You will have the option to change your plan during the Medicare Annual Election Period (AEP) that runs from October 15 through December 7 each year.
If you receive notice that your plan is being canceled you will have the option to change your plan during the Medicare Annual Election Period (AEP) that runs from October 15 through December 7 each year. You will also have a Special Enrollment Period for individuals whose plan will not be offered the following year. The time frame to make changes beyond the Annual Election Period (AEP) may be dependent on the type of plan being terminated.
In some cases you may be reassigned automatically if your current plan is terminating; it is important to closely review the new plan as there are likely changes that can impact you.
There are a lot of factors to consider and plan options to compare when making changes to your Medicare plan selections. Working with an experienced licensed agent can provide peace of mind when going through this process. Contact us for guidance and support when making your Medicare decisions.
Keep in mind, if you qualify for extra help paying for your Medicare prescription drug plan, you have the right to switch drug plans once per quarter for the first three quarters of the year, and during AEP each year. You can enroll in any drug plan that you want, but be aware that many plans will require you to pay a premium, even if you qualify for the extra help. In order to avoid paying a premium, you should enroll in a drug plan in your area that is offered at no premium to people receiving extra help.