A new year means a new Nevada Medicare Open Enrollment Period, which is the perfect time for eligible enrollees to change or update their coverage options. The Medicare Open Enrollment Period (OEP) runs between January 1 through March 31. And if you want to be prepared for Open Enrollment, here’s what you need to know.
Who Is Eligible for Medicare OEP?
The Nevada Medicare Open Enrollment Period is available for anyone currently enrolled in a Medicare Advantage (MA) or Medicare Advantage Part D (MAPD) plan. This is the time you can alter or change your coverage options.
Those enrolled in only Original Medicare are not eligible for the OEP. If you currently have only Original Medicare, the only time you can change your coverage is during the Annual Enrollment Period (AEP), which lasts between October 15 through December 7 and is different from the Nevada Medicare Open Enrollment Period.
What Changes Can You Make During the Nevada Medicare Open Enrollment Period?
There are three major changes you can make to your Medicare Advantage plan during Open Enrollment:
- Switch from one Medicare Advantage or Part D plan to another Medicare Advantage or Part D plan
- Disenroll from an MAPD plan and return to Original Medicare
- Enroll in a standalone Part D prescription drug plan (if returning to Original Medicare)
The Nevada Medicare Open Enrollment Period is not a time you can sign up for a Medicare Advantage plan if you’re currently enrolled in only Original Medicare.
Important OEP Considerations
Before you make any changes during the Nevada Medicare Open Enrollment Period, there are a few important things you should consider:
- If you’re returning to Original Medicare and want to enroll in a Medicare Supplement (Medigap) plan, you’ll typically need to undergo medical underwriting. They’ll ask certain health questions and coverage may be denied if underwriting isn’t passed.
- OEP is especially useful for those who missed the Annual Enrollment Period (AEP). If you chose the wrong plan or found that certain doctors or medication aren’t covered, this is a great time to change your coverage options.
- Once the OEP Special Enrollment Period (SEP) is used, you can’t use it again until the next calendar year.
Since the Nevada Medicare Open Enrollment Period is such an important time for anyone on Medicare, it’s a good idea to work with an experienced agent to find the right coverage options for your needs. Contact us at Health Benefits Associates to meet with a local advisor and discuss your options. It’s the best way to ensure you get the right Medicare plan to suit your unique needs. Call us today at 775-828-1216 to schedule an appointment.
