What is the Medicare Advantage Open Enrollment Period?

If you need further assistance in researching and comparing all of the Medicare Advantage Plans available to you, feel free to contact Nora Ortega, a licensed Medicare Insurance Agent for a complimentary review.

Medicare Advantage Plans & The Open Enrollment PEriod

The Medicare Advantage Open Enrollment Period (January 1st – March 31st) affects those enrolled in a Medicare Advantage plan by allowing them to make a change in their provider, medical group or plan (insurance carrier).

During this time, Medicare Advantage beneficiaries will be able to change their Medicare Advantage plan or elect Original Medicare and coverage under Part D.

From January 1st to March 31st it’s critical to assess your current coverage and make changes, if needed. When reviewing your coverage, a good rule of thumb is to make a change if:

You have higher out-of-pocket costs
Your preferred doctor is no longer in-network
You’ve noticed an increase in costs for prescription drugs, co-pays or premiums
Your plan does not include vision and eyeglass coverage
Your plan does not include hearing and hearing aid coverage
Your plan does not include dental and denture coverage

What are the Benefits of Medicare Advantage Plans?

Medical Advantage Plans include low to no: premiums, copays and deductibles. Most plans also include drug coverage (Part D) and all Part A and Part B benefits at zero monthly premiums (no additional cost).

You may also qualify for current monthly premiums deducted from your social security (SS) monthly benefit check to be added back. Qualifying beneficiaries’ Social Security checks could be increased by $144.00 each month.

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What Happens if I Miss the Medicare Advantage Open Enrollment Period?

The next opportunity to make any changes, won’t be until the Annual Election Period (October 15th – December 7th). It’s important to keep in mind that any changes or new selections made won’t take effect until January 1st of the next year.

What Kind of Changes Can I Make to My Coverage?

Switching from one Medicare Advantage plan to another. Only one plan change is allowed during the Medicare Advantage Open Enrollment Period.
Changing from one Medicare Advantage prescription drug plan to another.
Disenrolling from your current Medicare Advantage plan and go back to Original Medicare. You may qualify to enroll in a Stand-Alone Prescription drug plan and Medigap plan as well.

What Kind of Changes Are Not Allowed?

Enrolling in Part A and Part B
Changing Original Medicare Part D Drug Plan
Enrolling in a Medicare Advantage Part D Drug Plan if you’re on Original Medicare.
Those enrolled in Original Medicare cannot opt-into a Medicare Advantage plan.

Compare Your Coverage

Evaluate your current plan’s coverage by comparing it to other plans available in your area. Remember that all changes must be made before March 31st.

Coverage and costs will vary depending on the plan, but you can find the best one that meet your needs. Take you time to review them.