Any changes you make during Open Enrollment will take effect on January 1, 2014. The following are some of your options:
- Join a Prescription Drug plan, or drop prescription coverage altogether
- Switch from one Medicare Prescription Drug plan to another
- If you have a Medicare Advantage Plan that does not offer prescription coverage, you can switch to a plan that does. Conversely, you can also switch from a plan that does offer prescription drug coverage to one that does not, if you feel you no longer need it
- If you’re on an Original Medicare plan and would like to switch to a Medicare Advantage plan, you can do so during open enrollment
- You can also drop your Medicare Advantage plan and go back to Original Medicare
- Make a switch from one Medicare Advantage Plan to another
From now until October 15, you should review your current Medicare plan. Think about the past year’s out-of-pocket expenses – did they seem too high? Are you satisfied with the covered services you received? Do you have additional health care needs that aren’t being met, or do you anticipate needing different coverage in the coming year?
After asking yourself these questions, investigate the changes that are coming to your current plan. Medicare should be sending you notices of any coverage changes. If you haven’t received a notice, you can get the information you need at www.medicare.gov or by calling 1-800-MEDICARE. Your plan may be changing so that it meets your needs just fine. However, in many cases you will need to switch to a different plan in order to have adequate insurance coverage.