The Medicare Advantage Open Enrollment Period (OEP) is from January 1 to March 31. Not everyone can make use of it, as it requires already having Medicare Advantage. It’s not mandatory to take action during this time, but if you want to get coverage that is a better fit for your needs, this is a must.
Who Is The Medicare Advantage Open Enrollment Period For?
This enrollment period is exclusive to those who already have Medicare Advantage. This is also reflected in the types of changes allowed during this time.
During the Medicare Advantage OEP, you can:
- Switch from one Medicare Advantage plan to another
- Switch to another Medicare Advantage plan that has drug coverage (if your current plan does not have drug coverage)
- Drop Medicare Advantage to opt for Original Medicare and Part D coverage instead
This provides an opportunity to make changes to your Medicare Advantage coverage if you did not do so during the Medicare Annual Enrollment Period (AEP), which runs from October 15 to December 7.
Why Use The Medicare Advantage Open Enrollment Period?
This depends on your satisfaction with the coverage you’ve been getting. If you are content with your current Medicare Advantage coverage, you do not have to do anything during this time.
However, you may decide to make changes due to what you find in the Medicare Annual Notice of Change (ANOC) and Evidence of Coverage (EOC) documents that arrive prior to the AEP. The ANOC provides details as to how your Medicare Advantage coverage will change, as well as the price changes that will take effect the following year.
If you are not satisfied with the coverage your plan provided throughout the year, or there are changes that you are uncomfortable with, it is advised that you consider making use of the Medicare Advantage OEP.
You may also use this as a time to browse different policies. Medicare Advantage is full of variety, and you may come across a plan that suits your needs better than the one you currently have.
Get Coverage Today!
At Senior Health Solutions, we give you a way to take advantage of each enrollment period, so that you can make the changes necessary to have the coverage you want and deserve. We aim to get you the best policy Medicare has to offer, and for the lowest cost. Call us today at (636) 244-4415.