Medicare Advantage Enrollment Period is Great Opportunity for Active Choosers

New enrollment period part of additional consumer protections for Medicare Advantage beneficiaries

Have you heard about the new opportunity to switch your Medicare Advantage plan in 2019?  If your current plan is not satisfactory to you, read on to learn more about the new Medicare Advantage Open Enrollment Period and your options for enrolling in a different plan that would better meet your needs.

Previously, individuals enrolled in Medicare Advantage plans were able to drop their Medicare Advantage plan and return to Original Medicare during the Medicare Advantage Disenrollment Period (January 1 – February 14 annually).  These individuals could also sign up for a standalone Medicare Part D Prescription Drug plan.  This year, the Centers for Medicare and Medicaid Services (CMS), has replaced the Medicare Advantage Disenrollment Period with the new Medicare Advantage Open Enrollment Period.

The new Medicare Advantage Open Enrollment Period implements changes that were called for in the 21st Century Cures Act, a bipartisan law passed by Congress in 2017. This policy change allows those enrolled in Medicare Advantage plans more flexibility to make changes to their coverage.

During this new Medicare Advantage Open Enrollment Period, which runs from January 1 – March 31 every year, individuals enrolled in a Medicare Advantage plan will have a one-time opportunity to consider the following health coverage options:

  • Switch to a different Medicare Advantage Plan (with or without Part D Prescription Drug Coverage).
  • Drop a Medicare Advantage plan and return to Original Medicare.
  • Sign up for a Part D Prescription Drug Plan if electing to return to Original Medicare.

The reasons to consider switching your plan during the new Medicare Advantage Open Enrollment period vary from person to person.  While Medicare Advantage plans consistently deliver high quality Medicare Part A (hospital) and Medicare Part B (medical) benefits, provider networks and extra benefits such as vision, dental, and prescription drug coverage will be different depending on the plan you select.

Every fall, your plan will send out an Annual Notice of Change.  This document details any changes to your benefits or plan regulations that you should be aware of.  Additionally, if your Medicare Advantage plan includes prescription drug coverage, your plan may change its prescription drug formulary at any time.  You will receive notice of these changes from your plan as they occur.

As your health needs change, it is always important to make sure that your coverage provides for the care you need at a price you can afford.  If your current plan doesn’t meet your health care needs, or does not cover the medications you need, or doesn’t fit your budget, the new Medicare Advantage Open Enrollment Period is your opportunity to seek out an alternative. Better Medicare Alliance encourages you to review your options by using the Medicare Plan Finder, an on-line, interactive tool that helps locate plans available in your area and allows you to compare coverage.

You can also consult a broker, agent,  counselor through the SHIP program or include a family member or caregiver to help you have the information and guidance to make the decision for you.

If you choose to change your coverage during the Medicare Advantage Open Enrollment Period, your new coverage will begin on the first day of the month after your request for new coverage is received.