What Should You Know about the Medicare Advantage Open Enrollment Period

We all know about the Medicare Annual Enrollment Period, but did you know that Medicare has an Opps I messed up period that starts in January each year? Many Medicare beneficiaries make changes to their plans during the Annual Enrollment Period, and then when they start using it they discover that maybe the new plan isn't the best for their situation.

In some cases, the doctor that was showing in the network at the time of the change has decided they are not going to participate in the plan. Other times your prescriptions may have changed and you are not paying more than anticipated, or maybe you find out your new company has customer service policies you do not like.

No matter the reason the Medicare Advantage Open Enrollment can help you make that adjustment. This enrollment period starts on January 1st and ends on March 31st annually.

What Can You do in the Medicare Advantage Open Enrollment?

To make a change in the Medicare Advantage Open Enrollment Period you must meet one qualification. You must be currently enrolled in a Medicare Advantage plan. If you meet this one requirement there are a few options you have.

1. Change from one Medicare Advantage Plan to another.

2. Drop your Medicare Advantage plan and return to Original Medicare only.

3. Drop your Medicare Advantage plan and return to Original Medicare and a drug plan.

4. Drop Your Medicare Advantage plan to enroll in a Medigap and Part D drug plan.

Unlike the Medicare Annual Enrollment period where the plans start the following January when you make a change in the Medicare Advantage Open Enrollment Period the change will go into effect the 1st day of the next month.

This period is specifically designed to help Medicare beneficiaries course correct, if they made a change, or forgot to check the new plans during the annual enrollment period.

Need help finding a new plan in your area, reviewing your current plan to ensure it's still the best one for your needs. We are here to help, Fill out our online request form, Review plans online, or give us a call. We are here to help.