People enrolled in Medicare ­Advantage health insurance plans have the entire first quarter until March 31 to switch to a different Medicare Advantage plan. They also can switch from Medicare Advantage to original Medicare plus a Part D prescription drug plan and a Medicare supplement plan. Years prior these changes couldn’t be made after December 7.

More than one-third of Medicare enrollees now are in Medicare Advantage plans which are alternatives to original Medicare plans and are offered by private health insurance companies. This new extended switching period provides extra time for participants to reconsider their choices for 2019. Maybe the Medicare Advantage plan they originally chose has left them with more out-of-pocket expenses than expected or dropped a preferred doctor from its network or reduced coverage for a needed medication or they simply became aware of a more attractive plan.

This switching period is for current Medicare Advantage enrollees only, however. People currently enrolled in original Medicare cannot switch to a Medicare Advantage plan or change Medicare Part D plans until the open-enrollment period that runs from ­October 15 through December 7.

Call Cosmo to review your current Medicare Advantage plan to see if this plan is still right for you and explore other options if needed. Review alternatives before the deadline March 31st.

Cosmo Insurance Agency is an independent insurance agency serving surrounding communities in New Jersey. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating the latest in technology-based tools and laws on healthcare, employee benefits, life insurance and finance, we keep our clients up-to-date with the plans that encompass all of their needs, whether it is individual or group insurance. 

 

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source: https://bottomlineinc.com/money/health-insurance/more-time-for-medicare-advantage-holders-to-switch?utm_source=sumome&utm_medium=twitter&utm_campaign=sumome_share

Posted 3:00 PM

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