What you need to know about Medicare Open Enrollment.
Medicare Open Enrollment, also known as Annual Election Period, is annually between October 15th and December 7. During this period, you have different opportunities if you have the following;
- Medicare Part A and Part B and do not have an Advantage Plan you can apply. There will be guaranteed issue meaning, no underwriting.
- Medicare Supplement Plan and want to change to an Advantage Plan, you can, with no medical questions. However, you do need to cancel your Medicare Supplement Plan if you change to an Advantage Plan. Your Medicare Supplement Plan will not be automatically canceled.
- Medicare Plans in your area, this is the time to compare.
- Medicare Advantage Plan and would like to change. You can change as many times as you like. The last plan you change to before December 7th will be the Advantage Plan you will have on January 1, of the following year.
What to be aware of:
- You cannot have a Medicare Advantage Plan that incudes a Prescription Drug plan and a stand-alone Medicare Prescription Drug Plan. If your Advantage Plan does not have a prescription drug plan, you need to contact the company and find out if it will allow you to add a drug plan.
- You cannot have an Advantage Plan and a Supplement Plan at the same time.
- You cannot apply for or change an Advantage Plan unless you have a SEP (Special Enrollment Period) other than during Open Enrollment.
Conclusion:
It is best to find a knowledgeable Medicare Agent. One that can help you either review or compare the Advantage Plan. Or the agent can help you compare what Plans are available in your area if you would like to change to an Advantage Plan.
If you would like to compare Medicare Advantage Plans, Medicare Supplement Plans, or Part D drug plans in your area and live in one of the following states tap on the state: Arizona, California, Nevada, Oregon, or Washington.
Call 800-641-3315 and ask for Roy.
Or SCAN the QR Code below
