It’s not all too uncommon today to hear that someone is unhappy with their current Medicare plan. Lots of issues could arise; from losing your doctor because he no longer takes your current plan to suddenly realizing your coverage isn’t as good as it used to be. Often times people just have no idea if they can switch to a new plan or do they have to wait for their Annual Enrollment period (AEP), otherwise known as Open Enrollment.
First, you must find out which type of plan you currently have. Is it a Medicare Advantage plan or is it a Medicare Supplement plan. Go ahead and grab out your insurance card. Look around on the card for the word “Supplement” or “Advantage”. If you don’t see either, look for the word “HMO” or “PPO”. If it says either of those then you have a Medicare Advantage plan. Another giveaway is if you see your doctors name on the insurance card. If so, you most likely have a Medicare Advantage plan, not a Supplement plan.
If you have a Medicare Advantage Plan, typically you can only leave that plan for another one during the AEP (October 15 – December 7). There are many circumstances where you may be able to leave that plan during the middle or beginning of the year. It’s important to speak to someone like myself to see if you are eligible to qualify to move to another plan. A couple of examples are: You have moved recently. Or you have started your Medicare Advantage plan within the last year and you are not happy. There are many many more reasons.
If you have a Medicare Supplement plan, you are NOT bound to these same guidelines. You may change Medicare Supplement plans during ANY time of the year. Remember, all Medicare Supplement companies are created equal. Meaning, if you currently have a Plan F, switching to another companies plan F will not change any coverage whatsoever. Many clients of mine switch companies because they realize that they could save 20-40% of their monthly premium while keeping the same coverage and same doctors.
Give me a call today and I can go over any questions you may have and see if you are eligible to change plans during any time of the year.
Chaz Mulherin
cell : 321-287-7331
toll free : 800-352-9745
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