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Don’t Forget to Update Your Medicare Advantage Policy!

Aging Benefits Advisory Medicare Advantage Policy

The Medicare Advantage Open Enrollment Period will close at the end of this month, so be sure to update your policy before March 31st.

March is here, and that means the Medicare Advantage Open Enrollment Period will be ending soon. If you haven’t looked over available policies and made any necessary changes, now is the time to do so. Remember that Medicare Advantage is offered by private companies, so you will need to request your changes from the company that is providing your policy, not Medicare. Doing this as soon as possible will ensure that your changes are submitted on time, and you’ll be able to enjoy the benefits of your new plan beginning at the start of next month.

How Long Do You Have?

If you have a Medicare Advantage plan and you need to make changes, be sure to do so before March 31st, 2023. This is the cutoff time for the Medicare Advantage Open Enrollment Period. There are still a few weeks left, but don’t wait until the last minute to submit your changes. The sooner your changes are submitted, the sooner it’s off of your to-do list, and your new plan will be in effect starting on April 1st.

What Changes Can You Make?

There are two changes that Medicare Advantage policyholders can make during the open enrollment period:

  1. You can choose to switch from your current Medicare Advantage plan to a different Medicare Advantage plan. If your plan isn’t doing what you need it to do, this is your chance to review other available plans and choose one that suits your needs better.
  2. You can choose to switch from a Medicare Advantage plan to an Original Medicare plan. You will be able to join a Medicare drug plan (Part D) at this time if you choose to make the switch.

What Changes Are Not Allowed?

Basically, if you are not a Medicare Advantage policyholder, you won’t be able to make any changes to your policy at this time. Some of the changes that can’t be made during this enrollment period include:

  • You cannot make the switch from Original Medicare to a Medicare Advantage plan.
  • If you have Original Medicare, you will not be able to join a drug plan (Part D) at this time.
  • You cannot switch your Medicare drug plan if you have Original Medicare.

All of these changes are applicable to Original Medicare policyholders. These changes can be made during the Medicare Open Enrollment Period that begins in September.

Contact Aging Benefits Advisory Today!

If you need help navigating the world of senior health insurance, our advisors at Aging Benefits Advisory are here to assist. Take advantage of our free consultation to ensure that you receive the plan for your budget and needs. We specialize in Medicare Advantage, Medicare Supplements, Dental, Vision, and Final Expense insurance for the senior market of Pinellas County, Pasco County, Manatee County, Hillsborough County, Polk County, Sarasota County, Citrus County, and Marion County, Florida. If you would like a free consultation, contact us online or give us a call at 727-266-0355. For more information, follow us on Facebook, Pinterest, and YouTube.

This entry was posted on Friday, March 10th, 2023 at 5:48 pm. Responses are currently closed, but you can trackback from your own site.