I Want To Change My Medicare Plan
THINGS TO KNOW
Get Good Advice
If you are on a Medicare Advantage (MAPD) or Prescription Drug Plan (PDP), you should always consider having an annual review by an unbiased independent Medicare agent who will provide you ALL your options. Most plans change annually and the formulary changes could cause financial hardship. A drug you need could no longer be part of the formulary or it could be changed to a higher tier level. Always review your plan’s Annual Notice of Change (ANOC) when it comes in the mail. If you don’t understand it or don’t know what to do, call the Medicare Journey number for advice.
Annual Enrollment Period
October 15 – December 7
You have several options for this Enrollment Period, AEP. The effective date of your new plan would be Jan 01
Option 1
Switch from your MAPD plan to another MAPD plan that better suits your needs
Option 2
Drop your MAPD plan and go back to Original Medicare* – you need to enroll in a stand-alone PDP plan
Option 3
Change from Original Medicare to a MA-only or MAPD plan
Option 4
Disenroll from your stand-alone PDP plan (be careful because you could start incurring penalties)
Option 5
Change from one PDP plan to another PDP plan that better suits your needs
Open Enrollment Period
January 1 – March 31
There are basically two options on offer during Open Enrollment Period, OEP and the effective date is the 1st of the following month
Option 1
Switch from your current MAPD plan to another MAPD or MA-only plan
Option 2
Drop your MAPD plan to go back to Original Medicare and sign up for a PDP plan (& Medigap plan*)
Special Enrollment Periods
Many Dates!
There are many Special Enrollment Periods (SEP) and too many to mention here but a SEP will allow you to switch plans outside the AEP/OEP.
Most Common:
- You moved to a new address outside your (MAPD) plan’s service area
- You just moved into, currently live in, or moved out of a skilled nursing facility or long term care hospital
- You are no longer eligible for Medicaid
- You left employer or union coverage
- Your Medicare plan was terminated or didn’t renew with Medicare
- You’re eligible for both Medicare and Medicaid
- You qualify for Extra Help (LIS) for Medicare prescription drug coverage
- You dropped a Medigap policy the first time joining a Medicare Advantage Plan
- You qualify for a ‘Trial Right’ with Medicare Advantage and switching to a Medigap plan (Guaranteed Issue)
1
You moved to a new address outside your (MAPD) plan’s service area
2
You just moved into, currently live in, or moved out of a skilled nursing facility or long term care hospital
3
You are no longer eligible for Medicaid
Have Questions?
Fill out the form on the right and we will get back to you with some straight answers