When and How to Switch Plans
By: Source: AARP.org Date Posted: 2006-10-23 15:25:00-04:00
If you want to switch plans, you simply enroll in the new plan and you will automatically be dropped from your old plan. You are able to switch plans once from November 15 to December 31 each year. Your old coverage ends on December 31, and your new coverage starts January 1.
Every October drug plan sponsors promote their plans for the coming year. Drug plans may change what drugs they cover, the price they charge for a drug, and your share of the cost. Read over the changes made to your plan and compare this coverage with other plans available in your area. Your drug plan sponsor should send you an “Annual Notice of Change” by October 31.
You can get assistance with comparing plans from Medicare contact your State Health Insurance Assistance Program (SHIP).
There are specific situations when you can switch plans at any time of the year (not just from November 15 to December 31). If you are:
- Eligible for “ Extra Help ” and you receive Medicaid.
- Enrolled in a Medicare Savings Program.
- Living in a long-term care facility such as a nursing home.
Helpful Tip:
Beware! If you drop your old plan without enrolling in another plan first, you will lose your coverage!
In addition, if any of the following applies to you, you may change plans once outside of the November 15 to December 31 time period.
- You are eligible for “ Extra Help ” and Medicare selected a plan for you.
- You lose your Medicaid coverage.
- You move out of your plan ’ s service area to permanently reside elsewhere.
- Your plan ’ s contract is terminated or stops service in your area.
- You show Medicare that your plan has not met the terms of its contract.
- You drop your Medicare Advantage plan with drug benefits. In general, you can do this one time from January 1 through March 31 each year by switching to another Medicare Advantage plan with drug benefits or Original Medicare health coverage plus a stand-alone drug plan. Then again, if you are a new Medicare enrollee and age 65 and older, you have 12 months from when you first signed up to switch from a Medicare Advantage plan with drug benefits to Original Medicare plus a stand-alone drug plan.
There are time limits surrounding some of these events. Call Medicare to learn more.
Helpful Tip:
If you switch plans during the year, ask your old plan for a record of your drug purchases including the dollar amount you paid. You may need to give this information to your new plan to show all of your out-of-pocket drug costs for the year.
AARP Resources
AARP on Medicare
AARP offers a wealth of information to help you better understand Medicare.
Let’s Talk About Meds (Adobe Acrobat required)
These tips will help you manage yur medications wisely for good health and safety.
Additional Resources
Medicare
Medicare has a plan finder tool to help you find a drug plan that meets your personal needs. Medicare representatives are also available to help on the telephone at 1-800-633-4227 (TTY 1-877-486-2048)
MyMedicare.gov
Allows you to access your personal information on Medicare benefits and services, including claim status and eligibility for preventive services.
Area Agency on Aging (AAA)
Your AAA provides information and access to programs and services for older people. Visit online or call 1-800-677-1116 to find the AAA in your community.
Additional Related Links
What Is Medicare Drug Coverage?
Do You Need a Medicare Prescription Drug Plan?
How to Compare Medicare Drug Plans
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