Right now, through March 31 your can switch your Medicare Advantage plan through an open enrollment period.
Many people have found that in January their current plan has made a change or
changes they are not happy with. Before you make any change, however, here are four things you
- Can I switch back to basic Medicare? You can switch to another Medicare Advantage plan or go
back to Medicare parts A & B. Remember if you drop an advantage plan for parts A & B you also need to choose a part D plan.
- What if I made a mistake or don’t like the change I made? Be careful, once you make a change you
are locked in for the remainder of the year and can’t change again until the next open enrollment.
- Can I change my part D prescription plan? No, once you made your selection in the fall open
enrollment you can not change.
- What should I be aware of? If you go back to part A & B you may not qualify for a Medicare
supplement or “Medigap” plan. You may need to go through underwriting and potentially be
declined. If you missed the initial enrollment and do not qualify for an exception, you can still enroll
but your coverage does not begin until July 1.
Many people consider making changes to their Medicare plans but beware of the pitfalls. It may be
best to speak to a Medicare Specialist or your Financial Advisor. Making the right choices can
certainly help in your financial well-being.
Rees Bridges brings a unique value to the IFW as both a highly accomplished creative professional and a successful financial services executive to serve in his role as Senior VP, Marketing & Communications.
Over the last decade Rees has served as the lead marketing & communications professional for a Fortune 500 Financial Services firm. He oversaw all advisor marketing strategies, client communications, and the entire firms branding and marketing initiatives.
Rees continues to pursue his passions as a creative professional & musician for over 30 years, with an impressive profile and reputation as a designer, performer, teacher, and studio musician. Here is a little secret: He serves in the role as an international clinician for Mapex drums, Paiste Cymbals and held the record for world’s fastest drummer between 2006 and 2007.
Rees grew up in London, England and currently resides in Miami, Florida. When not at work, he enjoys spending time with family and friends, traveling, and indulging in his passions for music and creative pursuits.