Now’s your chance to switch to a different Medicare Advantage Plan

Personal Finance

You also can drop your plan in favor of original Medicare, which consists of Part A (hospital coverage) and Part B (outpatient coverage). This option already was available in the past during a short early-year window.

Also possible until before March 31, but not new: If you missed your initial Medicare enrollment period and don’t qualify for an exclusion, you can sign up now. In this case, coverage won’t start until July 1.

Meanwhile, the current opportunity to change or drop your Advantage Plan comes just a few weeks after the close of Medicare’s fall annual enrollment, when a variety of options were available for those who wanted to make changes to their coverage.

For this current period, however, there are restrictions.

For starters, you can only switch once. This means that once you move to a different Advantage Plan, it’s locked in until the next fall enrollment (unless you meet an exclusion).

“There are no take-backs,” Gavino said.

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