Affects Part D prescription plans and Advantage plans
Medicare open enrollment starts October 15 and ends December 7th for those who want to explore different Advantage plans or change a Part D prescription plan. This does not affect your regular Part A or B and if you have a supplemental, often called a medigap plan, it will usually go by your anniversary date.
If you fit the profile of someone on Medicare, your mailbox and phone are full of marketing messages about Advantage plans. Why?
Advantage plans are a special kind of private insurance managed care. Medicare pays the insurer a contracted amount to take over the management of your healthcare payments.
Most Advantage plans are an enticing mix of marketing messages about lower costs, free money, extra services that Medicare does not provide. Also in the mix are the restrictions and the details about your annual out-of-pocket max.
I personally chose a supplemental Plan G, which is also private insurance. Your choice has to be right for you and it will depend on your own situation. Just know what you’re getting and how much it will cost.