Changing Medicare Plans

Changing a Medicare Plan

Changing a Medicare plan is an important decision.  Plan coverage and costs may change from year to year, and your health care needs could change, too.  So you might want to change a Medicare plan as well. You can do this each year during Medicare Open Enrollment or during a Medicare Special Enrollment Period if you qualify.  Changing a Medicare plan can be a straight forward process but remember to make your selections during the correct selection periods.

The first step is Choosing a Plan.  The next step is changing a Medicare plan at the right time.

When you can change plans

Medicare Open Enrollment happens every year, October 15December 7. It’s similar to the open enrollment you may have experienced with employer coverage. 

You can change your Medicare coverage choices during Medicare Open Enrollment, if you choose to.  Changes you make go into effect on January 1 of the following year.  If you decide to keep your current plan it will renew automatically for the next calendar year.  It’s a good idea to review your coverage annually. Medicare and private Medicare plans may change coverage and costs from year to year.

Medicare Special Enrollment Period

A Special Enrollment Period (SEP) allows you to join, change or drop a Medicare Advantage (Part C) or prescription drug (Part D) plan outside of Medicare Open Enrollment in certain situations, such as when you move. These situations are called a “qualifying events.”  In general, you have 2 full months after the month of a qualifying event to make plan changes.

Medicare Advantage Dis-enrollment Period

The Medicare Advantage Dis-enrollment Period gives you a chance to leave a Medicare Advantage plan and go back to Original Medicare. This time period happens every year, January 1 – February 14. You may use it to change plans only if you have a Medicare Advantage plan.

You may also want to consider adding a Medicare supplement insurance plan to help with some costs that Original Medicare doesn’t pay, like deductibles, co-pays and co-insurance. Note that you may not have a guaranteed right to buy a plan at this time. You could be charged more or denied coverage. Be sure to check the laws in your state.

Contact us today for assistance

By submitting this form and providing this information, you agree that an authorized representative or licensed insurance agent may contact you by phone, e-mail or mail to answer your questions and provide additional information about Medicare Advantage, Part D or Medicare Supplement Insurance plans.