Rachel called our office in a panic, and as our Client Care Team answered the phone, she was beside herself! "I'm losing my Medicare plan! I just got a letter telling me I have 60 days to get a new one! What's going on?"
Patti on our team, immediately started to review a few questions so we could narrow down exactly what was happening. We soon discovered the issue. Rachel had moved out of her service area for her Part D prescription drug plan. While her Medigap plan was national, drug plans are geographically sensitive. She had moved from Nevada, back home to Georgia to be near her family and grandkids.
Rachel was set up for a meeting with her advisor, and we updated her new home address, zip code, county, and state. After running the research for available plans using her new address, the answer turned out to be simple! The same plan she was on in Nevada was available in Georgia! We merely had to submit a new application reflecting her change in address. In her case, it was a simple fix! Needless to say, she was relieved and said, "You guys always make it so easy"!
Moral of the story: If you move, be sure to give us a call to ensure your plan can go with you. If not, it gives us the opportunity to research plans at your new address and make sure there is no gap or loss of coverage. Medicare Advantage and Part D plans are geographical sensitive. No need to panic! Call us! We can help!
By American Retirement Advisors
American Retirement Advisors helps retirees and pre-retirees navigate Medicare, estate planning, and retirement income — so you can enjoy the retirement you've earned.
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Easy Eddie's Take
Rachel's story is something I hear all the time, especially from folks moving to be closer to family in retirement. Here's what's important to know: when you move to a new state or even a new county, you qualify for a Special Enrollment Period that gives you 63 days from your move date to make changes to your Medicare Advantage or Part D prescription drug plan without penalty.
Most people are surprised when they learn that Medicare Supplement plans (like Medigap) work nationwide, but Medicare Advantage and Part D plans are tied to specific service areas determined by the Centers for Medicare & Medicaid Services. Think of it this way: your local networks and pharmacy coverage change when you change your zip code, so your plan options change too.
The good news is that moving gives you a chance to review all your options in your new area and potentially find even better coverage or lower costs than what you had before. A little preparation during your move can save you from any coverage gaps down the road.