Not happy with your Medicare Advantage plan?
You can make changes through March 31 during Medicare Advantage Open Enrollment
By Iora Primary Care
Are you not feeling the “advantage” in your current Medicare Advantage plan? Are you unhappy with the network’s providers or pharmacy options, or just feeling regret about your fall selection?
Unfortunately, you’re not alone. Fortunately, if you enrolled in a Medicare Advantage plan, now may be the perfect time to make a switch.
Each year, seniors on Medicare have two opportunities to change their plans. And while most are familiar with the initial Fall Annual Enrollment Period, Oct. 15- Dec. 7, many are less familiar with the newer Medicare Advantage Open Enrollment Period, given its recent introduction just last year.
Happening now through March 31, this new period provides a second chance to those on Medicare Advantage plans to change their selections. However, unlike the fall annual enrollment period, enrollees are permitted to make only one change during this time, so making an informed decision is all the more important.
Here are some important things to consider:
What changes can I make now during the new Open Enrollment Period?
For those on Medicare Advantage plans, this new period presents a limited, three-month opportunity (Jan. 1 – March 31) to compare, reassess and make changes to an existing advantage plan. (Note: If you’re enrolled in Original Medicare (Part A and Part B), the new open enrollment period doesn’t apply to you).
During this new period, MA enrollees can:
*Switch to another Medicare Advantage plan.
*Drop your Medicare Advantage plan and return to Original Medicare.
*Make changes to your Part D prescription drug coverage, if: (1) switching from a Medicare Advantage plan without prescription drug coverage to another Advantage plan that includes it; or (2) dropping a Medicare Advantage plan to return to Original Medicare, in which case you may enroll in a stand-alone Part D prescription drug plan.
*As a policyholder of a Medicare Advantage plan, you are able to make one switch to your policy during this time, and your chosen coverage goes into effect on the first day of the next month from when you make the change. For example, if you switch Medicare Advantage plans in March, then your new coverage becomes effective April 1.
How do I choose a plan or doctor that’s right for me?
Along with switching plans, the Open Enrollment Period is a great opportunity to evaluate if your current primary care provider is working for you. However, with so many options, it’s often helpful to sit down with an insurance representative or agent who can help you choose a plan that best suits your lifestyle and goals.
At Iora Primary Care, a local doctor’s office for adults on Medicare, our Patient Enrollment team can connect you to trusted insurance agents that can help explore your options and make the decision that’s right for you. With an office conveniently located in Winston-Salem, our team is happy to help answer your questions and refer you to someone to help you find the right plan for you.
For more information or to schedule a tour of Iora Primary care, call 336-355-4635 or visit: http://www.iorawinstonsalem.com.
