SOMA Living March 2023

MEDICARE

MEDICARE ADVANTAGE OPEN ENROLLMENT PERIOD (OEP)

If you change your mind about a Medicare Advantage Plan for any reason, the Medicare Advantage Open Enrollment Period (OEP) from January 1 to March 31 gives you the opportunity to make changes. This is the last month until OEP 2024. During this time you can: • Switch from one Medicare Advantage plan to another • Drop Medicare Advantage and return to Original (Parts A and B) Medicare Yes, you can drop a Medicare Advantage plan and return to Original Medicare, but don’t count on a Medigap (aka Supplement) plan if that is your intention. Remember you are subject to medical underwriting and Supplement carriers can choose not to enroll you. What if you need to make changes to your plan outside of these times? In certain situations, such as a move or loss of coverage, you might qualify for a Special Enrollment Period (SEP). During this time, you can make changes to your Medicare plan(s). For example, moving from one geographic area to another might qualify you for a SEP, if your network is not available at your new home. During your SEP, you can switch to a new Medicare Advantage plan or Part D plan or return to Original Medicare without penalty. In some situations, you might also be able to enroll in a Medigap plan without the requirement for medical underwriting (called guaranteed issue rights). If you believe you might qualify for a Special Enrollment Period or are in the Open Enrollment Period, please reach out to me for a no obligation consultation. I can help answer all your questions. • Add a Part D prescription plan • Drop a Part D prescription plan

ROBERT HUBSMITH, CLTC Financial Services Professional

I help my clients (at no cost to them) get the best Medicare insurance plan to fit their unique health care needs and at the best price. Navigating the Medicare system can be confus ing and overwhelming, whether you are currently enrolled in Medicare or are newly eligible, so let me answer your ques tions, create a knowledge-based foundation, analyze options and ultimately guide you to an informed decision.

www.RHMedicareFactor.com

(201) 704-7872 rhubsmith@thejgagency.com

Robert Hubsmith, CLTC PINNACLE FINANCIAL SERVICES www.TheRHMedicareFactor.com

Rob Hubsmith is a licensed and trained independent insurance agent with over 30 years in the financial services industry. I am certified with many top Medicare Advantage, Prescription Drug and Medicare Supplement insurance plan carriers. I represent most major companies with a Medicare contract and am qualified to answer any questions you may have.

MARCH 2023 | SOMA LIVING 25

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