So you signed up for a Medicare Advantage plan—and now you wish you’d made a different choice. As with many things in life, there are pros and cons to Medicare Advantage, and those can change depending on your health, financial circumstances, availability of providers, and other factors.

Fortunately, there are certain enrollment periods each year when you can switch from one Medicare Advantage plan to another. You can even go back to original Medicare from an Advantage plan if you prefer. Is there a penalty? What are theenrollment periods? Get the answers you need below.

Changing between Medicare Advantage plans

If you’re generally happy with getting your Medicare benefits through a private insurer—but want different coverage options—you can swap out your plan during one of these specific times of year:

• Oct. 15–Dec. 7: Annual Medicare Open Enrollment Period
• Jan. 1–March 31: Medicare Advantage Open Enrollment Period

Once you choose a new Medicare Advantage plan, you automatically will be disenrolled (dropped) from your previous plan once your new plan’s coverage begins.

Changing from Medicare Advantage to original Medicare

If you decide you would rather get your Medicare benefits directly through the federal government than a private Medicare Advantage plan, you can make that switch during one of three enrollment periods during the year:

• Oct. 15–Dec. 7: Annual Medicare Open Enrollment Period
• Jan. 1–March 31: Medicare Advantage Open Enrollment Period
• Varying dates: Medicare Advantage Special Enrollment Periods (SEPs)

These SEPs are available during times when life takes a turn. For example, you may qualify for an SEP if:

• You moved out of your plan's service area.
• You moved back to the U.S. after living abroad.
• You lose your current health coverage (e.g., Medicaid).
• Your plan stops servicing your area.
• You joined a plan based on incorrect or misleading information.
• A natural disaster or emergency affected your ability to enroll.

If you switch from Medicare Advantage to original Medicare, your new coverage begins on the first day of the month immediately following the date you changed your plan. For example, if you chose your new plan on Jan. 10, your new coverage would start on Feb. 1.

Signing up for the first time

If you are newly eligible for Medicare based on your age (you are turning 65) or a qualified disability, you can select a Medicare Advantage plan during your individualized Initial Enrollment Period (IEP). Your IEP depends on your birthday month and/or whether you have met a 24-month waiting period following a disability determination. Learn more.

Penalties for switching plans

As long as you pay attention to the enrollment periods listed above, you will not incur a penalty for changing Medicare Advantage plans or switching to original Medicare or vice-versa.

But there is one important situation to be aware of: Part D prescription drug coverage. Most Medicare Advantage plans automatically include Part D while original Medicare does not. If you switch from Medicare Advantage to original Medicare and do not choose a Part D plan within 63 days, you may incur a late enrollment penalty and / or higher premiums for it. Learn more about the Part D late enrollment penalty.

Changing your Medicare Advantage plan and its impact on Medigap

Many people who enroll in original Medicare also choose a Medigap plan. Private insurance companies sell these plans, which are supplemental insurance policies designed to help you cover the out-of-pocket costs related to Part A and Part B. These include deductibles, copayments, coinsurance, and more. (You can’t buy a Medigap plan if you’re enrolled in Medicare Advantage).

What if you switch from Medicare Advantage to original Medicare? Can you buy a Medigap plan then? Yes, with caveats.

If you enrolled in a Medicare Advantage plan when you first became eligible for Medicare—and you’re unsatisfied with the plan—you have the right to purchase a Medigap policy within 12 months of switching. If you wait longer, you may have to go through the medical underwriting process, which could significantly increase the cost of your policy.

You also may enroll in Medigap if you move to a new geographic area that doesn’t offer Medicare Advantage plans. In some cases, you might be able to get back a Medigap policy if you had one previously. Otherwise, you will need to buy a new one. The eligibility rules can be a little confusing, so it may help to speak to an expert.

Who can I talk to about Medicare?

There’s a lot to consider when choosing your Medicare coverage—but you don’t have to do it alone.

Call 1-800-MEDICARE (1-800-633-4227) to talk with a customer support representative about your Medicare questions and concerns—or visit the Medicare.gov website to start a live chat. TTY users should call 1-877-486-2048. The Medicare Support Hotline is available 24/7, except for some federal holidays.

Your State Health Insurance Assistance Program (SHIP) can help, too. SHIP counselors provide personalized, qualified, and unbiased Medicare, Medicare Advantage, and Medicaid guidance at no cost to you.

Sources

1. Medicare.gov. Learn How Medigap Works. Found on the internet at https://www.medicare.gov/health-drug-plans/medigap/basics/how-medigap-works

2. Medicare.gov. Avoid late enrollment penalties. Found on the internet at https://www.medicare.gov/basics/costs/medicare-costs/avoid-penalties