Understanding Medicare Advantage Open Enrollment: What You Need to Know

If you're currently enrolled in a Medicare Advantage plan, the Open Enrollment period (January 1 – March 31) is your chance to make sure you're still on the right plan. Whether you’re not happy with your current coverage or just want to explore other options, this period is the perfect time to review your choices. In this post, we’ll break it down for you—what Open Enrollment means, who it’s for, and why it’s important to take action.

What Exactly is Medicare Advantage Open Enrollment?

Medicare Advantage Open Enrollment is a time each year when those already enrolled in a Medicare Advantage plan can switch plans or even drop their current plan. You can also return to Original Medicare (Parts A and B) if that’s a better fit for you. This is your annual opportunity to adjust your coverage based on any changes in your health, budget, or needs.

Who Can Make Changes During Open Enrollment?

Open Enrollment is for people who are already enrolled in a Medicare Advantage plan. If you’re new to Medicare or enrolling for the first time, you’ll need to wait for the next Annual Enrollment Period in the fall. But if you're already in a Medicare Advantage plan, you have until March 31 to make any changes for the year ahead.

What Changes Can You Make?

Here’s where it gets good: During Open Enrollment, you can make a few different changes:

• Switch between Medicare Advantage plans: If you’re not happy with your current plan, you can look around for one that offers better coverage, lower costs, or a different provider network that suits your needs.

• Go back to Original Medicare: If you feel that Original Medicare (Part A and Part B) is a better fit for you, you can drop your Medicare Advantage plan and switch back. Just keep in mind that if you do this, you’ll need to sign up for a Medicare Part D plan (prescription drug coverage) if you need it.

• Sign up for a Part D plan: If you return to Original Medicare, you can also enroll in a standalone prescription drug plan (Part D) during this time.

Important Deadlines to Remember

The deadline for making any changes is March 31. That means you need to act before that date if you want to switch plans, go back to Original Medicare, or make any other changes. After that, you’ll have to wait until the next Annual Enrollment Period in the fall to make any adjustments.

Why You Should Take Action

It’s easy to let things slide, but your healthcare needs can change from year to year. Maybe you’ve had a change in your health, or perhaps your plan’s costs have gone up, or maybe you’re just realizing there’s a plan out there that better fits your lifestyle. This is your time to check in on your plan and make sure it’s still the best option for you.

We’ll be diving into more details in our next post about how to actually switch your Medicare Advantage plan. So, stay tuned and be sure to take advantage of this period—it could be the best decision you make for your health in 2025!