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Saturday, March 2, 2024

If you aren’t thrilled with your Medicare Advantage Plan, now is the time to swap it or drop it

  • The current window to modify your coverage opened on Jan. 1 and runs through March 31.
  • You can make one change during this time, either by switching to another Advantage Plan or dropping it to return to basic Medicare.

Female doctor working with senior patient in a modern office clinic / hospitalmomcilog | E+ | Getty Images

When it comes to Medicare Advantage Plans, they don't have to be as permanent a choice as you might think.

Your 2021 plan, which you either picked or re-enrolled in, can be switched or ditched between Jan. 1 and March 31. That is, you can swap your Advantage Plan for another or drop it and return to basic Medicare (Part A hospital coverage and Part B outpatient coverage).

The most common reasons that beneficiaries make changes include their doctors not being in the plan's network or a medication not being included in their coverage, said Danielle Roberts, co-founder of insurance firm Boomer Benefits.

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