Medicare Advantage Open Enrollment is a one-time opportunity, between January 1 and March 31 every year. If you have a Medicare Advantage Plan, you may switch from your current plan into another Advantage Plan or switch into Original Medicare and pick up a Part D prescription drug plan, if you choose. Changes made during this time are effective on the first of the following month.
Medicare Advantage plans are the alternative to original Medicare with a supplement. Medicare Advantage plans are usually structured as HMOs or PPOs, meaning there is a network of providers that you need to use. When using the Advantage plan, you will have copays for each service up to a set maximum out-of-pocket, which can be $3,500 - $10,000, depending on the plan.
Medicare Advantage plans do offer extras, such as dental, vision, and hearing coverage. Many Advantage plans also are offering additional benefits such as gym memberships or an allowance for over-the-counter medications.
If you have questions about your coverage or would like help to compare your current plan to your other options, you may contact Indiana’s State Health Insurance Assistance Program (SHIP), a program of the Indiana Department of Insurance, at 1-800-452-4800 to receive free confidential and impartial Medicare information. You also can visit www.medicare.in.gov.
SHIP is part of a national, federally-funded network that offers free impartial health insurance counseling and educational services for people with Medicare. Indiana’s SHIP helps people with Medicare make informed decisions about Medicare and related health insurance at over 100 local sites with over 370 trained volunteers across the State.
About the Indiana Department of Insurance
The Indiana Department of Insurance (IDOI) protects Indiana's insurance consumers by monitoring and regulating the financial strengths and market conduct activities of insurance companies and agents. The IDOI monitors insurance companies and agents for compliance with state laws to protect consumers and to offer them the best array of insurance products available. The IDOI also assists Hoosiers with insurance questions and provides guidance in understanding how insurance policies work.