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4 Tips for Requesting Medicare Quotes during the Medicare Advantage Open Enrollment Period

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The Medicare Advantage Open Enrollment Period (January 1 – March 31) provides an opportunity to make changes to your Medicare Advantage coverage, so you’re not enrolled all year in a plan that doesn’t suit you. Here are a few tips to help you review Medicare quotes and find the right plan for you if you want to take advantage of Medicare Open Enrollment.

1. Review plans from multiple carriers

Depending on where you live, you may have access to Medicare Advantage Plans from more than one insurance carrier. During the Medicare Advantage Open Enrollment Period (OEP), we recommend requesting Medicare quotes for plans from many carriers to be sure you can make an informed decision based on all the options available to you. Different plans offer a range of benefits, costs, and provider networks. The more options you have, the more likely you are to find a plan that fits your specific needs.

2. Consider all the costs

Cost may be one of the reasons you want to change your Medicare Advantage enrollment during Medicare OEP, which makes it even more important to consider when reviewing Medicare quotes. Look beyond the premium and be sure you’re reviewing the deductible, costs for individual services, and your prescription drug costs. Some Medicare Advantage plans bundle prescription drug coverage, which may save you the extra expense of having to enroll in a separate Part D Plan.

3. Double-check the networks

Not having your physician in network is another reason you might want to change plans. Medicare Advantage Plans also have varying policies regarding payment for providers who are out of network. Be sure to pay extra attention to the provider networks and these policies when you’re requesting Medicare quotes during OEP.

4. Know your options

The Medicare Advantage Open Enrollment Period allows for a very specific set of changes to your coverage. If you are enrolled in a Medicare Advantage Plan, you may drop that plan and return to Original Medicare (with an option to enroll in a Part D prescription drug plan) OR you can switch to a different Medicare Advantage Plan. You may only make a change once during this enrollment period, so it’s important you carefully consider all your options before enrolling in a new plan.

Conclusion

The Medicare Advantage Open Enrollment Period is an important opportunity for Medicare Advantage Plan members who may have enrolled in a plan that isn’t meeting their needs. Following these tips during Medicare OEP may help you find a plan that’s a good fit for you throughout the entire year.