Written by Marv Law
In October of every year, the Medicare Advantage Plans mail an Annual Notice of Change which outlines and compares the previous year’s plan with next year’s plan. Unfortunately, many members do not recognize the notice and/or fail to review it. Consequently, they are sometimes unaware of their plan changes, until they use their plan in the new year.
Others may have been persuaded by a sales call, or an agent, to enroll in a different plan for the new year, but they did not understand how changing plans would effect their coverage, such as the cost of their prescriptions or the doctors they have access to see. For this and other reasons, Medicare has an Open Enrollment for those on Medicare Advantage Plans from January 1 to March. During this period a member can make one change from their Medicare Advantage Plan to another Medicare Advantage Plan, or leave their Medicare Advantage Plan
and return to original Medicare and a separate stand-alone drug plan. If they are eligible, they can also enroll in a Medicare Supplement to help pay the deductibles and copays not paid by Medicare Part A and B.
In addition to this Open Enrollment Period, there are Special Enrollment Periods that allow members to change plans, such as moving to a new area that offers different plans, or coming off an employer group plan transitioning to Medicare. Lastly, turning 65 is an Initial Enrollment Period to choose any Plan or Medicare Supplement available in the members residential area
For reviews and consultations to determine the most appropriate Medicare options, we recommend meeting with a local expert, who contracts with many companies and plans, and can create transparent reports for a fair and honest comparison.
For more expert advice, reach out to Marv Law with Health Bridge Insurance by calling him at 760-345-4705 or email him at [email protected]
