Millions of Americans switch Medicare Advantage plans each year or transfer to original Medicare during the open enrollment period that ends March 31.
However, you cannot switch from a traditional Medicare plan to a Medicare Advantage plan. You will have to wait until the fall registration period for that slot. The new coverage will come into effect on the first day of the month once the change request is received.
People are typically prompted to change plans after discovering that their primary care doctor or the hospital they want to use is no longer in their Medicare Advantage plan’s network.
“If you discovered that the Medicare Advantage plan you chose last year isn’t your best option after you started using it in January, do something about it right now,” Kimberly Lankford, a Medicare expert and author of “Medicare 101,” told Yahoo Finance.
“You might also find that some of your medications aren’t on the plan’s formulary, a big surprise at the pharmacy if a medication you take was removed. Not only will you have higher out-of-pocket costs, but you won’t be protected by the $2,100 out-of-pocket limit for drugs not covered by your plan.
It’s important to note that your health needs may have changed since you last reviewed your plan. You may have been prescribed new medications or developed a new medical condition, and you may have different coverage needs than you did when you were shopping for a policy in the fall, he added.
There are likely to be more boat jumpers for several reasons this year. Throngs of seniors are becoming aware of Medicare Advantage plans with reduced benefits and higher out-of-pocket costs, including deductibles.
Some Medicare Advantage plans have cut their dental and vision coverage, for example, and increased co-pays to see specialists. If you signed up for a gym membership through a Medicare Advantage plan, you may have been extremely surprised to discover that you are now ineligible for that free Pilates class entry.
Yoga instructor Rebecca Watson leads seniors in a Hatha water yoga class at Balfour in Riverfront Park in Denver. (Helen H. Richardson/The Denver Post via Getty Images) ·Helen H. Richardson via Getty Images
“Variations between plan premiums, copays and annual deductibles are unusually large, leading to large differences in out-of-pocket costs between plans,” Philip Moeller, a Medicare and Social Security expert who writes the Aging in America newsletter, told Yahoo Finance.
Insurers are also eliminating plans, hospital and medical systems altogether. There are still many options available, so don’t panic. This year, the average beneficiary can choose from 32 Medicare Advantage plans with prescription drug coverage offered by eight companies, according to KFF, a nonprofit health policy research organization.
The two largest Medicare Advantage insurers, UnitedHealthcare and Humana, will offer plans in about 80% of U.S. counties in 2026, up from nearly 90% this year.
The real concern is that you may not have realized that your plan is closing soon. “Some insurers are pulling out of certain geographic markets,” Moeller said.
One reason for the departures: “The Centers for Medicare & Medicaid Services (CMS) has taken private Medicare Advantage (MA) plans by surprise with plans to approve a paltry 0.9% increase in 2027 premiums,” Moeller said. “In addition to intensified criticism of plan pricing and care denial practices, they are pulling out of many parts of the country and reducing plan offerings.”
According to an analysis by researchers at the Johns Hopkins Bloomberg School of Public Health, one in 10 Medicare Advantage enrollees, or up to 2.9 million seniors, “will face forced disenrollment in 2026.”
Medicare Advantage plans are an alternative health insurance program to traditional Medicare for people age 65 and older. They are managed by private insurance companies and have increased in popularity.
Just over 35 million people are enrolled in Medicare Advantage as of February 1, 2026, an increase of 1.1 million people from February 2025. A big draw of Medicare Advantage plans is that they include coverage for benefits not included in traditional Medicare, such as drug coverage (Part D), eyeglasses, dental coverage, and fitness classes. Additionally, they often have very low or even no premium costs.
That’s tempting. This year, original Medicare Part B monthly premiums are $202.90 and the annual Part B deductible, which most people must pay before their Medicare coverage begins, is now $283.
There are disadvantages. Unlike original Medicare, under the Advantage plan, you are limited to a specific network of doctors and other health care providers, and those networks are constantly changing.
It is not unusual to be referred to a specialist who is not part of your Medicare Advantage plan’s network. In those cases, you need prior authorization to schedule an appointment or simply be prepared to pay the bill out of pocket.
A person leaves a health clinic. (Getty Images) ·Grant Squibb via Getty Images
For those considering switching to traditional Medicare, that decision requires some homework.
Regular Medicare has no limits on a variety of out-of-pocket costs, so it pays to sign up for supplemental protection with a private Medicare Supplement plan (medigap for short), Moeller said. “These plans will pay most approved claims for care that are not paid in full by original Medicare.”
The biggest coverage gap for many people is that original Medicare pays only 80% of expenses covered by Part B, which covers doctors, outpatient expenses and durable medical equipment, he added.
For that, you need a Medigap health insurance policy sold by private insurance companies that pays some or all of certain leftover costs. Medigap may cover outstanding deductibles, coinsurance, and copayments, and may also cover health care costs that Medicare does not cover at all, such as health care received when traveling outside the U.S.
The problem is that in most states, the guaranteed right to purchase a Medigap is limited to the time you first enroll in Medicare Part B. Medicare does not allow Medigap plans to turn you away or charge you a higher premium because of a pre-existing condition during that period. However, in most states, your premium will vary depending on factors such as your age, sex, and where you live.
The Medigap Guarantee policy is also good if you enrolled in an Advantage plan during your first year of Medicare but dropped out within a year and switched to traditional Medicare. After that, however, Medigap plans in most states can reject you outright if you have a preexisting condition, such as diabetes. The exceptions are New York, Connecticut, Maine and Massachusetts.
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If you need to make a change, you can start by contacting the State Health Insurance Assistance Program (SHIP) network, which provides free personalized advice in all states. You can find your local SHIP here.
The Medicare Rights Center offers a toll-free consumer help line: 800-333-4114. You can also contact Medicare directly at 800-633-4227.
You can research your options through the Medicare Plan Finder. Enter the medications you take and it will show you if they are covered by the Advantage plan. When you look at the different plans available where you live, you’ll see annual estimates of the cost of that plan based on the medications you entered into the tool.
If you have a limited income, you may be eligible for Extra Help from Medicare, which covers Part D premiums and deductibles and limits drug costs.
If a Medicare Advantage plan doesn’t provide coverage for the drugs you’re taking, but you’re not willing to switch to a new one, there may be alternatives, so ask your doctor if there are any drugs covered by your current plan that might work for you.
Kerry Hannon is a senior columnist for Yahoo Finance. She is a career and retirement strategist and the author of 14 books, including “Retirement Bites: A Generation X Guide to Securing Your Financial Future,” “In control at 50+: how to succeed in the new world of work,” and “You’re never too old to get rich.” Follow her on blue sky and unknown.
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