Medicare Advantage plans, also known as Medicare Part C, offer an alternative way to receive your Medicare benefits through private insurance companies. These plans often provide additional coverage, such as prescription drugs, dental, vision, and hearing services, beyond what Original Medicare offers. However, circumstances may change, and you might find that your current Medicare Advantage plan no longer meets your needs. In this article, we’ll explore when and how you can change your Medicare Advantage plan to ensure you have the coverage that best suits your health needs and budget.
- Annual Enrollment Period (AEP):
- The most common time to change your Medicare Advantage plan is during the Annual Enrollment Period, which runs from October 15th to December 7th each year. During this period, you can switch from one Medicare Advantage plan to another, or switch from Original Medicare to a Medicare Advantage plan, or vice versa.
- Medicare Advantage Open Enrollment Period (MA OEP):
- Starting in 2019, a new Medicare Advantage Open Enrollment Period runs from January 1st to March 31st each year. During this period, you can switch from one Medicare Advantage plan to another, or switch from a Medicare Advantage plan back to Original Medicare, with or without a Part D prescription drug plan.
- Special Enrollment Periods (SEPs):
- In certain situations, you may be eligible for a Special Enrollment Period that allows you to change your Medicare Advantage plan outside of the Annual Enrollment Period or Medicare Advantage Open Enrollment Period. Examples of qualifying events that may trigger an SEP include moving to a new area that is not in your plan’s service area, losing your current coverage, or becoming eligible for Medicaid.
- Plan Changes:
- When considering changing your Medicare Advantage plan, it’s important to review your current plan’s coverage, costs, and network of providers. Look for changes in premiums, deductibles, copayments, and coverage for services that are important to you. You’ll also want to ensure that your doctors, hospitals, and pharmacies are in the plan’s network.
- How to Change Your Plan:
- To change your Medicare Advantage plan, you can use the Medicare Plan Finder tool on the official Medicare website (medicare.gov) to compare plans available in your area. Once you’ve found a plan that meets your needs, you can enroll in the new plan online, by phone, or by contacting the plan directly. It’s important to complete your enrollment by the deadline to ensure uninterrupted coverage.
Changing your Medicare Advantage plan can be a valuable opportunity to ensure that you have the coverage you need at a price you can afford. By understanding when and how you can change your plan, you can make informed decisions about your healthcare coverage and enjoy peace of mind knowing that you’re getting the most out of your Medicare benefits.