How to Adjust Your Medicare Plan

How to Adjust Your Medicare Plan http://learningcenter.statefarm.com/insurance/how-to-adjust-your-medicare-plan/ bb3 Aug 26, 2014

By Staff Writer

During the Annual Election Period (AEP), Medicare-eligible consumers can make a new plan choice. If you want to adjust your Medicare plan, mark your calendar for October 15 through December 7. During this annual election period, you can:

man and woman looking at computer
  • Change from Original Medicare to a Medicare Advantage Plan, and vice versa
  • Switch Medicare Advantage plans
  • Go from a Medicare Advantage Plan that offers drug coverage to one that doesn't, and vice versa
  • Join a Medicare Prescription Drug Plan (PDP)
  • Switch Medicare Prescription Drug Plans
  • Drop Medicare Prescription Drug Plan coverage

What to Consider
Before making changes, understand how some decisions could affect your coverage. For example, if you decide to add a PDP, but your current Medicare Advantage Plan offers drug coverage, you will be dis-enrolled from the Medicare Advantage Prescription Drug Plan and enrolled in Original Medicare.

Because features of Medicare Advantage Prescription Drug Plans and other PDPs vary widely, make sure to review policy details and ask yourself some important questions before making a decision. For example:

  • Are the services I need still covered?
  • Will my current health care provider accept the new coverage?
  • Does the new plan cover  the  prescription drugs I currently take?

Also be alert to scams during open enrollment. You should only be contacted about Medicare options through the mail. To be safe, never share your Medicare ID number or personal information with a solicitor.

Contact your State Farm agent if you're considering changes to your Medicare coverage.

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