HELP! I Picked the Wrong Advantage Plan
You were so sure that you made the right choice when you signed up for your Medicare Advantage Plan. But, you realize now after Open Enrollment closed that you made a poor choice. You picked the wrong plan and now fear you have to live with your decision.
I have good news. Beginning in 2019, you have a chance for a ‘do-over” and will be permitted to switch to a different Advantage plan or go back to Original Medicare.
According to the Centers for Medicare & Medicaid Services (CMS), changes have been made to their disenrollment period. The 21st Century Cures Act established a new Medicare Advantage open enrollment period (OEP) as a timeframe for you to make a change. It begins on January 1 and runs through March 31.
Here’s what this means for you: In the past, if you decided to disenroll from your Advantage Plan, you were not permitted to switch to a different Medicare Advantage Plan. Beginning In 2019, if you are enrolled in a Medicare Advantage plan and have a change of heart, you will have a one-time opportunity to:
- Switch to a different Medicare Advantage plan
- Drop your Medicare Advantage plan and return to Original Medicare
- Sign up for a stand-alone Medicare Part D Prescription Drug Plan (if you return to Original Medicare).
Why would someone want to change plans?
While all Medicare Advantage plans cover you for your Medicare Part A and Part B benefits, the doctors, hospitals and other providers included in a plan can vary. Some plans may offer routine vision, dental and hearing benefits. Other plans offer health club memberships at no charge. While prescription coverage is usually included with most Advantage plans, the plan’s covered medications and cost to you can change. In fact, any of the extra benefits beyond the Medicare Part A and B coverage that a plan provides can change so it is up to you to select a plan with the providers and benefits that work for your situation.
If you have concerns about your coverage, you have until March 31 to re-evaluate your Advantage Plan and make a change.
You can contact me at 440-255-5700 or email me at Lmutsko@mutskoInsurance.com to set up an appointment to discuss your insurance needs.
Laura Mutsko is a licensed insurance agent offering a complete line of health and life insurance products, including Individual, Group and Family Health, Medicare Advantage Plans, Medicare Supplement Plans, Medicare Part D Prescription Coverage, Vision, Dental and Life Insurance. Contact Laura at 440-255-5700. Mutsko Insurance Services, LLC is located at 6982 Spinach Drive in Mentor, Ohio.