Change Medicare plans during Annual Election Period
If you want to change Medicare Advantage or Medicare Part D Prescription Drug Plans , the best time to do so is during the Annual Election Period (also called Open Enrollment Period for Medicare Advantage and Medicare prescription drug coverage), which runs from October 15 to December 7 each year. During that period, you can:
Change Medicare plans during Medicare Advantage Open Enrollment Period
If you’re enrolled in Medicare Advantage and want to switch back to Original Medicare, Part A and Part B, you can do so during the Medicare Advantage Open Enrollment Period (OEP), which runs from January 1-March 31 each year.
Change Medicare plans during Special Election Period
Medicare has certain provisions to help you deal with unexpected happenings. If you go through certain special circumstances, you may be able to change Medicare plans during Special Election Periods. These events may include, but aren’t limited to:
How to change Medicare plans
Be aware that if you want to disenroll from a Medicare Advantage plan and don’t want to enroll in another Medicare Advantage plan, you have to notify your plan in writing.
How many Medicare Part D plans are there in 2020?
There are 40 to 50 Medicare Part D plans available in each state in 2020. Narrowing so many choices down to your top contenders can be time-consuming. Medicare’s online plan finder tool makes plan comparison much easier. When you’re searching for a new plan, consider these factors:
How to change Medicare Advantage plan?
If you have a Medicare Advantage plan that doesn’t include drug coverage and you also have a Part D plan, you can change it during the Medicare Advantage open enrollment period, which runs from January 1 to March 31 each year. If you choose this route, you must do one of the following: 1 Change your Medicare Advantage plan to one that includes drug coverage (about 90 percent of them do). 2 Switch from Medicare Advantage back to Original Medicare, then purchase a standalone Part D plan.
How many stars are there for Medicare Advantage?
Medicare Part D plans, along with Medicare Advantage plans and Medicare Cost plans, are rated on a scale of 1 to 5 stars based on quality and performance. A 5-star rating is the highest. If you want to switch to a 5-star plan, you can do so one time between December 8 and November 30 of the following year.
When does SEP end?
These circumstances include: If you move to an area where your current Part D plan isn’t available If you notify your current plan before you move, your SEP begins the month before you move and ends two full months after you move.
Can you switch Part D plans?
The good news is that you can switch plans. The bad news is that you can switch only at certain times of the year. This means that you need to be ready. Read what follows for some solid advice and simple tips on changing your Part D plan.
When is the annual election period?
Annual Election Period. From October 15 to December 7 each year is the Annual Election Period. This period is also referred to as the Annual Enrollment Period. During this time, you can elect to make changes to your Medicare coverage. You can switch Medicare Advantage plans, switch Part D plans, drop Original Medicare and enroll in ...
When does Medicare open enrollment end?
Any changes that you make will take effect on January 1 of the following year. Medicare Advantage Open Enrollment Period. This open enrollment period applies to recipients who are currently using a Medicare Advantage plan. This period lasts from January 1 to March 31 each year, and during this time, you can make one change to your healthcare ...
When does Medicare kick in?
If you make a change during the Medicare Advantage Open Enrollment Period, your new Medicare benefits will kick in on the first day of the month following your enrollment. For example, if you make a change to your Medicare Advantage plan at any point during the month of January, your new coverage will take effect on February 1.
