Some beneficiaries still have time to switch their Medicare coverage

Even though the annual Medicare enrollment period ended on December 31^st, some Medicare Advantage beneficiaries may still be able to switch their coverage during the current enrollment period which extends until March 31^st. Under certain circumstances, beneficiaries can change their plan by March 31 if they do not think the plan they chose fits their needs.

Of course there are some disadvantages. If, as of December 31 you have prescription drug coverage, you must continue to keep the coverage. If you did not have prescription drug coverage, you cannot add it to your plan.

The main reason why individuals may want to buy supplemental Medicare coverage is because Original Medicare offers limited coverage. Adding a supplemental plan, also add extra benefits, especially for those individuals with disabilities and pre-existing conditions. Medicare Advantage plans are required to cover any individual with pre-existing conditions.

Once the current enrollment is closed on March 31, beneficiaries have limited options to switching their coverage. There are only a few reasons that an individual may be able to change their plan. These specific reasons include:

• Turning 65 after the open enrollment period is closed
• As determined by the Social Security Administration, any individual can join a plan three months before or after their 25^th month of disability
• Permanent home change is grounds for switching plans. If you move out of your plan’s service area, you’re eligible to switch plans.
• If an individual move into or out of a nursing home, they can enroll in a new plan anytime during the specified year.

So if for any reason, you would like to switch your plan to best fit your needs, you still have time. Make sure you call your health insurance provider immediately to get the most out of your insurance.

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Tags: health coverage, health insurance, health plans, Medicare, medicare advantage plans, open enrollment, supplemental medicare plans