If you have already navigated the sometimes difficult process of enrolling in Medicare, you may find yourself looking to change Medicare Advantage Plans to better match the changing medical needs within your life. Medicare Advantage Plans can be changed during the Annual Enrollment Period which is between October 15th and December 7th. Additionally, beneficiaries of a Medicare Advantage Plan can also change plans during the Open Enrollment Period which starts January 1st and goes through March 31st. It is important to understand the enrollment periods and deadlines for each aspect of Medicare. If you have a Medicare Advantage Plan and want to switch, you have an Open Enrollment Period to do so during the beginning of the year. The Robert J Stillwell Agency has outlined the windows during which individuals can change Medicare Advantage Plans as well as the options which they have available to them.
When is the Medicare Advantage Enrollment Periods?
The Medicare Advantage Open Enrollment period is the first 3 months of the year, January 1st – March 31st. This open enrollment period only applies if you are already enrolled in a Medicare Advantage Plan. Individuals may also make a change to their Medicare Advantage Plan if it is within the first three (3) months the recipient has Medicare. During the Open Enrollment Period only those who already have Medicare Advantage Plans are able to change plans, however; during the Annual Enrollment Period, both new Medicare Advantage Plan sign ups and Medicare Advantage Plan changes can be made. The Annual Enrollment Period occurs from October 15th – December 7th.
What Changes Can Be Made During Medicare Advantage Annual Enrollment Period?
The following changes can be made during the Annual Enrollment Period:
- Join a Medicare Advantage plan (Part C) with or without built-in drug coverage. Note that you may be charged a penalty if you do not currently have other creditable drug coverage.
- Switch from your current Medicare Advantage plan to another Medicare Advantage plan with or without built-in drug coverage.
- Drop your Medicare Advantage plan and go back to Original Medicare.
- Join a stand-alone Medicare prescription drug plan if you go back to Original Medicare.
- Drop Medicare prescription drug coverage completely. Note that you may be charged a penalty if you decide you want drug coverage again later.
- Make no changes and your current coverage will renew as is.
If you want to make changes to your Medicare Advantage Plan during the upcoming enrollment period, contact a Medicare Advantage Provider to discuss the options which are available to you.
What Changes Can Be Made During the Medicare Advantage Open Enrollment Period?
According to Medicare.gov, there are three changes which can be made to Medicare Advantage Plans during the Medicare Advantage Open Enrollment Period.
- Switch to another Medicare Advantage Plan with or without drug coverage
- Drop your Medicare Advantage plan and go back to Original Medicare
- Join a Medicare drug plan
If you want to make changes to your Medicare Advantage Plan during the upcoming enrollment period, contact a Medicare Advantage Provider to discuss the options which are available to you.
When Does Medicare Advantage Plan Coverage Start?
When you enroll in a Medicare Advantage Plan, or change Medicare Advantage Plans, coverage begins the first of the month, the month after the plan gets your request. Note during the Annual Enrollment Period, your coverage would start January 1st.
There are a number of reasons why you may wish to make a change to your Medicare Advantage Plan and the Robert J Stillwell Agency is here to provide you with any assistance you may need along the way. Keep in mind, the Open Enrollment period for individuals who already have a Medicare Advantage Plan is January 1st – March 30th of each year. This is the time period which recipients are able to change their Medicare Advantage plan should they choose to.