(It’s been a few months since my last post, due to an unexpected health issue. I am now back to regular blogging.)
Open Season
The term describes the time of year when a particular wildlife species is allowed to be hunted. Each state in the U.S. creates its own laws and codes governing the season dates and species. Establishing these involves a complex process.
Open Enrollment Season
October 15 to December 7 this year marks Medicare Open Enrollment. A complex process which takes place in the midst of serious, significant advertising, especially on behalf of Medicare Advantage plans.
The hunted target: seniors.
The aim of the advertisers: increasing enrollment in Medicare Advantage plans.
The strategy: focus on the many benefits of the Advantage plans.
What the advertisers don’t tell you can cost you. Age Happens. Commonly bringing unexpected physical changes, often requiring costly medical attention.
A Cautionary Tale
One year ago, I changed from a traditional Medicare-plus-supplement plan. I opted for the advertised short-term benefits—”including $0 monthly premiums, free dental and vision plans, a gym membership”—over longer-term risks. For the first several months all was well.
But then! Because of an unforeseeable, unavoidable surgery, my estimated financial responsibilities–up to the MA limit of $6,750 out-of-pocket expenses in 2021–could be more than twice what they would have been had I paid a year’s monthly premiums for traditional Medicare.
My personal Medicare DIS-Advantage.
Special Enrollment Period Benefit
This year in a Special Enrollment Period (SEP) of Medicare Open Enrollment, I plan to take advantage of a little-publicized, one-time-only benefit. Seniors who’ve been in an Advantage plan for less than a year can opt to return with no penalties to their previous, traditional Medicare plan. The caveat: the Medicare Advantage plan must have been in force for LESS THAN A YEAR.
Look before leaping
Or put another way — Research before signing. Any licensed Medicare broker (www.medicare.gov or 1-800-Medicare) can provide further information, explanations and plan comparisons.
Thank you for posting this it was very interesting and informational.
Excellent information! Anyone receiving Medicare should be aware of this.
Pat: sorry you had to learn the hard way. Thank you for sharing this information with everyone. Jack
Very good, timely,important information. It’s always vital to be your own investigator, ask lots of questions & educate oneself on possible scenarios & their consequences.