Welcome to Medicare School Daily, where we help you understand Medicare, save money,
avoid mistakes, and above all else, get the most out of your Medicare benefits. Now today's
topic is, do I need to change Medicare plans when I move? Well, the answer is you may or
you may not. It just depends on how you have chosen to use your Medicare benefits. All
right? So the plans that you're on will determine whether you're going to have to change those
plans. And so most of you know that Medicare has four parts to it, right? A, B, C, and
D, and so depending on how you're using your Medicare coverage will determine the answer
to the question. So if you have made the decision to stay in original Medicare A and B, this
is for your inpatient and outpatient care. So if you're going to the doctor at a hospital
and you're always pulling out that red, white and blue card, will those benefits change?
And the answer is no. So your original Medicare A and B will have no changes whatsoever. There's
no change in cost. There's no change in coverage. It's all the same. So that same A and B card
that's taken care of you now when you move is going to be the same A and B card. But
I would encourage you to do this. Be sure to call a local Social Security office and
update and let them know what your new address is. All right? As well as most of are paying
for your Part B through your Social Security check, but some of you are paying through
a bank draft. So if you actually move and you change banks, be sure to let them know
for them to be able to withdraw those Part B premiums out of a bank. You want to be sure
that you update your bank records with them. But as far as the change of the coverage,
the cost, there's no change whatsoever with Medicare A and B. Now most of you that have
chosen to make the decision to stay in original Medicare A and B, have bought a supplemental
plan. These are the plans that have the letters, maybe an F plan or a G plan or an N plan.
And remember these plans when you bought that, it was actually written for life. So it is
a what we call total portability of the policy, totally portable. You can take that policy
anywhere in America or in the American territories. And so it's a portable policy, so you take
it with you. And the only thing that can happen because the coverage itself cannot change.
But if you're moving to an area where supplemental plans are higher, higher premiums, then the
insurance company does have a right to rerate you. Now, we've had clients move all over
the country. So when they rerate you, it's typically pretty minimal, but they do have
the right to do that. So if you move somewhere where it's higher, you could see an increase
in your premium because of the move. But the coverage is still the same. It's totally portable.
You don't have to worry about losing the policy. You don’t have to worry about going to underwriting.
That is your policy for the rest of your life. All right? And then again, I would also encourage
you to be sure to update your records. Most of you are paying your supplemental plans
through a bank draft, and so they're going into your bank account once a month and drafting
the premium.
And so if you move and you act and change banks where you close out one account, open
up a new one. Be sure to let that insurance company know what your updated routing number
is and your updated account number is because if they go to draft that, and that account
is closed because of your move, that policy is going to go into 30 days of grace. And
if that policy is not current, within 30 days of grace, they will cancel that policy. It's
actually the only way that a med supp plan can ever be canceled is non-payment of premiums.
So be sure to update your records. Now some of you are covered by advantage plans. These
are called C plans or replacement plans. Now, these plans are not portable. You cannot take
those with you because these plans are actually tied to a service area. Now, a service area
is typically a fairly sizable, large, major metropolitan area. All right? And all the
counties and zip codes typically within that metropolitan area. So if you move within the
service area, you typically do not have to change your advantage plans unless your service
area would include, like a state line, you have two states. If you move from one side
of the state line to the other, then you would have to change plans. But as long as within
the typical service area that's all within the same state, you probably will not have
to change your plan.
But if we move outside of the service area, and so we've moved away, then we're going
to have to change plans. And the way they make provision for this is they give you what
is called a special election period or special enrollment period. And this is a period of
time you have to switch plans. Now, it could be that your plan is available in that new
area, but it may not be. So you're just gonna have to simply find the very best plan in
the area that's going to fit your particular situation. But they make provision for this,
it’s called a mover. And that's the reason that you're doing this, to allow you to do
it. There's no health questions asked. You just simply move to the plan. Now, what you
also need to keep in mind is that there's a certain time to do this. Okay? You don't
want to do this 6 months after you move. They give you this time where you have the special
period; it's 30 days before you move and then 30 days after you move. So you have the 60
day window where you can move those plans and you can change them. OK, so that's the
time you would exercise a special enrollment period. So once you have an address and you're
preparing for the move or you've already moved, just be sure to set that new plan up during
that particular period of time.
All right. Now, drug plans. Now some of you have a drug plan that's just included in your
advantage plan, so that would apply up here. When you move the plan, you're also changing
drug plans as well as inpatient and outpatient providers and services. But some of you have
a drug plan that is separate. We call them stand-alone plans. So you have Medicare A
and B, probably a supplemental plan and a separate drug plan. All right? So it's not
portable like the supplemental plan. That stand-alone drug plan, again, is tied to a
service area. Again, a metropolitan area. And if you move outside the service area,
we have a special enrollment period. And again, the timing needs to be done within about 60
days of that particular move. OK? So these are treated just like the advantage plans
are. So you're going to have to change that drug plan. And again, that same drug plan
you're on may be in the area where you’re moving to, but it may not be. And so you are
just simply going to find the very best drug plan in that particular area that you've moved
to to meet your needs for your prescription medications. So, again, plans can be taken
with you. Some times are going to be changed totally. So depending upon how you've chosen
to use your Medicare, will determine the answer to that question. Will you have to change
plans when you move? Thanks for watching.