Sometimes, even when you think you’ve made the right choice in a Medicare Advantage Plan, you review your coverage and need to make changes. Whether it’s because you’re moving out of your plan’s service area, or you simply want to change coverage or return to Medicare, there are rules and enrollment periods regarding when you can.
Annual Enrollment
Annual Enrollment is the time to make changes to an existing plan. During this time, you can add, drop, or switch without any penalty or restrictions. You can also join or drop a Part D Plan, or switch from one plan to another. All changes you make during this period will become effective on January 1. This period isn’t just for Part C or Part D. All Medicare beneficiaries are allowed to make changes to their coverage during this time. This is the time to look at other options in your area to make sure all of your healthcare needs will be met the following year.
Open Enrollment
The Open Enrollment Period extends from January 1 through March 31. This is the time for you to drop your plan and return to Medicare plus a Part D Plan or change from one Part C Plan to another. All changes made during this period will be effective on the first day of the following month.
Special Enrollment
Special Enrollment Periods were created for people who need to make changes at other times throughout the year. New coverage typically begins the first day of the month after you disenroll from a previous plan. You may switch from your current plan and join a new plan at any time during the year if the new plan has an overall performance rating of 5 stars.
References:
Medicare Advantage Disenrollment:
https://www.medicare.gov/sign-up-change-plans/when-can-i-join-a-health-or-drug-plan/when-can-i-join-a-health-or-drug-plan.html#collapse-3192
5-star enrollment period:
https://www.medicare.gov/sign-up-change-plans/when-can-i-join-a-health-or-drug-plan/five-star-enrollment/5-star-enrollment-period.html
MUC60-2017-BCBS
