A new report has been launched in a bid to provide consumers with expert advice and guidance before the Medicare Open Enrollment period, during which time consumers have the right to make changes to their plans to ensure it meets their needs.
Is your Medicare health plan changing next year? Are you aware many insurance companies make changes to their plans each year? Did you know you can change your plan if the new changes do not fit with your budgetary or medical needs? If you are thinking of renewing without first reviewing your policy, you need to read this report!
A new consumer report has been launched by an insurance services provider to explain the one change you can make to your Medicare Advantage Plan from January 1st – March 31st, 2021. The team at Paul Barrett Insurance Services add that Medicare open enrollment can seem confusing, but it is important you are aware of your rights.
You can find out more at http://www.paulbinsurance.com
The newly launched report explains that while the annual enrollment period runs from October to December each year and you can make as many changes as you want to your Medicare advantage plan or prescription drug plan also known as Part D, the open enrollment period between January 1st and March 31st is different.
During this period, Paul Barrett Insurance Services explains you can make one change, which will go into effect the 1st of the following month after the change was made. For instance, the team explain if you are a member of a Medicare advantage plan, you can change to a new Medicare advantage plan or go back to the original Medicare or a drug plan.
Additionally, you may apply for Medicare supplemental coverage as well, but medical underwriting may be required. The team explain that this period provides an opportunity for you if you missed out on the annual election period or did not realize plan changes were made to your current coverage until the new year.
Paul Barrett Insurance Services and the team explain you may be unaware of the significance of this period because unlike the annual enrollment period, insurance carriers, brokers, and agents are not allowed to advertise and promote changing plans during this time.
A spokesperson said: “The Medicare open enrollment period is essentially Medicare trying to give you one last opportunity to improve your coverage situation without all the sales pressure that comes with the annual enrollment period, which has gotten out of control.”
“If you are on a Medicare advantage plan and have not examined how well it will fit your current health and budgetary needs for the New Year, you should look at your plan and any changes that have been made. If you have any questions regarding Medicare or your coverage, you can call Paul directly at 631-358-5793,” they added.
You can find out more by visiting the link provided!