Medicare Enrollment: Understanding Your Options This Season
Medicare’s Annual Enrollment Period (AEP) runs from October 15 through December 7. This is the time when you can review your current plan, compare new options, and make changes for the year ahead.
This year, many beneficiaries are receiving notices that their Medicare Advantage plans are being discontinued. Though it may surprise you at first, this change provides you with an important opportunity to rethink your coverage and consider whether a Medicare Supplement (Medigap) plan may be a better fit.
Here’s what to keep in mind:
What Happens If Your Advantage Plan Ends?
If your Medicare Advantage plan is discontinued, you’ll automatically return to Original Medicare (Parts A and B). From there, you’ll have a Special Enrollment Period that allows you to choose new coverage—whether that’s another Advantage plan or a Medicare Supplement.
Why Consider a Medicare Supplement Plan?
Nationwide Access: Supplement plans work with any provider who accepts Medicare, without network restrictions. This is a major benefit if you travel often or want freedom in choosing doctors and specialists.
Predictable Costs: These plans help cover Medicare’s deductibles, copays, and coinsurance, reducing surprise bills.
Stability: Unlike Advantage plans, Supplement benefits don’t change year to year. Once you’re enrolled, you can count on consistent coverage.
Important Note on Enrollment
Medicare Supplement Plan enrollment is generally easiest when you first turn 65 and enroll in Medicare Part B. During this “guaranteed issue” window, you can choose any Medicare Supplement plan without medical underwriting. However, if you’re switching now because your Advantage plan is ending, you may also be eligible for a guaranteed issue enrollment that eliminates the need for medical underwriting or potential denial due to a pre-existing medical condition.
Takeaway
While losing a Medicare Advantage plan can feel like a disruption, it can also be an opportunity. Medicare Supplement plans provide flexibility, financial predictability, and long-term stability.
For more information on Medicare Supplement Plans and your eligibility give us a call at 401-830-9385 or fill out a convenient form and we will call you.