What is the open enrollment period for medicare advantage plans

Summary:

Have you been thinking about changing to a different Medicare Advantage plan? Maybe you’re looking for a Medicare Advantage plan that may cost less, cover your prescriptions, or find coverage that will let you keep your same provider or doctor. Additional benefits like dental, vision, or hearing may be something that you are looking into for your Medicare Advantage plan since Original Medicare may not offer those benefits. If you are looking to make a change to your health benefits, you may know that there are limited time periods when you can make this type of change.

Medicare Advantage Plans: When can you sign up?

Traditionally, there have been several periods when you can typically sign up for a Medicare Advantage plan. What is the difference between the Medicare Advantage Open Enrollment Period and other enrollment periods throughout the year?

• When you’re first eligible for Medicare, you get an Initial Enrollment Period. That’s when you can enroll in Medicare Part A and Part B, or when you’re automatically enrolled. During this period, you can decide to get your Part A and Part B benefits from a Medicare Advantage plan.
• Every year, there’s a Fall Open Enrollment Period, when you can sign up for a Medicare Advantage plan, switch from one Medicare Advantage plan to another, or drop your plan and return to Original Medicare (Part A and Part B). Also called the Annual Election Period (AEP), it runs from October 15 – December 7. Learn about the period and the other changes you can make at that time.
• In certain cases, you might qualify for a Special Enrollment Period to sign up for a Medicare Advantage plan. Generally this period is for those who lose coverage – for example, by moving out of the plan’s service area.

Medicare Advantage Open Enrollment Period

What is the Medicare Advantage Open Enrollment Period?

A Medicare Advantage Open Enrollment Period (OEP) was added in 2019. It goes from January 1 through March 31 every year. It replaces the Medicare Advantage Disenrollment Period (January 1 – February 14).

The Medicare Advantage OEP is somewhat more limited than the Fall Open Enrollment Period. During the Medicare Advantage OEP, you generally have a one-time opportunity to do any of the following. This may not be a complete list.

• Change from one Medicare Advantage plan to a different Medicare Advantage plan
• Drop your Medicare Advantage plan and return to Original Medicare, Part A and Part B

Can you switch to a Medicare Advantage plan at any time?

No, however you are able to enroll, switch to a Medicare Advantage plan, or change back to Original Medicare coverage during the Medicare Advantage Open Enrollment period. Only in certain cases can you enroll in an alternate period, such as the Special Enrollment Period.

What is the difference between the Open Enrollment Period for Medicare and Medicare Advantage Open Enrollment Period?

Every year, you are able to make the changes you need to your Medicare Advantage or Medicare Drug coverage for the following year. This is a breakdown of the two separate enrollment periods where you can do this each year.

Open Enrollment Period for Medicare Advantage and Medicare Drug Coverage:

This period runs October 15 to December 7, with your coverage starting on January 1 of the next year.

What can you do?

• Change from Original Medicare to a Medicare Advantage Plan.
• Change from a Medicare Advantage Plan back to Original Medicare.
• Switch from one Medicare Advantage Plan to another Medicare Advantage plan.
• Switch from a Medicare Advantage Plan that doesn’t offer prescription drug coverage to a Medicare Advantage Plan that offers prescription drug coverage, or vice versa.
• Join a Medicare drug plan.
• Switch from a Medicare drug plan to a different Medicare prescription drug plan.
• Drop your Medicare prescription drug coverage entirely.

Medicare Advantage Open Enrollment Period

This period runs January 1 to March 31 with your coverage starting the first day of the month after you ask to join the new plan. Additionally, if you are enrolled in a Medicare Advantage Plan during your Initial Enrollment Period you can change to another Medicare Advantage Plan or go back to Original Medicare coverage within the first 3 months of having Medicare.

What can you do?

• If you are in a Medicare Advantage Plan regardless of if you have prescription drug coverage or not, you can switch to a different Medicare Advantage Plan if you are looking for one with or without prescription drug coverage.
• You can drop your Medicare Advantage Plan and return to Original Medicare coverage, as well as join a separate Medicare prescription drug plan.

What can’t I do?

• You are unable to switch from Original Medicare coverage to a Medicare Advantage Plan.
• Join a Medicare prescription drug plan if you are enrolled in Original Medicare.
• Switch from one Medicare prescription drug plan to a different one if you are enrolled in Original Medicare coverage.

Medicare Advantage plans: why sign up for one?

The type of Medicare coverage you want is entirely up to you. Here are a few facts about Medicare Advantage plans to help you decide.

• Most Medicare Advantage plans offer prescription drug coverage.
• Many Medicare Advantage plans offer extra benefits, such as fitness programs or gym memberships.
• Some Medicare Advantage plans might save you money on your health-care expenses. Some plans have premiums as low as $0 per month.
• Every Medicare Advantage plan has an annual out-of-pocket maximum spending limit. That means that after you spend a certain amount on approved medical costs during one calendar year, you don’t have to pay for covered medical services for the rest of that year. This limit can vary among plans, and from year to year.

With any type of Medicare Advantage plan , you still have to pay your monthly Medicare Part B premium – along with any premium the Medicare Advantage plan may charge.

What is the Medicare Advantage Open Enrollment?

What is the Medicare open enrollment period for 2022?

What is the effective date for Medicare Advantage Open Enrollment?

Can I switch to Medicare Advantage at any time?