Final Reminder: Medicare Advantage Open Enrollment Ends on March 31
For those of you on Medicare Advantage, remember that Open Enrollment is happening now through March 31. This is your last chance to make changes to your plan; otherwise it will continue until January 1 of next year.
For a variety of reasons, you could start the year feeling confident about your Medicare Advantage plan, but then change your mind. A plan might not be a good fit any longer, due to a variety of circumstances such as a favorite physician dropping out of the network, or your own preferences changing. You might also decide that your plan does not fit well with your budget needs.
During Medicare Advantage Open Enrollment, from January 1 to March 31 each year, you have the ability to:
- Review your Advantage plan, including your covered providers and drug formulary, to determine if it still fits you
- Shop for other Medicare Advantage plans in your area, to see if another one might better suit your needs
- Switch from one Advantage plan to another, if you decide a different plan might work better for you
- Drop Medicare Advantage and go back to Original Medicare
- Add a Part D (prescription drug) plan if you do decide to go back to Original Medicare
If you make changes to your plan at this time, those changes will take place beginning on the first of next month.
If you don’t make changes to your Medicare Advantage plan at this time, your next chance will be during the Annual Election Period this fall. You might also qualify for a Special Enrollment Period at any time during the year, if you meet certain circumstances (such as moving to a new network area).
The main thing to remember right now is that the deadline for Open Enrollment is March 31. Give us a call right away, so that we can help you compare Advantage plans and make a decision about your coverage.