If you’re a Medicare Advantage policyholder and are looking to explore other options, the Medicare Advantage Open Enrollment is a perfect opportunity to do so. Here, you will see what you can do during this time, and how you can capitalize on the possibilities this enrollment period offers.

When Is The Medicare Advantage Open Enrollment Period?

The Medicare Advantage Open Enrollment Period lasts from January 1 to March 31. It takes place at the same time as the General Enrollment Period.

Who Can Use The Medicare Advantage Open Enrollment Period?

Only certain individuals are able to make use of this enrollment period. It’s exclusively for existing Medicare Advantage policyholders.

Those who just have Original Medicare, or aren’t enrolled in any form of Medicare, cannot take any actions related to this enrollment period at this time.

What Can I Do During The Medicare Advantage Open Enrollment Period?

The Medicare Advantage Open Enrollment Period allows you to:

• Switch from one Medicare Advantage plan to another
• Drop Medicare Advantage and go back to Original Medicare (you may also add a Part D prescription drug plan)

What Am I Not Able To Do During The Medicare Advantage Open Enrollment Period?

You will not be able to switch from Original Medicare to Medicare Advantage during the Medicare Advantage Open Enrollment Period. If you wish to switch from your Original Medicare policy to Medicare Advantage, you will have to do so during the Annual Enrollment Period, which lasts from October 15 to December 7.

Joining a Medicare Supplement Plan (Medigap) is not possible when you have Medicare Advantage. You can drop your Medicare Advantage plan in favor of Original Medicare, and then apply for Medigap once you’ve switched to Original Medicare coverage, but you are not guaranteed to obtain Medigap. You may be rejected.

Why Use The Medicare Advantage Open Enrollment Period?

The primary indicator for whether you should make use of this enrollment period is your satisfaction with the plan you currently have. If your current Medicare Advantage plan doesn’t offer adequate coverage, you can find one that does.

It’s also encouraged that you review your Annual Notice of Change (ANOC) document, which provides details on the coverage and cost changes your plan will implement for the upcoming year. This arrives every September.

If your current plan undergoes changes you aren’t happy with, you will be able to explore other policies. There are numerous Medicare Advantage plans available to you, and this diversity works in your favor, as you can find one plan that covers what you need.

Prepare For The Medicare Advantage Open Enrollment Period Today

Eldridge Agency is here to offer you the Medicare plan that works best for you. If you’re in need of a change, we will help you make that change. Soon enough, you’ll have a low-cost policy you can call your own. Call us today at (775) 328-1197.