Hey Medicare Nation!
Today, I’m going to speak with you about the Medicare Advantage Open Enrollment Period.
CMS…Centers For Medicare & Medicaid Services has issued a new regulation that began January 1, 2019.
Under 42 CFR 422.62(a)(3)….CMS published the following:
During the MA OEP, MA plan enrolles may enroll in another MA plan or disenroll from their MA plan and return to Original Medicare. Individuals may make only one election during the MA OEP.
Who can use the Medicare Advantage Open Enrollment Period?
1. Individuals enrolled in Medicare Advantage plans as of January 1.
2. New Medicare beneficiaries who are enrolled in an Medicare Advantage plan during their Initial enrollment into Medicare
a. The month of entitlement to Part A and Part B up until the last day of the 3rd month…after the month of their entitlement to Part A and Part B.
Can Medicare Advantage beneficiaries add or drop their Part D coverage during the Medicare Advantage Open Enrollment Period?
Yes. Individuals who are already enrolled in a Medicare Advantage Plan with Prescription Drug Coverage can switch to:
a. Another Medicare Advantage Prescription Drug Plan
b. A Medicare Advantage Plan ONLY (with NO prescription drug coverage)
c. Go back to “Original Medicare” and add a stand-alone prescription drug plan or don’t add one.
d. Go back to “Original Medicare” and add a Supplement to Original Medicare Plan.
How long is the Medicare Advantage Open Enrollment Period?
It runs from January 1st through March 31st each year.
How many times may a Medicare Beneficiary change Medicare Advantage Plans during the MA OEP?
A Medicare Beneficiary may make only ONE change during the MA OEP.
If you have ANY questions regarding the MA OEP….
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Until next time Nation…..I want each of you to have a Happy, Peaceful and Prosperous week!