Are You Moving Out of State with Medicare?

If yes, there are a few things that you need to do before moving. To not lose coverage, you need to be sure to update Medicare. Did you know that all Medicare parts are not transferable between states, such as Part C and Part D? For some that are unaware of this, it could cause expensive penalties to impact you in the future.  

Medicare Supplement (Medigap)

Your zip code is the main factor for the monthly Medicare Supplement premium. Depending on where you move, your Medigap policy rate may change. You will also need to be aware of medical underwriting, which is the process of answering health questions. Based on your answers, insurance carriers can choose to accept or decline you.

Prescription Drug Plan (Part D)

If you have Medicare Part D drug plan, you will be required to apply for a new plan when moving to a different state. Every state is different with Part D, no matter if you go with the same carrier. Keep in mind that if you chose to not get a new plan, you may be penalized the next time you re-enroll.

Moving Timeline

For anyone with Medicare who moves to a new state, you are given a “Special Election Period”. This allows you to change your Part C or D plan.

You can switch plans one month prior to your move date if you notify your provider of the change before moving.

If you notify your provider after you move, your opportunity to change will begin the month that you told your provider through two extra months.

How can MWG Senior Services help you?

If you would like to talk with someone about insuring yourself from the costs of moving with Medicare, be sure to call MWG Senior Services at (877) 759-5760 or email seniorservices@morganwhite.com. Our team of advisors are ready to answer any questions you might have about this next step in life.