Medicare Advantage Plans are in the news of late. So, while yesterday (12/7) marked the end of the annual Medicare Open Enrollment Period (AEP), if you’re second guessing your selection of a Medicare Advantage Plan, there’s this.
From January 1 through March 31 there is also a ‘General Enrollment Period’ (GEP) when you can
- Enroll in Original Medicare (Parts A and B)
- If you’re enrolled in a Medicare Advantage Plan (Part C), you can switch to another MA Plan.
- You can also drop an MA Plan and return to Original Medicare. Word of caution; purchasing a Medicare Supplement Plan - even during this GEP - is subject to medical
underwriting.
One other related note.
Much has been made about the Medicare $2,000 out of pocket cap for drugs in 2025. BUT, did you know that if your prescription drug is not on your insurance plan’s
formulary, the cap does NOT apply to that medication, and you will likely have to pay the full cost?!
If you did a thorough review of all your medications before renewing your Medicare Advantage Plan, you should be good to go.
If not, GEP crackin’!
