Life changes, and your health coverage needs can change with it. You may be able to change your Medicare coverage after you enroll, but the options available depend on your circumstances and the time of year.
Medicare Annual Enrollment Period
Each year, Medicare’s Annual Enrollment Period runs from October 15 through December 7. During this time, eligible individuals can generally join, switch, or leave Medicare Advantage and Part D prescription drug plans.
Changes made during this period generally take effect January 1.
Medicare Advantage Open Enrollment Period
From January 1 through March 31, people already enrolled in a Medicare Advantage plan have an opportunity to make certain changes.
Depending on their situation, they may switch to another Medicare Advantage plan or return to Original Medicare and join a separate Part D plan. This period has specific rules and generally allows one change.
Special Enrollment Periods
Certain life events may give you an opportunity to change coverage outside the usual annual periods. Examples can include moving out of your plan’s service area or losing certain other coverage.
The changes available and the deadlines depend on the qualifying event. www.medicare.gov
What about Medicare Supplement plans?
Medicare Supplement enrollment follows different rules. If you want to purchase or change a policy, your options may depend on the timing, state rules, your health, and whether you have a guaranteed issue right.
Do not cancel existing coverage until you understand your new coverage and have confirmed that it is in place.
Not sure whether you can make a change? Contact our office at (210) 744-0553 to discuss your situation and available enrollment opportunities.