Does Switching Medicare Plans Affect My Coverage?

A look at switching Medicare plans and how this may affect your medical insurance coverage.

With the recent changes in Medicare (and more changes looming on the horizon), many people are wondering what will happen to their coverage if they decide to switch Medicare plans. This guide provides an answer to a few of the most common questions asked.

Does switching Medicare plans affect my coverage?

Yes. At 65, you automatically enroll in Medicare Part B. However, enrolling in Medicare Part A, changing your HMO-coverage to a Medicare compatible health plan, or changing the Medicare prescription drug plan that you subscribe to will affect the coverage that you have. Because there are an exhaustive number of possible coverage combinations, this guide cannot fully explore how you exactly will be affected.

How can I figure out how my coverage will be affected by plan changes?

Make sure that you have up- to- date copies of all of your plans. Medicare Part B is available to everyone, but changes to any other portion of your health insurance should be adequately understood before they are undertaken.

Is MediGap Insurance a plan change?

No, it is insurance you buy when first enrolling in Medicare Part B to cover gaps in the existing insurance.

If I pay my Medicare premiums by Social Security debit, and I change my plan, does the debit change with my plan?

No. You will have to set up a new payment plan every time that you change your Medicare coverage. Granted, most Medicare plans offer similar payment styles, so you should probably be able to acquire the same method of payment that you used with your previous plan. Social Security debit takes about two months to come into affect, at which point, it will take two months of premiums.

Related posts

1. When And How Often Can I Switch My Medicare Drug Plan?
2. When Should I Drop AARP Medigap Insurance?
3. When Do The Medicare Premiums And Co-Insurance Rates Change?
4. What Drugs Do Medicare Part D Plans Cover?
5. What Options Do I have For Paying For My Medicare Drug Plan Premiums?

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