Medicare Advantage Plans Open Enrollment

Medicare Advantage Plans Open Enrollment (MA/MA-PD) and Medicare Prescription Drug Plans (PDP)  

If you are looking to join a Medicare Advantage (MA) plan, a Medicare Advantage Plan with Prescription Drug (MAPD) coverage or a standalone Prescription Drug Plan (PDP), you need to be familiar with the different times that enrollment is available. To join a Medicare Advantage Plan you must be eligible for Medicare Part A and enrolled in Medicare Part B.  You will need to continue to pay your Medicare Part B premium, and live in the plan’s service area. Pre-existing conditions are allowed with the exception of End Stage Renal Disease (ESRD).

To join a Medicare Prescription Drug Plan you must have Medicare Part A or Part B.

There are generally 4 different enrollment opportunities for Medicare Advantage and Medicare Prescription Drug Plans.  They are…

• IEP
• AEP
• SEP
• MADP

What is the difference between IEP and AEP

IEP or Initial Enrollment Period is when you first become eligible for Medicare Part A and Part B or when you reach age 65.  During the IEP there 7 month window includes three months before, the month of, and three months after you turn 65.

AEP – Annual Enrollment Period takes place during the fall season and is often referred to as Open Enrollment.  At this time, you can make changes to your plan including changing to a new plan with better benefits, lower cost or both.  There are many reasons why you may want to make changes but just remember that this is the only time that the changes are permitted by law. Here are some additional facts about AEP that you need to know.

Remember the Annual Enrollment Period (AEP) date. It does not change and is always October 15^th  through December 7^th  each year.

All changes made during the Annual Enrollment Period (AEP) will take effect January 1^st of the upcoming year. During your Initial Enrollment Period (IEP), when you first become eligible for Medicare, your plan will go into effect the first of the following month after enrolling in a plan.

• In most cases the Annual Enrollment Period (AEP) is the only time you can change to a new Medicare Part C – Advantage Plan or Medicare Part D – Prescription Drug plan, unless you qualify for a Special Enrollment Period (SEP). When switching plans, the new plan will go in to effect January 1^st of the upcoming year.

• If you disenroll in a Prescription Drug Plan (PDP) you will not be able to reenroll until the Annual Enrollment Period becomes available, October 15^th through December 7^th of the following year. You will also incur a penalty when you reenroll if you do not have creditable coverage.

• If you turn 65 or become eligible for Medicare before or after the Annual Enrollment Period (AEP) you have a seven month period, know as your Initial Enrollment Period (IEP), to enroll in a Prescription Drug plan to avoid any possible penalties. The plan can take effect the first of the following month after you enroll.

Do I qualify for a Special Enrollment Period – (SEP)

This enrollment option is allowed for times when certain events happen in life, such as if you…

• move to an area that does not service your existing plan.
• return to the U.S. from another country.
• lose your current creditable coverage through your employer or your spouse’s employer.
• If you lose or gain your Medicaid eligibility.
• become widowed or divorced.
• are released from jail or prison.
• Become eligible for “Extra Help” due to low income eligibility.

What is MADP – Medicare Disenrollment Period.

If you have a Medicare Advantage plan, you do have the option of going back to your Original Medicare if that plan worked better for your needs.

Medicare Advantage Disenrollment Period (MADP) offers those enrolled in a Medicare Advantage Plan the opportunity to return to Original Medicare during the MADP election period of January 1^st through February 14^th. However, keep in mind that you may have to qualify medically, if you wish to purchase a Medicare Supplement plan.

Key Dates and Points to Remember

• October 15 – December 7 – Open Enrollment/Annual Enrollment Period (AEP)
• January 1 – February 14 – Medicare Advantage Disenrollment Period (MADP)

Remember to check your Medicare Advantage Plan and Prescription Drug Plan coverage plan every year. Keep in mind that plans, networks, and formularies can change from year to year. To make sure that you are in the right plan, you should speak to one of our professional advisers.

You’re not alone.

If you find it difficult sorting through all the plans to find one you think might be the right one for you, you’re not alone. If you are struggling with understanding Medicare Advantage Plans (MA), Medicare Advantage Plans with Prescription Drug coverage (MAPD), Medicare Prescriptions Drug Plans (PDP) or any Medicare plan, we can assist you.  No question is a bad question. You are under no obligation.

You can call us at (888)-564-2326 or by completing the Contact Request Form giving us permission to call you with benefit information and to explain the difference between plans that are available in your area. We are happy to assist you.  When you call us – you won’t reach a call center.  We offer one on one professional service that helps to make sure you get enrolled in the best plan possible.
At National Insurance Services of North America (NISONA) we are committed to your total satisfaction. Our goal? “Peace of mind to last you a lifetime!”  Our clients tell us, “Our service is what sets us apart.

Call us toll free at (888)-564-2326