Medicare Advantage plans combine out-of-pocket maximum protection with some benefits not covered by Original Medicare.The Medicare Advantage Open Enrollment Period is from January 1 to March 31. If you make a change to your plan during this OEP, your new plan will be effective on the first day of the month after you make the change.Unlike during the Annual Enrollment Period, which takes place from October 15 to December 7 each year, you can only make one change during OEP.
What is the Medicare Advantage Open Enrollment Period?
Medicare Advantage plans, also called Part C plans, are a popular choice for people on Medicare. They combine out-of-pocket maximum protection with some benefits not covered by Original Medicare. They also have a unique enrollment period called the Medicare Advantage Open Enrollment Period (OEP). During OEP, you can make a number of changes you normally wouldn’t be able to make in the middle of the year.
When is the Medicare Advantage OEP?
The Medicare Advantage OEP is from January 1 to March 31. If you make a change to your plan during this OEP, your new plan will be effective on the first day of the month after you make the change.
What Changes Can I Make During the Medicare Advantage Open Enrollment Period 2020?
To use the Medicare Advantage OEP, you must already be enrolled in a Medicare Advantage plan. If you don’t have Medicare Advantage coverage, you can’t use the Medicare Advantage OEP to enroll in one. If you do have Medicare Advantage coverage, you can make any of these changes during the OEP:
Change from one Medicare Advantage plan to anotherDrop Medicare Advantage and return to Original MedicareIf you return to Original Medicare, you can enroll in a standalone prescription drug plan (PDP)
It’s important to note that during the Medicare Advantage Open Enrollment Period, you can switch from a plan that doesn’t offer drug coverage to one that does. A Medicare Advantage plan that offers drug coverage is known as an MAPD plan (Medicare Advantage prescription drug plan). You can also switch from an MAPD plan to a Part C plan that doesn’t offer drug coverage. Unlike during the Annual Enrollment Period (AEP), which takes place from October 15 to December 7 each year, you can only make one change during OEP. If you make a change during the Open Enrollment Period, you are still allowed to make a change later in the year during the Annual Enrollment Period. The MA OEP is a second enrollment period, available only to those with Part C coverage.
Switching to Medicare Supplement Insurance During OEP
The Medicare Advantage Open Enrollment Period is also an opportunity to switch to a Medicare Supplement insurance plan. Because they fill in the gaps in Original Medicare, they’re often called Medigap plans. These plans protect you from the gaps in Original Medicare in a different way than Part C plans do. Although you can enroll in Medigap at any time during the year, you can’t have both Medicare Advantage and Medigap at the same time. You have to be able to drop your Medicare Advantage coverage. With the MA OEP, you can do just that. Note that unless you qualify for Guaranteed Issue, you may not be approved for Medigap coverage. You should never drop your Medicare Advantage plan until you know your Medigap coverage is approved. If you drop Medicare Advantage coverage to enroll Medigap, be sure to enroll in a Part D drug plan. Medigap plans don’t provide drug coverage, so you’ll need a prescription drug plan.
Are There Any Other Medicare Advantage Changes for 2020?
There were no major changes to the rules for Part C plans for 2020. However, there are new features available for these plans. Congress relaxed some of the rules for the optional and extra benefits that Medicare Advantage plans can provide. For 2020, Medicare Advantage plans are allowed to offer more health-related supplemental benefits. Some plans are now offering extra benefits, such as:
Nutrition coaching or counselingExpanded transportation benefitsMassage therapyHome care services
Some of these benefits will have additional charges or premiums, while others may be included for no additional premium. Note that none of these extra benefits are guaranteed. Part C plans don’t have to offer them. However, plans are expected to do so. There will likely be a slow rollout, but you can expect to see more optional and supplemental benefits become available over time.
Changing Your Medicare Advantage Plan
Any time you consider making changes to your Medicare Advantage coverage, be sure to thoroughly review the plan you want to switch to. You’ll want to check to see if your doctors accept the plan. You’ll also want to see if your prescription drugs are covered. Each Medicare plan and insurance product we feature has been independently selected and reviewed by the Medicare Expert USA team. If you make a purchase using the links included, Parade.com may be compensated. Next up, here’show to be a good caregiver and take good care of yourself, too.
