Not liking your Medicare selection? You can change it! Since Medicare functions more like traditional health insurance and less like a government service like CHIP or Medicaid, you have a few options when it comes to making adjustments to your plan.
Most changes to your Medicare enrollment need to happen during one of the two open enrollment periods of the year. Each of the two open enrollment periods for Medicare allows you to make different types of changes.
It’s important to understand how Medicare’s two yearly enrollment periods differ if you want to make sure you are getting the most out of your plan.
Additionally, new Medicare enrollees have the option to change certain parts of their coverage within 3 months of enrolling in the program.
Each year, you may make some adjustments during the general enrollment period from January 1st to March 31st, such as:
· Switching Medicare Advantage plans.
· Switching from Medicare Advantage to Original Medicare.
· Adding a Medicare prescription drug plan to your Medicare Advantage plan.
You can switch your plan during the open enrollment period between October 15th and December 7th if you want to:
· Change your Original Medicare to a Medicare Advantage plan.
· Join or switch a Medicare prescription drug plan if enrolled in Original Medicare.
You may also be able to switch plans if you move. Medicare Advantage plans are location-based. If you move to a new state, you will be able to switch your plan to one for the area.