Staying Fit
No, you can’t switch Medicare Part D plans any time you might need to, but you do you have options if you want to choose a different plan.
You can get prescription drug coverage either by enrolling in a stand-alone Medicare Part D plan or from a Medicare Advantage plan that combines medical and drug coverage. Private insurance companies that Medicare regulates offer both types of plans.
Join AARP for $12 for your first year when you sign up for Automatic Renewal. Get instant access to members-only products and hundreds of discounts, a free second membership, and a subscription to AARP The Magazine.
Every year, you have the chance to change Part D plans — or your Medicare Advantage plan if you’re among the more than 2 in 5 Medicare beneficiaries in those plans — during Medicare’s annual open enrollment period, and soon after you have an additional opportunity to quit a Medicare Advantage plan to return to original Medicare and a Part D plan. Plus, you may qualify for more chances to change plans outside those windows.
Changing Part D plans during open enrollment
Oct. 15 to Dec. 7, open enrollment. You can sign up for a Medicare Part D plan or switch from one Part D plan to another during each year’s open enrollment period.
You also can sign up for a Medicare Advantage plan or switch to a different Medicare Advantage plan — with or without drug coverage — during that time. Coverage in your new plan begins Jan. 1.
Even if you’ve been happy with your Part D plan, comparing your options during open enrollment every year is a good idea. Medicare prescription drug plans can change coverage and costs from year to year. Type your zip code, drugs and dosages into the Medicare Plan Finder to find the total cost for every plan available in your area, including premiums and copayments for your specific medications.
Jan. 1 to March 31, Medicare Advantage open enrollment. If you have prescription drug coverage through a Medicare Advantage plan, you have an extra opportunity to switch to another Medicare Advantage plan or change from Medicare Advantage to original Medicare and join a Part D plan during Medicare Advantage open enrollment each year. You can make one change during that period.
Be aware: If you decide to leave a Medicare Advantage plan for original Medicare, you may not have a guaranteed right to buy a Medigap policy to help cover original Medicare’s out-of-pocket costs if more than six months have passed since you signed up for Medicare Part B. Check with your State Health Insurance Assistance Program (SHIP) to find out whether an insurer could reject you or charge you more for preexisting conditions.
More on Medicare
What You Need to Know About Part D Prescription Drug Plans
How to make sure the medicines you take are coveredUnderstanding Medicare’s Options: Parts A, B, C and D
Making sense of the alphabet soup of health care choicesHow to Sign Up: A Guide to Medicare Enrollment
When you can enroll for health coverage, the best ways to do it and how to avoid penalties