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A new consumer report has been launched by an insurance services provider to explain the one change people can make to their 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 consumers are aware of their rights.
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 policyholders can make as many changes as they want to their Medicare advantage plans or prescription drug plans 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 policyholders 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 members of a Medicare advantage plan can change to a new Medicare advantage plan or go back to original Medicare and drug plan.
Additionally, members may apply for Medicare supplemental coverage as well, but medical underwriting may be required. The team explain that this period provides an opportunity for policyholders who missed out on the annual election period or did not realize plan changes were made to their current coverage until the new year.
Paul Barrett Insurance Services and the team explain people 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.
To find out more, interested parties are invited to visit the link provided.
Release ID: 88990204