The Medicare Advantage Open Enrollment Period ends March 31st. If your Medicare Advantage Plan is not working for you, you can make a change before the end of March.
Medicare’s Annual Enrollment period ended December 7th. Not all is lost if you now realize the Advantage Plan you picked for 2021 is a mismatch with your healthcare needs and budget. Medicare has a three-month window at the beginning of each year, January 1st through March 31st, when you can swap your Advantage Plan for another or drop it and return to Original Medicare (Part A hospital coverage and Part B outpatient coverage).
Now is the time to review your current Medicare plan choice and decide whether to keep your existing coverage or switch to a plan that better suits your needs. Ask yourself these important questions:
Are the doctors I need in the plan’s network of providers? Will the services I need be generally covered? Are the medications I need covered in the plan’s formulary? Does my plan provide coverage for dental, hearing and vision services?
Can I afford my Advantage Care plan, taking into consideration the monthly premium, deductibles, co-pays and the plan’s “Maximum-Out-of-Pocket” benefit? Advantage Care plans Maximum-Out-of-Pocket benefits can range anywhere from $3,400 to over $10,000. If I have a catastrophic event will I be able to pay for my share of the medical costs?
Has my health changed? Have I recently been diagnosed with a chronic condition? Am I about to start a new medication? Does my plan give me the best coverage given my new circumstances?
Don’t assume you need to stick with your current plan. Now is the time to make sure your plan choice for 2021 is a best fit with your healthcare needs and budget. I can help you verify that your plan choice for 2021 is the right choice for your needs.