How to Switch Your Medicare Drug Plan?

Changing your Medicare Prescription Drug Coverage can be done every year during Open Enrollment. In 2011 the Open Enrollment Period for Part D is between October 15th and December 7th. Your coverage will begin January 1, 2012.

Do Your Homework Before You Switch!

Changing Plans always sounds like a good idea but do some careful research before switching your prescription drug coverage. These plans are all different and complicated. The Formularies will be different and so will the rules that govern every plan. In addition, if you have had to submit to Step Therapy with one company you may have to submit to it again when you switch companies. Your doctor can request an exception.

Talking to the administrative staff in your primary care doctor's office is often one good way to figure out which insurance companies are the better ones. Some companies seem fabulous from the literature but they are notoriously slow or non-payers. Seasoned medical administrators usually know a lot about all the different companies. Being polite and asking lots of questions might give you some ideas about whether you want to change your Part D coverage to another company or not.

Auntie Lou says, "I've had three husbands and basically you just exchange one set of problems for a different set. Same with insurance companies."

When you switch your Medicare Plan you will automatically be disenrolled from your current plan when the new plan starts. You will not need to call the old plan to tell them that you are switching. The old insurance company will be contacted automatically and disenroll you when the new plan starts so that there is no lapse in coverage.

If you decide to drop the plan and don't want to enroll in another plan you can do this yearly. Simply contact the company and tell them you want to disenroll for the next year. In the future if you change your mind you can re-enroll in a new plan (provided the laws don't change) during the Yearly Open Enrollment Period.