Hey Medicare Nation!
It’s 2020! Love the sound of that!
Right now…… the Medicare Advantage Open Enrollment Period is in full swing.
If you are on a “Medicare Advantage Plan,” you have the opportunity to make a ONE TIME change, between January 1st through March 31st.
You can change from one Medicare Advantage Plan to another Medicare Advantage Plan.
You can “disenroll” from the Medicare Advantage Plan you’re on and go back onto “Original Medicare.” With Original Medicare, you can add a stand-alone-prescription drug plan and ….. you can enroll into a Medicare Supplement Plan (aka Medi-gap) to help defray the costs of Original Medicare.
Here are options you can do during the Medicare Advantage Open Enrollment Period:
- Change from a Medicare Advantage Plan back to Original Medicare.
- Switch from one Medicare Advantage Plan to another Medicare Advantage Plan.
- Switch from a Medicare Advantage Plan that doesn’t offer drug coverage to a Medicare Advantage Plan that offers drug coverage.
- Switch from a Medicare Advantage Plan that offers drug coverage to a Medicare Advantage Plan that doesn’t offer drug coverage.
- Join a Medicare Prescription Drug Plan.
- Switch from one Medicare drug plan to another Medicare drug plan.
- Drop your Medicare prescription drug coverage completely
I’m adding the EXACT language from the Medicare Managed Manual, regarding the Medicare Advantage Open Enrollment Period.
30.5 – Medicare Advantage Open Enrollment Period (MA OEP) 42 CFR 422.62(a)(3) (Rev. 1, Issued: July 31, 2018; Effective/Implementation: 01-01-2019)
During the MA OEP, MA plan enrollees 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.
This chart outlines who can use the MA OEP and when: Who can use the MA OEP: MA OEP occurs:
Individuals enrolled in MA plans as of January 1 – March 31 New Medicare beneficiaries who are enrolled in an MA plan during their ICEP The month of entitlement to Part A and Part B – the last day of the 3rd month of entitlement
Individuals may add or drop Part D coverage during the MA OEP. Individuals enrolled in either MAPD or MA-only plans can switch to: • MA-PD • MA-only • Original Medicare (with or without a stand-alone Part D plan)
The effective date for an MA OEP election is the first of the month following receipt of the enrollment request.
NOTE: The MA OEP does not provide an opportunity for an individual enrolled in Original Medicare to join a MA plan. It also does not allow for Part D changes for individuals enrolled in Original Medicare, including those enrolled in stand-alone Part D plans. The MA OEP is not available for those enrolled in Medicare Savings Accounts or other Medicare health plan types (such as cost plans or PACE).
You may also go onto Medicare.gov to view information on the Medicare Advantage Open Enrollment Period.
If you decide to make a change during the MA OEP, you will be “locked-in” to the new plan, until the next enrollment period…. which is….the Annual Enrollment Period, from October 15th through December 7th.
You may also make a change to your plan if you have a “special circumstance.”
These are listed under the “Special Election Periods” for Medicare on Medicare.gov
You can also LISTEN to my previous show on Special Election Periods….. Episode 051, which was published on July 29, 2016. The episode is titled….. “Special Election Period Q & A”
I go into detail about the Special Elections available.
Remember Medicare Nation listeners…….. an “Insurance Agent,” is NOT allowed to “solicit” you during the Medicare Advantage Open Enrollment Period.
There are strict Medicare regulations regarding this.
YOU must make the first move in contacting or telling your “Agent” or Medicare Specialist, that you are unhappy with your current plan.
No one should be calling you, texting you, emailing you ….. or worse…… knocking on your door, telling you about the Open Enrollment Period. If someone does…… tell them to “Take a Hike!” You don’t need a dishonest person like that helping you with your Medicare needs!
If you need help finding a new plan during the OEP, contact you’re Medicare Advisor.
If you are all set with your Medicare Advantage Plan for 2020, You don’t need to do anything! Just enjoy your family, friends and activities!
Thank you for listening to Medicare Nation!
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Medicare Consultant Medicare Nation LLC.