Get Good AdviceIf you are on a Medicare Advantage (MAPD) or Prescription Drug Plan (PDP), you should always consider having an annual review by an unbiased independent Medicare agent who will provide you ALL your options. Most plans change annually and the formulary changes could cause financial hardship. A drug you need could no longer be part of the formulary or it could be changed to a higher tier level. Always review your plan's Annual Notice of Change (ANOC) when it comes in the mail. If you don't understand it or don't know what to do, call the Medicare Journey number for advice. |
Annual Enrollment PeriodOctober 15 - December 7 You have several options for this Enrollment Period, AEP. The effective date of your new plan would be Jan 01 Option 1: Switch from your MAPD plan to another MAPD plan that better suits your needs Option 2: Drop your MAPD plan and go back to Original Medicare* - you need to enroll in a stand-alone PDP plan Option 3: Change from Original Medicare to a MA-only or MAPD plan Option 4: Disenroll from your stand-alone PDP plan (be careful because you could start incurring penalties) Option 5: Change from one PDP plan to another PDP plan that better suits your needs | January 1 - March 31 There are basically two options on offer during Open Enrollment Period, OEP and the effective date is the 1st of the following month Option 1: Switch from your current MAPD plan to another MAPD or MA-only plan Option 2: Drop your MAPD plan to go back to Original Medicare and sign up for a PDP plan (& Medigap plan*) | Special Enrollment PeriodsMany Dates! There are many Special Enrollment Periods (SEP) and too many to mention here but a SEP will allow you to switch plans outside the AEP/OEP. Most Common:
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