How to Switch Medicare Plans

A trusted financial adviser may help in clarifying what Medicare plan is the best choice.

Congress approved three supplemental Medicare plans. Medicare Advantage (Part C) and the prescription drug plans (Part D) are part of Medicare but under the administration of private insurance companies. Medicare supplemental plans A through N (Medsup) are created by Congress but are not part of Medicare. They are also administered through private insurance companies.



As of 2010, there are different rules concerning switching for each plan.

Instructions

Switching to Medicare Advantage

1. Contact your local Medicare insurance agent during the official enrollment period of November 15 through March 31 for Part C, Medicare Advantage.

2. Complete the Medicare Advantage paperwork with your personal information and sign it. No health information is required if you are switching from a Medsup program.

3. Send the completed paperwork to the address on the provided envelope.

4. Cancel your current Medicare supplement provider only after you have been officially accepted into the new program.

Switching the Prescription Drug Program

1. Contact your local Medicare insurance agent during the official enrollment period for Medicare Part D of November 15 through December 31.

2. Complete the paperwork with your personal information and sign it.

3. Send the completed paperwork to the address on the provided envelope.

4. Cancel your current Medicare Prescription Drug Program provider only after you have been officially accepted into the new program.

Switching a Medsup Plan for Another Medsup Plan

1. Contact your local Medicare insurance agent any time during the year.

2. Complete the paperwork with your personal information and sign it. If you have an existing Medsup plan or have had Medicare Advantage for over one year, you will have to provide a medical history. The agent will take care of filing the paperwork.

3. Cancel your current Medicare Medsup provider only after you have been officially accepted into the new program.

Tips & Warnings

• Pay careful attention to calendar dates when planning changes to Medicare policies.

References

• Medicare: Understanding Medicare Enrollment Periods
• Arkansas Department of Human Services: Medicare Protection Toolkit
• Senior Educators Insurance Services: When Can I Apply for Medicare Advantage Plans?

Resources

• Medicare