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Switching Medicare Plans

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Key Takeaways

  • How late can you switch Medicare plans? Changes to the plan must be made during Open Enrollment and a few other specific periods each year.
  • If you’re thinking about signing up for a Medicare Advantage (Part C) plan, you should be aware of the precise window of opportunity.
  • You can put off enrolling in Medicare Part B if your work provides health insurance. There are two methods for removing Part B.

Are you considering changing Medicare plans? or “Can I switch Medicare plans now?” “It depends,” is the response. Every year, it’s a good idea to assess your Medicare coverage to see if the level of convenience, coverage, and cost are all appropriate. Knowing when you can make the desired changes is also important.

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When can you enroll in or change Medicare plans?

Each year, between October 15 and December 7, the Medicare Open Enrollment Period (OEP), also known as the Annual Election Period (AEP), is when beneficiaries can review their coverage and make changes to their Medicare plans. The following is achievable at present time:

  • Switching from Original Medicare Parts A and B to a Part C (private Medicare Advantage) plan
  • Return to Original Medicare after leaving Medicare Advantage
  • Join a Part D prescription medication plan, leave it, or change it.
  • Alternate Medicare Advantage programs

During the Medicare Advantage Open Enrollment Periods, if you’re a Medicare Advantage plan subscriber, there are additional chances to review your insurance (MA OEP). The first is the yearly window that runs from January 1 through March 31 during which anyone with a Medicare Advantage plan may switch plans. The second is an exclusive Medicare Advantage Open Enrollment Period for new beneficiaries who enroll in an MA plan within the first three months of receiving Medicare. A three-month window for switching plans is provided by the MA OEP. You can: During these times

  • Switch to a different Medicare Advantage plan
  • Change to Original Medicare and a standalone Part D plan from a Medicare Advantage plan.

Signing Up for Medicare Part C (Medicare Advantage)

Medicare Advantage plans: Are they worthwhile? Before you decide, you should carefully weigh the advantages and disadvantages. Once you’ve made the decision to enroll in a Medicare Part C plan, note the specific window of opportunity:

  • Initial Enrollment Period (IEP), if new to Medicare, is the seven-month window upon first becoming eligible for Medicare. A Medicare Advantage plan may be chosen after signing up for Parts A and B.
  • If you are already a beneficiary of Medicare Parts A and B, you may move from Original Medicare to a Medicare Advantage plan during the Annual Election/Open Enrollment Period (OEP), which runs from October 15 to December 7 every year.

It’s important to know that if you have Original Medicare and a Medigap/supplemental policy and switch to Medicare Advantage, it’s likely that you won’t be able to get a Medigap policy again when you switch back.

Depending on the enrollment period, the coverage will begin at a later date. If you have any existing coverage, keep it until the Medicare Advantage plan starts to cover you.

Only Enrolling in Medicare Part A (not Part B)

Can you decline Medicare coverage? If you have health insurance through your employer or a partner who is still working, you can delay signing up for Medicare Part B. If Medicare has not yet begun, there are two ways to end Part B:

  • If you received a Medicare card and were automatically enrolled in both Parts A and B, please follow the instructions on the card to mail the card back. If the card is kept, Part B enrollment will continue, and Part B premium payments will be deducted.
  • Please get in touch with Social Security if you are receiving Medicare through them.

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Need Help Sorting Through Your Medicare Options?

What kind of medical care does Medicare not cover? Acupuncture is covered by Medicare? Do I qualify for both Medicaid and Medicare? We’re aware that you might have these and other inquiries. If you require assistance sorting through your options, NCOA has a dependable partner who is dedicated to meeting your Medicare selection needs and priorities without charging you a penny.

Our procedure links you with certified Medicare enrollment specialists who are supported by our decades-long dedication to promoting the well-being of senior citizens. Contact a Medicare Choice Group enrollment specialist right away to find out more.

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