How to Change Medicare Plans
Once you know what you need, changing plans can be easy.
You get your Medicare coverage through either the government (Original Medicare Parts A and B) or through a private Medicare Advantage plan (Part C). Either way, you remain enrolled in Part A and Part B and pay the Part B premium to Medicare. The difference is which entity is administering the benefits.
So you may be changing how you get your coverage. Or you may be switching from one private plan to another. Remember, Medicare prescription drug plans are also private Medicare plans.
Changing How You Get Your Coverage
To leave Original Medicare and enroll in a Medicare Advantage plan, all you need to do is sign up for the new plan. You don’t have to tell Original Medicare about the change. Your Medicare benefits will simply start coming through your new plan.
You can switch from a Medicare Advantage plan to Original Medicare by simply notifying the plan that you want to disenroll. Your coverage will automatically revert to Original Medicare.
If you go back to Original Medicare, you may also want to consider adding a prescription drug plan (Part D) to your coverage. It’s important to note that you cannot be without creditable coverag Prescription drug coverage from a health plan other than a Medicare Part D standalone plan or a Medicare Advantage plan that includes prescription drug coverage and that meets certain Medicare standards. e longer than 63 days without incurring a premium penalty.
Many people also add a Medicare supplement insurance plan to help with some costs that Original Medicare doesn’t cover. Check with your State Health Insurance Assistance Program (SHIP) to learn about plans where you live.
Switching to a Different Private Medicare Plan
To change from one Medicare Advantage plan to another or from one Medicare prescription drug plan to another, you can just sign up for the new plan. Typically, you are automatically disenrolled from your old plan. You may want to notify the old plan about the change, just for good measure. But it’s not required.
What do you want to do next?