Want to switch to a different Medicare Advantage plan? Starting in 2019, you’ll have a new opportunity to do so. You’ll have more time to enroll (or disenroll). We’ve captured the details of the Medicare Advantage open enrollment changes below.
Changes to the Medicare Advantage Open Enrollment Period in 2019
The annual Medicare Advantage Disenrollment Period (January 1 – February 14 every year) will be replaced with the Medicare Open Enrollment Period -OEP starting in 2019.
What’s new about the Medicare Advantage Open Enrollment Period?
Beginning in 2019, a new Medicare Advantage Open Enrollment Period will run from January 1 – March 31 every year. That means if you’re enrolled in a Medicare Advantage plan, you’ll have a one-time opportunity to:
- Switch to a different Medicare Advantage plan
- Drop your Medicare Advantage plan and return to Original Medicare, Part A and Part B
- Sign up for a stand-alone Medicare Part D Prescription Drug Plan (if you return to Original Medicare). Most Medicare Advantage plans include prescription drug coverage already. Usually you can’t enroll in a stand-alone Medicare Prescription Drug plan if you already have a Medicare Advantage plan, but there are some situations where you can. Call us if you have questions.
Medicare Advantage Open Enrollment: why would I want to switch to a different Medicare Advantage plan?
Medicare Advantage plans have certain benefits you can always count on. That is, they deliver all your Medicare Part A and Part B benefits. Many of them also include coverage beyond Original Medicare (Part A and Part B). For example, most plans include prescription drug coverage, and some include vision, dental services, fitness and/or other benefits. But these benefits may change from year to year. Also, some doctors, hospitals and other medical providers may go out of network for one plan and in network for another, or prescription formularies may change.
Benefits, premiums and/or co-payments/co-insurance may change on January 1 of each year so if you find yourself in a plan that you’re not happy with it may not be too late. You’ll have until March 31 to compare and switch. Contact us to learn your options.Filed Under: Health Insurance