19 FEBRUARY 2024Medicare's Annual Enrollment Period ­ What You Need to Know By Dawn Maroney, President, Markets & CEO of Alignment Health Plan, Alignment HealthWith Medicare's enrollment period deadline of Dec. 7 coming up, be sure to evaluate your Medicare health and drug coverage before time runs out. A little-known secret is that Medicare members who are currently enrolled with a Medicare Advantage plan are automatically disenrolled when they enroll in another plan, so it's wise to check your enrollment status whenever making any changes. All plan updates take effect Jan. 1, 2023. Here are seven tips to help you make the right choice: 1. EVALUATE YOUR CURRENT PLAN. Fully evaluate and understand what's included in your current one before making any changes. Consider the benefits you've been using, what services are lacking, and how much you've been paying. Ask yourself important questions like: Do I have a high monthly premium? Have I been paying out-of-pocket for necessary services that are not included in my plan? Am I happy with my plan's current providers? Understanding how you've been using your current plan in the past year is a good first step. 2. UNDERSTAND ALL OF YOUR OPTIONS. Once you've evaluated your current plan, it's important to know the changes you can make during open enrollment. · Switch from Original Medicare to a Medicare Advantage plan · Change from one Medicare Advantage plan to another · Switch from Medicare Advantage to Original Medicare · Sign up for a Part D prescription drug plan · Change from one Part D prescription plan to another · Cancel your prescription drug coverage Dawn Maroney is president of Markets at Alignment Healthcare and CEO of Alignment Health Plan. Alignment Health is an award-winning Medicare Advantage company that offers HMO and PPO plan options in Arizona, California, Nevada and North Carolina with plans to expand in Texas and Florida in 2023. CXO INSIGHTS
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