The Medicare and Medicaid system is massive and comes with thousands of regulations, stipulations and requirements. While the system offers untold benefits to many, it also brings with it frustration and confusion for many consumers who are unsure navigate it. Understanding when and how you can make changes to your Medicare plans will help provide peace of mind and reduce stress. Local and state regulations may differ, as do plan coverages and enrollment eligibility requirements, so always check state and federal government resources to verify your options and enrollment requirements.
Instructions
Changing Your Medicare Health Plan
1. Research your options. In most cases, changes to your Medicare plans can only occur once a year. This process is known in Medicare as a lock-in. However, you may make changes to your Medicare plans and options during the annual coordinated election period that dates between November 15 and December 31 of every year. Because new policy coverages or changes begin on January 1, any changes to your plans must be made before this date or you will have to wait for the next election period. You may also switch some options once during the open enrollment period, lasting from January 1 to March 31 every year, but you cannot make any changes to Medicare Part D (prescription drug coverage) during this time.
2. Make any desired changes to your Medicare plan during the annual coordinated election period. You may make as many or as few changes to your Medicare plan as you wish. You can add, drop and switch coverage and even add or drop Medicare Part D (prescription drug coverage).
3. Check your current coverage. During the open enrollment period, you can switch to a different Medicare private health plan with drug coverages or separate drug coverage with your original Medicare if you are currently covered under Medicare-approved private health plans with drug coverage or have independent drug prescriptions plans in conjunction with an original Medicare plan. You may also make changes if you have private Medicare insurance without drug or prescription benefits.
4. Make any changes to Medicare Part D (prescription drug coverage) during the annual coordinated election period to ensure new coverage begins on January 1 of the new year. You may only make changes to this portion of the Medicare plan during this period. Research the guidelines for making changes in order to ensure you receive the most benefits from your choice.
5. Join or change to another private Medicare health plan during the enrollment period, but take care not to dis-enroll from your original plan. Your new plan will supersede the old plan automatically. If you cancel or dis-enroll from your original plan before making a change, you'll have a mess on your hands and may have a gap in coverage. For those enrolling in new plans, coverage takes effect the first of the month following enrollment. For example, if you enroll in Medicare private insurance in April, your coverage will begin on the first of the month after enrollment form is received. However, remember that enrollment during the annual coordinated election period (November 15 through December 31), changes become effective January 1.
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