Medicare Advantage Open Enrollment 2019: All You Need To Know

Medicare Advantage Open Enrollment 2019

As 2019 gets off, enrollments for Medical Advantage have also begun.  As of 2019, this time period has been set from the 1st of January to the 31st of March, before 2019 this was the disenrollment period.  During this time, you have the option of making modifications to your Medicare advantage plans.

Not to be confused with enrollment into Original Medicare, which only occurs at the time when you turn 65. During the Open Enrollment Period (OEP) you can choose to:

  • Enroll into a Medicare Advantage Plan
  • Opt out of an Advantage Plan
  • Get drug coverage or opt out
  • Enroll into a Medigap policy

In summary this is the time of the year when you make any changes you like to the coverage you are getting. Some things you should know when OEP begins are:

MA Plans Might Better Than Medigap

Although it depends on your financial requirements, many people prefer going for Medicare Advantage Plans rather than Original Medicare with Medigap. Although MA plans and Original Medicare include both Parts A and B, in some cases Medicare Advantage could be cheaper.

Working with Original Medicare offers you coverage only through part A and B. In order to get coverage for prescriptions or dental care you need to sign up with Part D Medicare as well.  The added premium payments may go higher compared to a MA plan, so you might also need a Medicare Supplement policy as well.

MA plans on the other hand may extend coverage at lower rates compared to Original Medicare.

This Is When You Can Opt Out Of Medicare Advantage

Medicare Advantage

If you are dissatisfied with the coverage from Medicare Advantage plans, you can simply choose to give up your plans for original Medicare. Healthcare requirements and financial conditions change from time to time.

If you feel that Medicare Advantage cannot offer coverage for the services that you need, you can just switch back to Original Medicare instead.

Late Enrollment Policies

If you miss out on the opportunity to sign up for an Advantage plan or make any changes that you like, you may have to pay late enrollment fees.  This applies to enrollments in Part B Medicare, where your premium payments might go up by 10% for full 12-months. In some cases, you might not be allowed to enroll into Part B at all.

For more information on the Medicare Advantage enrollment period and the ways in which you can change your coverage plans, get in touch with Seniors for Medicare consultants today. We have been helping senior citizens in New York and New Jersey find suitable Medicare health plans that give the most extensive coverage at the lowest cost for 10 years.

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