Medicare Advantage Open Enrollment Begins January 1

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Do Not Miss Your Chance to Change Medicare Advantage Plans!

If you have a Medicare Advantage Plan, you have until March 31, 2023, to make changes to your plan. People who have their Medicare benefits through a Medicare Advantage Plan can make a one-time plan change from January 1 through March 31.

People who are new to Medicare and choose to get their Medicare benefits from a Medicare Advantage Plan can also access this enrollment period during the first three months after enrolling in Medicare Part A and Part B.

This enrollment period gives people with a Medicare Advantage Plan a second chance to decide if their Medicare Advantage plan is right for them.

Medicare Advantage Open Enrollment timeline

You can:

  1. Switch to another Medicare Advantage Plan (with or without drug coverage). Do not disenroll from your current plan. Enrolling in a new plan will trigger a disenrollment in the current plan.
  2. Disenroll from your Medicare Advantage Plan and return to Original Medicare

You can’t:

  1. Switch from Original Medicare to a Medicare Advantage Plan
  2. Join a stand-alone Medicare Part D Prescription Drug Plan
  3. Switch from one stand-alone Medicare Part D Prescription Drug Plan to another

To learn more, call the Senior LinkAge Line® at 800-333-2433. The Senior LinkAge Line is a free, statewide service of the Minnesota Board on Aging in partnership with Minnesota’s Area Agencies on Aging. The Senior LinkAge Line is Minnesota’s federally designated State Health Insurance Assistance Program (SHIP) and the place to call for questions and information on Medicare and much more.

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Coming Soon – Medicare Open Enrollment begins October 15

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Before you know it, Medicare Open Enrollment will soon be here. Each year, from October 15 through December 7, people on Medicare can reevaluate their coverage for the coming year. If you have a Medicare Advantage or a Medicare Part D plan, it is important to watch your mail in September for an Annual Notice of Change. This notice will show you changes that will be made to your plan for the next year.

Because plans can change from year to year, it is important to take the time to do your research. There are important things to consider when reviewing your coverage. Find out:

  • Is your plan still available?
  • Are your medical providers/doctors still in the plan’s network?
  • Will you be able to use your preferred pharmacy?
  • Are your medications still covered and/or has the cost increased?
  • Did the premium(s) increase?
  • What will you pay in other out-of-pocket costs?
  • Do you plan to travel?

To receive non-biased help with Medicare, call the Senior Linkage Line® at 800-333-2433. The Senior LinkAge Line is a free statewide service of the Minnesota Board on Aging in partnership with Minnesota’s area agencies on aging. It is Minnesota’s federally designated State Health Insurance Assistance Program or SHIP. Trained specialists are available Monday-Friday from 8:00 A.M. to 4:30 P.M. to help answer your questions and research plan options.

Before you call, get prepared by:

  • Creating an account at Medicare.gov
  • Having your personal information ready (full name, date of birth, ZIP Code, Medicare number, Part A and B enrollment dates)
  • Gathering your medication or prescription drug list

Remember, Medicare Open Enrollment happens only once a year. Review your plan and compare it with others to ensure you’ve selected the plan that is best for you.

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Historical Medicare Premium Increase in 2022

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In 2022, the Medicare Part B standard premium will increase from $148.50 to $170.10. This $21.60 increase (14.5%) is the largest since the Medicare program began in 1965 and much higher than was originally expected. There are many reasons for the higher-than-expected increase:

  1. A rise in health care costs
  2. An increased use of health care
  3. Congress limited the increase in the 2021 premium
  4. The FDA approved a new medication (Aduhelm) to treat Alzheimer’s disease.

People on Social Security will receive a 5.9% Cost of Living Adjustment (COLA) increase in 2022. This is an average of $92/month per person and means despite the large increase in the Medicare premium; most people will see a net increase in their Social Security check.

People who do not see an increase may be protected by Social Security’s Hold Harmless Rule. This rule protects people who receive Social Security benefits from paying more in Medicare Part B premiums than they receive in their COLA increase. The hold harmless provision does not apply to those who:

  1. Enroll in Medicare Part B for the first time in 2022
    1. You must receive Social Security benefits or be entitled to Social Security benefits for November and December of 2021 and have Medicare premiums for December of 2021 and January of 2022 deducted from your benefit.
  2. Are on Medicare but don’t receive a Social Security benefit
  3. Have higher incomes
    1. Individuals with income above $91,000
    2. Couples who file a joint return with income above $182,000

To learn more about Medicare, call the Senior LinkAge Line® at 800-333-2433. The Senior LinkAge Line is a free, statewide service of the Minnesota Board on Aging in partnership with Minnesota’s Area Agencies on Aging. The Senior LinkAge Line is Minnesota’s federally designated State Health Insurance Assistance Program (SHIP) and the place to call for questions and information on Medicare and much more.

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The End Is Near – Review Your Medicare Plan Options by December 7

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The annual Medicare Open Enrollment Period ends December 7. If you are on Medicare, it’s important that you review your plan options each year to:

  • Save money
  • Get the benefits you want
  • Verify your health care providers are in the plan’s network
  • Get the medications you need

Unfortunately, only about 30% of people on Medicare review their plans to see if they need to make a change. If you don’t, it could lead to some unwelcome surprises for you in January. You could discover that your health care providers are no longer in the plan’s network, or that the cost of your premium or medication has gone up, or that some of the benefits you enjoy are no longer available.

People often take the time to compare the prices of things they plan to purchase, like Christmas presents or groceries, but then fail to compare the cost and value one of the most expensive things in their budget, their health insurance. Don’t miss the opportunity to make sure your current coverage is your best option for you for the coming year.

If you have a Medicare Advantage Plan on January 1 of 2022, you will get a second chance to change plans from January 1 to March 31. During this period, you can change to another Medicare Advantage Plan or return to Original Medicare.

If you need help comparing plan options, call the Senior LinkAge Line® at 800-333-2433. The Senior LinkAge Line is a free, statewide service of the Minnesota Board on Aging in partnership with Minnesota’s Area Agencies on Aging. The Senior LinkAge Line is Minnesota’s federally designated State Health Insurance Assistance Program (SHIP) and the place to call for questions and information on Medicare and much more.

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