You can change your Medicare Advantage Plan now – from January 1 to March 31. Otherwise, you will need special circumstances to qualify for a Special Enrollment Period (SEP). If you do not qualify for SEP and it’s past March 31, you will need to wait until the Annual Election Period from October 15 to December 7.
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Why change your Medicare Advantage (MA) plan?
3 Reasons to Change Your Medicare Advantage Plan
Top 3 reasons why seniors change their Medicare Advantage (MA) Plan:
MA Plan Costs
You may be overpaying because your doctors or prescription drugs are out-of-network. Furthermore, your out-of-pocket limits may also be too high. For example, you have a zero or low monthly premium, but your copayments and other out-of-pocket expenses are too much.
You can now change your MA Plan with a higher monthly premium and a lower annual out-of-pocket limit. As a result, you will spend less per year. Your costs are also related to your coverage.
MA Plan Coverage
If you have a Medicare HMO plan and your doctor is out-of-network, your MA plan does not cover these doctor bills. However, Medicare PPO plans do cover doctors out-of-network at higher costs. To avoid the expense of out-of-network doctors, make sure your doctor is in-network.
For better coverage, you may want to change your MA plan now from HMO to PPO. Drug coverage is another reason to change your MA Plan.
MA Drug Plan Coverage
Some MA Plans have no drug coverage, while other MA plans include drug coverage. If your MA Plan does not include drug coverage, you can change your Medicare Advantage plan now.
Furthermore, your MA Plan with drug coverage may not include all your prescriptions. In this case, we recommend you change your MA plan now, so all your prescription medications are covered.
Last Updated on March 26, 2021 by Brian Kondas