Yes, you can change your Medicare plan outside the Annual Enrollment Period (AEP). However, the changes you can make and the timing of those changes may vary depending on your situation.
Here are some potential options for making changes to your Medicare plan outside of AEP.
Special Enrollment Period (SEP)
Suppose you have a qualifying life event, such as moving to a new area, losing other coverage, or getting married. In that case, you may be eligible for a SEP. Qualifying for this period will ensure you enroll in the coverage you need without paying a late enrollment penalty.
Medicare Advantage Open Enrollment Period
If you are currently enrolled in a Medicare Advantage plan and want to switch back to Original Medicare, you can do so during this period, which runs from January 1 to March 31 each year. You can also switch to a different Medicare Advantage plan. However, keep in mind that you can only make one change during this period.
What If I Never Enrolled in Medicare?
Suppose you never enrolled in Medicare and are wondering when you should begin the enrollment process. In that case, you’ll need to assess your specific situation. For example, you can enroll when you first become eligible during your Initial Enrollment Period (IEP). This period starts three months before your 65th birthday and lasts for seven months. However, if you are past this period, you can instead enroll during the General Enrollment Period (GEP). The GEP starts January 1 and lasts until March 31 of every year. Signing up during this period means your coverage won’t begin until the month after you sign up, but you might have to pay a late enrollment penalty.
If you qualify for a SEP, you can avoid enrolling during the GEP and avoid the late enrollment penalty.
Get the Right People On the Job
When you work with Toni Buffington Medicare Solutions, you work with people you can trust. We take the guesswork out of Medicare enrollment. Call (918) 902-2304 to get started.