If you read that title and thought, “Open Enrollment just ended last month,” you’re right! There is so much about Medicare that seems convoluted and confusing. What ended in December was the “Medicare Annual Enrollment” period. Right now, we find ourselves in “Medicare Advantage Open Enrollment,” and it is for folks specifically on Part C (Medicare Advantage).
Between January 1 and March 31, seniors can make a “like” change to their advantage plan. This is a protection that’s built in for seniors if they realize their doctor isn’t in network, or they were misguided into a MAPD plan with a very high premium. Whatever the case, they can make one change to fix whatever happened.
This period also allows seniors to move back to Original Medicare and pursue a Medicare Supplement. Make sure you are approved on the supplement before you make any permanent changes. Medicare Supplements are allowed to “medically underwrite” you for their coverage, so there is a risk of being declined. If approved, make sure you pick up a Part D drug plan to avoid penalties down the road.
I always advise folks on Advantage plans to take careful inventory while they use their plan during this time. This may be the only chance to see where the pain points are and address changes. You won’t always be able to fix everything, but sometimes there is a plan out there that is a much better fit, and this is the time to make a move.
We greatly enjoyed meeting so many of you, our neighbors, over these last several months, and look forward to continued relationships in the new year. If you’re new to Medicare or getting ready to turn 65, please give us a call. We would be honored to assist in the transition. Even if you’ve been on Medicare for 25 years, we’d love to help you by looking at your plan to see if we can save you money. Either way, you are important to us, and we care about the impact we have with our seniors. As always, our services are free to you. Call us at 800-750-2407 or visit at 2604 Long Prairie Road, Suite 100 in Flower Mound.
I hope Christmas was a blessing for you and you were able to enjoy your loved ones. God Bless and Happy New Year!