for services as you get them. When you get a covered service, Medicare pays part of the cost and your pay your share.
You can be seen by any doctor or hospital that take Medicare, anywhere in the US.

Includes:

Part A – Hospital insurance
Part B – Medical insurance

You can add:

Part D – Medicare drug coverage
Supplemental coverage to help you pay your share of costs
Medicare Supplement Insurance (Medigap) coverage from a former employer or union, or Medicaid

Part C - Medicare Advantage

You join a Medicare-approved plan from a private company that offers an alternative to Original Medicare for your health and drug coverage.
In most cases, you’ll need to use doctors who are in the plan’s network.

Includes:

Part A – Hospital insurance
Part B – Medical insurance

You can add:

Part D – Medicare drug coverage
Some extra benefits that Original Medicare doesn’t cover – like hearing, and dental services.
You must have both Part A and Part B to join a Medicare Advantage Plan.

Choice 2: If you pick Original Medicare, do you want to add more coverage?

Part D - Medicare Drug Coverage

If you chose Original Medicare and want to add drug coverage, you can join a separate Medicare drug plan. Medicare drug coverage is optional, but it’s available to everyone with Medicare.

Most Medicare Advantage Plans include Part D coverage. In most types of Medicare Advantage Plans, you can’t join a separate Medicare drug plan.

What types of plans let me join a separate Medicare drug plan?

Plans cover a variety of brand-name and generic prescription drugs. Each plan has a list of covered drugs, called a “formulary,” that can vary in cost and specific drugs covered.

Most plans have a monthly premium that you pay in addition to your Part B premium. You’ll also pay other costs when you get prescriptions.
Plans divide the covered drugs on their formulary into groups called "tiers" based on cost. A drug in a lower tier will cost less than a drug in a higher tier.

Other things to keep in mind

Avoid the penalty

You may pay a Part D late enrollment penalty if you don’t join a Medicare drug plan when you first get Medicare and go 63 days or more without credible drug coverage.
The penalty increases the longer you wait to join a plan. In most cases, you pay this monthly penalty for as long as you have Part D coverage, even if you switch plans.

How much is the Part D penalty?

The penalty is 1% of the “national base beneficiary premium” times the number of full months you go without Part D or credible drug coverage.

How do I find plans in my area?

Plans are based on location, and you can ask your local agent to look up your zip code to verify what plans are available in your county.

Are you interested in receiving a complimentary Medicare consultation?

Redstone Insurance Services
medicare@redfcu.org | 256-617-6005

Redstone Services Group^SM, LLC d/b/a Redstone Insurance Services, is a wholly owned subsidiary of Redstone Federal Credit Union® (RFCU®) but are separate entities. Redstone Services Group, LLC is a licensed insurance agency that sells insurance policies issued by third party insurance companies. The insurance products are not products or obligations of RFCU, are not NCUA or federally insured and are not endorsed, warranted, recommended, or guaranteed by RFCU or any government agency. The insurance products may be offered by a dual employee who also sells insurance products on behalf of a third-party insurance company. RFCU and its affiliates are committed to fair, equitable and nondiscriminatory practices.