Medicare Advantage enrollment deadline approaches: Here’s what you need to know

Now is the time to make changes to your Medicare Advantage plan or, if you want to, make a switch into a Medicare Advantage plan. Open enrollment for those types of changes ends March 31.

Medicare Advantage plans have been popular with seniors in recent years, but they operate differently from traditional Medicare, and the plans themselves can be very different depending on which plan you choose.

Medicare Advantage essentially combines part A, which is inpatient coverage, Part B, which is Medicare outpatient coverage and usually covers Part D, which is prescription drugs, said Shawn Stack, policy director for HFMA.

“Putting it all under one cohesive plan, Medicare Advantage also may include additional benefits like vision, dental, hearing and fitness coverage. That’s something to explore through the design of the Medicare Advantage plan that you’re looking at,” Stack said.

There are some drawbacks to Medicare Advantage plans though. Restricted provider networks can be a hurdle for people who travel a lot or are snowbirds. And those who have been on a traditional Medicare plan may find themselves suddenly having to deal with prior authorizations.

“Prior authorization delays, which don’t exist in traditional Medicare, can be a hurdle for Medicare Advantage plans,” Stack said.

More information can be found at Medicare.gov.