Every year Medicare eligible individuals have certain times of the year to make changes to their plans.  One such time is the Medicare Advantage Open Enrollment Period, (MA-OEP.) This annual period is from January 1st through March 31st.  During this time those who already have a Part C – Medicare Advantage (MA) plan may be allowed a one-time change to your plan. This period also allows you to exit the MA plan and go back to original Medicare Parts A & B and to enroll in a stand-alone Part D Prescription Drug Plan. (PDP.)  If you are currently covered by Original Medicare and not in a MA plan you cannot enroll in a MA plan at this time but will be able to during the Annual Election Period (AEP,) between October 1st and December 7th.

If during MA-OEP, you switch to a different MA Plan you are guaranteed approval, meaning there are no medical questions to be approved and pre-existing medical conditions are covered by the new plan.  If you choose to exit a MA plan and go back to original Medicare most likely you will want a Medigap plan to help with the deductibles and co-insurance of original Medicare Parts A & B.   In most cases these plans will be medically underwritten meaning that your current health status will be a factor in the approval and pricing of the Medigap Plan.  There is an exception known as the MA Trial Right which guarantees acceptance if you had an MA plan for the first time and are in the first year of coverage.  This would allow you to obtain a medigap plan with guaranteed approval.

Lastly, if you have a stand-alone PDP plan and want to change plans you cannot do this during MA-OEP, but you will be able to change it during AEP – October 15th through December 7th.

If you have any questions, we are here to help guide you to the plan that works best for you.  Please call our number or contact us here on our website.

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