Want to know answer to your question? “Do I Need to Renew My Medicare Plan ” then it is the right place.
If you are part of the original Medicare that is Medicare part A and B then you don’t need to renew your plan every year. Whenever you pay your necessary premium the plan continues automatically. Every year during the annual election period between October 15 to December 7 you can change your plan from Medicare Advantage plan and prescription drug plan. Some exceptions are mentioned below
when you have to renew your Medicare coverage?
Generally Medicare advantage plan and Medicare prescription drug plan sometimes don’t renew your plan automatically. Then you have to renew your plan. There are some conditions where you need to renew your Medicare coverage
- If your plan reduces its service area, and you become outside of the coverage area.
- If your plan quit the Medicare program in the middle of the year.
- If your plan doesn’t renew its Medicare contract by mistake for the upcoming year.
- Medicare terminated their contract with you.
If your plan isn’t renewed by your service provider then you have to do this during the special enrollment period which is December 8 to the last day of February Of that year. If you have a subscription of a Medicare advantage plan and you don’t renew your current plan then you automatically return to original medicare.
When your plan ends you will still get 3 months of special enrollment period. In this time you can review your plan very well and if you want to change your plan then you can definitely do that.
If you don’t pay attention to the time window and if it is overcome then you have to pay a late enrollment penalty for delayed renewal.
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