Medigap Monday: New Open Enrollment Period
Starting in January 2019, Medicare is going to have a new open enrollment period that runs from January 1st to March 31st. Medicare offered this open enrollment a few years ago but decided to end it and came out with MADP period which is the Medicare Advantage Disenrollment Period. The MADP was designed for people who chose an Advantage Plan during Annual election period and realized they didn’t like it. They were given six weeks to upgrade back to a Medicare Supplement plan. However, the good news is that so many people have complained that that time period in not long enough so Medicare is getting rid of the MADP and they’re bringing back the open enrollment period from January 1st to March 31st.
What this means is if you have a Medicare Advantage Plan, you can go back to Original Medicare and get a Medicare Supplement plan. You do not have to wait until the Annual Election Period in October and vice versa, if you have a Medicare Supplement and want to switch to a Medicare Advantage, you can make this switch as well. It also allows you go from one Medicare Advantage Plan to another Medicare Advantage Plan without having to wait until the Annual Election period in October, it does NOT allow you to switch from your current Part D drug plan to another drug plan because those are annual contracts.