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  • Writer's pictureGeorge Kolitsas

Should You Use the Medicare Advantage Open Enrollment Period?

There are many Medicare enrollment periods throughout the year. The Medicare Advantage Open Enrollment Period is when Medicare Advantage plan members can make changes to their plans. It occurs every year between January 1 and March 31. The changes you make during this time will start on the first day of the month after your new plan receives your request for the new coverage.

If you’re wondering if you should use the Medicare Advantage Open Enrollment Period, here’s everything you need to know.

What Is Medicare Advantage Open Enrollment?

The changes you are able to make during Medicare Advantage Open Enrollment are similar to those made during the Medicare Annual Enrollment Period. It gives you another opportunity to get all of the coverage you’ll need for the year. Though, the main difference between these two enrollment periods is that only people who are currently enrolled in an Advantage plan can make changes during Medicare Advantage Open Enrollment. Medicare Annual Enrollment allows anyone who has Medicare to make changes.

To be more specific, the Medicare Advantage Open Enrollment Period will allow you to:

  1. Go back to Original Medicare if you feel your Medicare Advantage plan no longer meets your needs

  2. If you go back to Original Medicare, you may also join a Part D prescription drug plan

  3. Or, you can switch to another Medicare Advantage plan that may or may not include prescription drug coverage

Who Should Use Medicare Advantage Open Enrollment?

Medicare Advantage Open Enrollment should be used by anyone who needs to change their Medicare Advantage plan. Before the enrollment period begins, think about how you’ve been able to use your current plan. If you have noticed that some changes could be made, now is the time to plan those changes. You can work with an insurance agent to make sure that you understand what changes you are making and how they will affect your coverage overall.

Exploring Other Plan Options

Whether you should explore new plan options during the Medicare Advantage Open Enrollment Period depends on a few factors. You should always ask yourself how well your plan performs in the following areas:

  1. Are doctors and providers that you prefer in the plan’s network?

  2. Are all of your prescription drugs featured in the plan’s formulary?

  3. Are you comfortable with costs, such as premiums, deductibles, and copays?

  4. Do you have additional coverage for things you need, such as dental and vision care?

  5. Are you happy with the plan’s additional benefits, such as fitness programs?

If you cannot answer all of these questions on your own, a Medicare agent can help you get started. You can get a head start on planning your benefits by calling Innovative Senior Benefits.

Need Medicare Help?

At Innovative Senior Benefits, we understand how important it is to receive the Medicare coverage you need. Speak to one of our licensed agents today to learn more about your Medicare options and how to take advantage of Medicare enrollment periods.

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