If you’ve already turned 65, retired or are in Medicare you likely know that there are specific times that you can enroll in or leave your supplemental plan. Now that the Annual Enrollment Period (AEP) is over, what can you do now?
MEDICARE ADVANTAGE (MA) - If you currently are enrolled in a Medicare Advantage plan, you have an Open Enrollment Period that runs from Jan 1 to March 31st . You can move to a different MA plan, go back to original Medicare with a Medicare Supplement (may be medically underwritten) or add a Part D plan if you drop your MA.
SPECIAL ENROLLMENT PERIODS (SEP) – There are several situations that will trigger a Special Enrollment Period for those who are enrolled in a Medicare Advantage or Part D plan. There are 20 different reasons you can change, but I will list the most common here. Please reach out to us if you have questions about your coverage, want to know if you qualify for a SEP or need to access one of the SEPs for your policy.
Below are the most common types of SEPs:
MOVING – You move permanently. You can change your plan 1 months prior to and 2 months after your move.
INSTITUTIONALIZED – You enter or leave a facility.
EXTRA HELP, MEDICAID OR MSP – You gain, lose or have a change in your status.
5 -STAR PLAN – You want to enroll in a Medicare Advantage or Part D plan that has a 5-star designation. This can be done anytime, provided there is a 5-star plan in your area.
FIRST MEDICARE ADVANTAGE PLAN – You can disenroll from your MA plan at any time during the 12 months after your health plan coverage first started and go back to a Medicare Supplement plan with no underwriting.
Colorado Special Enrollment Period
This is a one-time enrollment period which applies to Colorado residents who are currently enrolled in a Medicare Supplement Policy Plans C, F or high deductible F. It allows you to unenroll from your current policy and enroll in a Plan(s) D, G or high deductible G with no underwriting. This SEP runs from Jan. 1 to June 30, 2021.
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