We are currently in the last month of the Medicare Advantage (MA) Open Enrollment Period. This enrollment period ends on the March 31st. This is a crucial time for any client who is in a MA because it the last chance to make changes to their coverage until the Annual Enrollment Period (AEP) in October. Any client who is currently enrolled in a MA plan (one with or without drug coverage) can change to a different MA or elect to go back to Original Medicare and pick up a new Part D coverage. If a client elects to stay in their current plan then that will be health coverage for the remainder of the calendar year. It is also important to note that if a client chooses to return to Original Medicare they will have to medically qualify for a Medicare Supplement if they are outside of the Initial Enrollment Period (IEP). IEP is 3 months before and after their Medicare Part B date. Since they have to medically qualify for a Supplement it is imperative to have the client approved on a Medicare Supplement before disenrolling them from their current MA. Once a client is disenrolled from the MA during this open enrollment period they can not return to a MA until AEP.
All of these separate enrollment periods can be confusing. For further clarification or any follow up questions please don’t hesitate to contact Stockett and Associates.