Medicare Advantage Plans can be confusing and with annual benefit changes, your current plan may not be what’s best for you. Maybe you’re in a plan by accident that doesn’t cover your doctor or the medications you need, or perhaps you didn’t realize you still had co-payments with your plan, or maybe your circumstances have changed and your current plan doesn’t work for you anymore. No matter why you might need a different plan, you have the chance to change it.
What is the timing of Medicare Advantage Open Enrollment?
The Medicare Advantage Open Enrollment Period (OEP) begins on January 1st and ends on March 31st is different from the Annual Enrollment Period (AEP) that you probably heard about at the end of last year. OEP is specifically for making one-time changes to your existing Medicare Advantage Plan (Part C) if you have a Medicare Advantage Plan.
How does Medicare Advantage OEP Work?
This special open enrollment period was put into place for beneficiaries who may have gotten confused with all the excess of information thrown at them and ended up in a plan that doesn’t fit all of their needs. Clearer paperwork and OEP was Medicare’s solution to this wide-spread problem.
This means that if you are unhappy with your Medicare Advantage Plan, now is the time to make changes. During OEP you can switch to a different Medicare Advantage Plan, with or without drug coverage, or you can go back to Original Medicare and if needed, join a Medicare Prescription Drug Plan. You cannot, however, change from one Part D plan to another during this time.
Before making any changes, however, you’ll need to review your coverage. Ask yourself questions like these to see if you have some issue with your plan:
- Does this plan cover all my doctors?
- Does this plan cover all my prescription drugs?
- Have my out-of-pocket costs increased?
- Have my needs changed from last year?
- Am I satisfied with the service I’ve received from my plan?
When switching to a new plan, you need to make sure all your needs are being met. Seeking out a plan with better benefits is in your best interest. And if you’re still not happy, you can always make changes again next AEP and OEP.
We understand, however, that navigating the different plans can be difficult. There are plenty to choose from and they all come with information that is too easy to overlook. The best way to ensure you get exactly what you need is to go over your plan options with a Medicare specialist. A Medicare agent can help you sort through all the information and get you enrolled in the plan that meets your individual needs. They will also be your go-to person in the future. They will review your Medicare plans yearly, support you through any life changes, and give you continued peace of mind knowing that someone is always on your side.
Finding the best Medicare plan for you shouldn’t be difficult, and our team at CORE Insurance is here to simplify the process. Set up an appointment with a licensed consultant to talk about your options. We will give you an easy approach to Medicare and make sure you are getting the healthcare coverage you need. Contact CORE Insurance today!