Having now learned about the changes and nuances of the new Medicare program, you may now wish to make alterations to your existing coverage. If you are currently insured through standard Medicare, perhaps you now wish to join a Medicare Prescription, Advantage or other Medicare Health Plan. Or, if you are already a member of one of these plans, you may now want to switch plans.
The information below provides a preliminary strategy for joining and switching to new plans, so that you can make the educated choices necessary to drive your coverage in the direction you wish. This section assumes that you already have the Original Medicare Part A and, possibly, Part B. If you have not yet joined Medicare, please see our review of the Original Medicare Plan .
JOINING
Who can join a Medicare Advantage Plan or other Medicare Health Plan?
You can join if …
- you already have Medicare Parts A and B, AND (With a Medicare Cost Plan, you may join with only Part B.)
- you live in the plan’s service area, AND
- you don’t have End-Stage Renal Disease*
*Special rules apply for End-Stage Renal Disease. Please speak with the specific carrier for details.
Who can join the Medicare Prescription Drug Plan?
You can join a plan in your area if…
- you have the Original Medicare Plan, OR
- you have a Medicare Private Fee-for-Service Plan that doesn’t offer drug coverage, OR
- you have a Medicare Cost Plan.
You cannot duplicate coverage. If you have drug coverage under an Advantage Plan, for example, and join the Medicare drug plan simultaneously, one plan will be automatically canceled.
When can I join these plans?
You can join…
- When you initially become eligible for Medicare. See our Medicare section for eligibility information.
- Medicare Advantage and other Health Plans, in certain instances, anytime. If you move, for example, you can join the plan in your new area.
- During the annual General Enrollment Period between January 1 and March 31st each year (starting the year after you first become eligible for Medicare).
How do I join these plans?
Since this is the first year Medicare has offered prescription drug coverage, several special rules apply. To find which plans are available in your area, what each one offers, and how to enroll, please request more information from one of our featured carriers.
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SWITCHING PLANS
When can I switch my plan?
You can switch plans…
- from November 15 to December 31 each year
- if you move
- if you enter a nursing home
- if your plan leaves the Medicare program
How do I switch plans?
You can switch plans by …
- joining another Medicare plan
- writing or calling your current plan
- calling Medicare, 1-800-MEDICARE
After you request a switch, your old plan should write to tell you when your coverage ends. If you don’t hear from them, touch base with them directly to ensure the transfer has gone through.
Medigap policies with prescription drug coverage are no longer available. If you have any questions about a current or future Medigap policy, call your State Health Insurance Assistance Program.
Before making any changes to your existing coverage, contact your current provider or local Social Security office to ensure you are clear on the various rules and requirements of a transfer. There may be conflicts or coverage overlaps with your existing Medigap or employer coverage, so please make sure to resolve any open issues before beginning a new policy. Failure to do so may cause a lapse in coverage and place your insurance in limbo.
Request a free quote from Carriers offering Medicare coverage in your area >>
