Change is a constant, and you may find yourself in a situation where you may need to, or want to change your Medicare Health Plan. Let’s talk about the most common instance of where you might want to make a change, and when you are allowed to make a change.
Supplemental Insurance Programs
If you’ve chosen to pay for a Medicare Supplement, you should know that there are no time restrictions on changing your coverage from one Supplemental program to another Supplemental program. The main restrictions on changing would be that your personal health situation can influence whether or not the insurance carrier that you want to change to will accept covering your health situation. In other words, the insurance company could refuse to accept you for coverage under their program, if you don’t meet their health underwriting standards. Exceptions to this condition might give you a chance, depending on if your state has passed a Birthday Rule law, which allows you to change to another program without health underwriting, during your birthday month. These laws vary from state-to-state, so check with your Prime Planners consultant for specifics in your own state.
Part D Drug and Medicare Advantage Programs
- You Move. The most common change is when you move out of the area that your Part D or Medicare Advantage Program services. You have a 3 month period to enroll and start a new program, which can include up to one month prior to your move, and two months after your move.
- You lose coverage. If you lose coverage in a plan, either a Medicare Health Plan, or an employer plan (yours or your spouse’s), you can choose a plan. You will have a 2 month period to enroll in a plan.
- You want to leave your first Medicare Advantage plan. You can only return to Original Medicare, and disenroll from your Medicare Advantage plan, within the 12 months that you are in a Medicare Advantage plan for the very first time.
- You are on Medicaid, SPAP, Extra-Help, or MSP. You can change once per quarter, for the first three quarters of the year. In the fourth quarter, you will change using the Annual Enrollment Period (AEP)
- You become eligible for Medicare at age 65. You may enroll in a plan 3 months prior to your birth month, your birth month, and 3 months after your birth month, for a total of 7 months of enrollment opportunity.
- You are in a Medicare Advantage plan and it is January 1 through March 31. You may change your plan once during this Medicare Open Enrollment (OEP) period.
There are other times, which help you to change your coverage or plan, under specific circumstances. We’ve listed some of the most common change opportunities above, but speak to your Prime Planners Consultant to find out about specific opportunities to change that apply to you.
