The Medicare Advantage Open Enrollment period will close on March 31, 2025. This period of time lasts from January 1st- March 31st each year for Medicare Advantage plan enrollees.
What options are there during this time?
- Switch to a different Medicare Advantage Plan
- Drop your Advantage plan and return to Original Medicare (Part A and B)
- Enroll in a Medicare prescription Drug Plan (Part D) if you go back to Original Medicare
The Medicare Advantage Open Enrollment Period is only for Medicare Advantage plan members. You cannot switch from Original Medicare to a Medicare Advantage plan at this time. For that you generally will need to wait until the Medicare Annual Enrollment Period which is October 15 – December 7.
If you decide to switch to a new Medicare Advantage plan, you can choose one from the same insurance company as your current plan or from a different one. You can choose any plan offered in the area where you live.
If you decide to go back to Original Medicare, look into Part D and Medicare supplement plans first. You may need to add them to Original Medicare to get the coverage and financial protection you want. Also, think about how you’ll replace the coverage you may be giving up with your Medicare Advantage plan, such as dental and vision.
The bottom line is that the Medicare Advantage Open Enrollment Period, January 1 through March 31, gives you a second chance – after the Medicare Annual Enrollment Period – to make sure that you have a plan that fits your health and budget needs. If you feel like you need to make a change or would like a review before this Open Enrollment period closes, contact our office and one of our Medicare Experts will set up a time to review options with you.