Home Articles Medicare Advantage Open Enrollment Period: Can I still change my Medicare coverage?

Medicare Advantage Open Enrollment Period: Can I still change my Medicare coverage?

You can switch from one Medicare Advantage plan to another Medicare Advantage plan.

Medicare Advantage plans change every year. If you either missed the Annual Enrollment period in the fall or you switched plans and are unhappy, this period gives you a chance to change your plan so you are not stuck in one that does not work for you for the rest of the year. 

Common changes to Medicare Advantage plans include the doctors you want not being in the network, the out-of-pocket costs increasing, or new prescriptions not being covered by the plan you are on. 

Switching from one Medicare Advantage plan to another can fix all of these issues above as long as you carefully research the new plan you join. 

You can work with a broker, who represents multiple Medicare Advantage plans and will be able to easily match you. Cardinal offers this service. 

You can switch from a Medicare Advantage plan back to Original Medicare.

If you are on a Medicare Advantage plan and realize you want to go back to Original Medicare (Parts A & B), you can do this during the Medicare Advantage Open Enrollment period.

Many people switch back to Original Medicare because they want the freedom to go to any doctor or hospital they choose, they do not want networks anymore.

While this option is the more expensive one, since you will also want to purchase a Medicare Supplement,  the freedom it provides is worth it to many beneficiaires. 

If you switch back to Original Medicare, you are also going to need to sign up for a Part D prescription drug plan. Drug coverage is included in Medicare Advantage plans, but it has to be bought separately if on Original Medicare.  

For both the options above, your new coverage will begin the first day of the month after your new plan gets your request for coverage. 

You cannot switch from Original Medicare to a Medicare Advantage plan.

If you are on Original Medicare, you are not allowed to switch to a Medicare Advantage plan during the Medicare Advantage Open Enrollment period. 

The only time you can do this is during the Medicare Annual Enrollment period, which runs from October 15th – December 7th every year. 

While you are not allowed to enroll in a Medicare Advantage plan during this time, if you are on Original Medicare and unhappy with your coverage, you can change your Medicare Supplement. 

You actually can change your Medicare Supplement 365 days a year, there is no period you have to wait for. 

Medicare Supplements are standardized, meaning if you have a Plan G with one company, a Plan G from another company offers the exact same benefits. The only difference between the two companies is the price they charge.

While you will have to answer some health questions to switch, working with a broker will allow you to understand what companies you qualify for before applying. 

We recommend our clients look into changing their Medicare Supplement every 2 years. You can save $1,000s over your lifetime by just switching to a lower priced company every few years, and you get to keep the exact same coverage! 

You cannot switch your Part D Prescription Drug Plan. 

If you are on Original Medicare with a Part D plan, you cannot change your Part D plan during the Medicare Advantage Open Enrollment period.

The only time you can switch your Part D coverage is during the Medicare Annual Enrollment period in the fall. 

Like we mentioned above, the one exception to this rule is if you use this period to switch from a Medicare Advantage plan back to Original Medicare. You are then allowed to sign up for a Part D plan since you lost your drug coverage. 

Cardinal is here to help navigate you through all the Medicare periods and make sure you have the best coverage. We work mainly over the phone so that we can help clients all across the United States. Give us a call today! 


Listen To Finishing Well on Truth

Newest Live Episodes of Finishing Well are on The Truth Network

Finishing Well
Finishing Wellhttps://www.cardinalguide.com/finishing-well/
Retirement planning involves a lot more than just managing your money. This show is the complete guide to planning for and living in retirement, helping families finish well. Host Hans Scheil will discuss a new topic every week ranging from Social Security and Medicare to IRAs and taxes. Follow along each week by downloading the corresponding chapters below for free! New episodes air: Finishing Well Schedule on Truth Network
- Advertisment -

Recent Posts

Exposing Our Blind Spots

When you read your Bible, could you be wearing cultural blinders and not even know it? Today on Discover the Word, the team, and...

Jimmy And The Road Hog

Christian Car Guy Theater 4th Episode

03.01.21 Is America Getting Gayer?

The Line of Fire Radio Broadcast for 03/01/21.

The Future of NC Schools

Terry Stoops on Family Policy Matters

Crucial Truths, Rarely Understood, Part 1

The King's Arrival: A Study of Matthew 1‑7: A Signature Series

STS Study: Crucial Truths, Rarely Understood

The King's Arrival: A Study of Matthew 1‑7: A Signature Series

Misreading Scripture With Western Eyes (Part 1) on Discover the Word

Have you ever been misunderstood? Whether it’s a text message or face-to-face conversation, it isn’t uncommon to mistake someone’s intentions based on our own...

Jealousy

Others’ success should be cause for celebration. A jealous spirit, though, may incline us to hope for the worst rather than wish for their best. Hear about the destructive consequences of unchecked jealousy, on Truth For Life with Alistair Begg. Listen..

Why Does God Allow Temptation in the Life of the Believer?: Understanding Temptation

Drivers have told their car insurance companies some doozies. “Coming home I drove into the wrong house and collided with a tree I don't...
%d bloggers like this: