What is Medicare Open Enrollment?
So, you just lived through all the commercials for Annual Open Enrollment, Now what?
Open Enrollment Period (OEP): Jan 1st through March 31st
What can beneficiaries do during OEP?
You can: Switch to a different Medicare Advantage Plan
You can: Drop you’re Medicare Advantage plan and return to Original Medicare
You can: Sign up for a stand-alone prescription Part D plan if you return to Original Medicare. You may be able to add a Supplement/Medigap policy when returning to Original Medicare
Those who did not enroll in Medicare when they were first eligible:
You should enroll by calling Social Security or SSA.gov but it won’t take effect until July 1st and will come with a penalty of 12% per year.
What can’t beneficiaries do during OEP?
You can’t: Switch from Original Medicare to a Medicare Advantage Plan
You can’t: Join a Medicare Prescription Drug Plan, if you are in Original Medicare
You can’t: Switch from one Medicare Prescription Drug Plan to another, if you are on Original Medicare.
Please contact me if you need to get enrolled in Medicare or you need to make an adjustment to your Medicare Advantage plan or return to Original Medicare.