The Medicare Advantage Open Enrollment Period (MA OEP) is now underway and runs annually from January 1 through March 31, giving individuals enrolled in a Medicare Advantage Plan an opportunity to review and make changes to their coverage.
During the Medicare Advantage Open Enrollment Period, beneficiaries may:
Switch to a different Medicare Advantage Plan.
Drop their current Medicare Advantage Plan.
Return to Original Medicare.
Enroll in a standalone Medicare Part D prescription drug plan if they drop their Medicare Advantage Plan and return to Original Medicare.
To make changes to prescription drug coverage during this period, beneficiaries must disenroll from their current Medicare Advantage Plan and either enroll in another Medicare Advantage Plan that includes drug coverage or return to Original Medicare and add a standalone Part D plan.
Any changes made during the MA OEP take effect on the first day of the month following enrollment. Individuals who are satisfied with their current Medicare Advantage Plan are advised not to use this enrollment period solely to change drug coverage.
Beneficiaries should also be aware that returning to Original Medicare does not guarantee the ability to purchase a Medicare Supplement Insurance (Medigap) policy without medical underwriting. This could result in higher premiums, waiting periods for pre-existing conditions, or denial of coverage.
The Medicare Plan Finder is available to help beneficiaries find, compare, and enroll in Medicare Advantage plans and can be accessed at www.medicare.gov/plan-compare.
Indiana residents can also receive free, unbiased assistance from the State Health Insurance Assistance Program (SHIP). SHIP operates more than 75 sites statewide, offering counseling in person, by phone, or virtually. SHIP counselors also provide educational presentations and host events throughout Indiana.
To find a SHIP location, view upcoming events, or access additional resources, visit www.in.gov/ship. Assistance is also available through the SHIP Helpline at (800) 452-4800.
For the latest Medicare updates, educational videos, and announcements, residents are encouraged to follow SHIP on social media, including Facebook, Twitter, LinkedIn, Instagram, and YouTube.