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Now that it’s officially 2021, the Medicare Advantage Open Enrollment (MAOE) Period began on January 1, 2021. This is an important period for older adults who want to learn more about Medicare Advantage or would like to acquire a Medicare Advantage plan. Let’s take a look at five things you need to know about the Medicare Advantage Open Enrollment Period.

How Long Does Medicare Advantage Open Enrollment Last?

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The Medicare Advantage Open Enrollment lasts for approximately three months. It began on January 1, 2021, and ends on March 31, 2021. While the MAOE has just started, you may not feel prepared to switch to a Medicare Advantage plan yet. Fortunately, you don’t have to worry. The MAOE is an annual enrollment period, so if you miss this year’s enrollment period, you can still switch your plan starting on January 1st of next year.

What Can You Do During the MAOE?

You can take a number of important actions regarding your healthcare coverage during the Medicare Advantage Open Enrollment Period. If you qualify for Original Medicare but have yet to acquire a plan, you can sign up for Medicare Advantage during this time. Alternatively, if you already have Original Medicare but would like to switch to a Medicare Advantage plan, you can also do so during the MAOE.

Finally, if you already have a Medicare Advantage plan but want to shop around for a new one, you can look for and acquire a new one during the Medicare Advantage Open Enrollment Period.

Should You Switch to Medicare Advantage This Year?

This is a very difficult question to answer, as it will largely depend on your budget and your healthcare needs. If you find that your Original Medicare plan is lacking, then switching to a Medicare Advantage plan could be a great option for you. In essence, Medicare Advantage provides the same benefits as Original Medicare. However, Medicare Advantage is provided through a private broker. Medicare Advantage plans also offer various coverage options that are not available through Original Medicare, like prescription drug, hearing, vision, and dental coverage.

If you’d like to learn more about obtaining a Medicare Advantage plan during this year’s Medicare Advantage Open Enrollment Period, feel free to reach out to one of Time for 65’s partnered licensed agents for more information.

The Bottom Line

The Medicare Advantage Open Enrollment Period officially began on January 1, 2021. Though it will continue for about three months, you should start looking at your Medicare options as soon as possible. If you want to make the switch to a new Medicare Advantage plan, now is the time to do it!

If you’d like to learn more about the Medicare Advantage Open Enrollment Period or your Medicare coverage options, feel free to fill out this form or give us a call anytime. Time for 65’s partnered licensed agents are focused on giving you the information you need, with zero pressure to enroll in a plan.