Changes to your Medicare plans should be made within the specified periods, depending on the type of policy you have. For the Medicare Advantage plan and Medicare prescription drug plans, you typically have to wait for the Annual Open Enrollment Period (AEP) before you can change, enroll, or disenroll from the plan you have.
- For Enrollments.
Enrolling in a Medicare Advantage plan can give you financial security. To be eligible, you must be around age 65 or the age when you qualify for Medicare Part A or Part B. In addition to that, you must live within your plan’s service area.
- For Changes.
During the AEP, you can make changes to your current plan. You can disenroll from your Medicare Advantage Plan and return to the Original Medicare coverage or vice versa. You can also opt-in or opt-out of Medicare prescription drug plans. You must apply for these changes during the Annual Open Enrollment Program.
- Special Enrollment Period.
Sometimes, unexpected changes in your life may require you to change your plans and insurance services in North Carolina. These life changes may include:
- Moving outside of your plan’s service area.
- Moving to a skilled nursing facility or long-term care hospital.
- Receiving both Medicare and Medicaid benefits.
For changes brought about due to these reasons, you don’t have to wait for the AEP. You can apply for changes during the Special Enrollment Period.
Exemplar Insurance Associates, Inc. and all of our exemplar insurance associates in High Point, North Carolina can help you choose the best Medicare plan. Give us a call if you have questions.