Millions of Americans switch Medicare Advantage plans or switch to Original Medicare each year during the open enrollment period that ends March 31.
However, you cannot switch Medicare benefits from a traditional medical plan. You must wait until the fall enrollment period for this change. The new coverage will take effect on the first of the month when the change request is received.
People are typically motivated to move plans after finding out that the physician or hospital they want to use is no longer in their Medicare Advantage plan’s network.
“If you find that the Medicare Advantage plan you chose last year isn’t your best choice after you started using it in January, do something about it now,” Kimberly Lankford, a Medicare expert and author of “Medicare 101,” told Yahoo Finance.
“You may also find that some of your medications are not on the plan’s formulary — a big surprise at the pharmacy if any of the medications you’re taking have been discontinued.
Importantly, your health needs may have changed since you last reviewed your plan. She added that you may have been prescribed a new medication or developed a new medical condition, and you may have different coverage needs when you shop for a policy in the fall.
There will likely be more boat jumpers this year for a number of reasons. A group of seniors is waking up to Medicare Advantage plans with reduced benefits and higher out-of-pocket costs, including deductibles.
Some Medicare Advantage plans have reduced their dental and vision coverage, for example, and raised co-pays for seeing specialists. If you’ve signed up for a gym membership through a Medicare Advantage plan, you may have been pleasantly surprised to find out that you’re now not eligible for free admission to a Pilates class.
Yoga instructor Rebecca Watson leads seniors in a hatha aqua yoga class at Balfour Riverfront Park in Denver. (Helen H. Richardson/The Denver Post via Getty Images) ·Helen H. Richardson via Getty Images
“The differences between plan premiums, co-payments, and annual deductibles are unusually large, leading to large differences in out-of-pocket costs between plans,” Philip Mueller, a Medicare and Social Security expert who writes for the Age of America newsletter, told Yahoo Finance.
Insurers also exclude plans, hospital systems and doctors altogether. There are still plenty of options, so don’t panic. This year, the average beneficiary can choose from 32 Medicare Advantage plans offered by eight companies with prescription drug coverage, 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 by 2026, down from nearly 90% this year.
The main concern is that you may not have seen your plan close so soon. “Some insurers are pulling out of certain geographic markets,” Mueller said.
One reason for the departure: “The Centers for Medicare and Medicaid Services (CMS) has turned a blind eye to private Medicare (MA) plans approving a modest 0.9% increase in 2027 premiums,” Mueller said. “On top of heavy criticism of the plans’ pricing and practices denying care, they are moving from many parts of the country and reducing plan offerings.”
According to an analysis by Johns Hopkins Bloomberg School of Public Health researchers, one in 10 Medicare enrollees, or up to 2.9 million seniors, “face involuntary homelessness in 2026.”
Medicare Advantage plans are alternative health insurance programs to traditional medical care for those 65 and older. They are run by private insurance companies and have increased in popularity.
As of February 1, 2026 alone, more than 35 million people have enrolled in Medicare, an increase of 1.1 million people since February 2025. A major draw of Medicare Advantage plans is that they include coverage for benefits that are not included in traditional Medicare, such as drug coverage (Part D), eyeglasses, dental health coverage, and more. Additionally, they often cost very low or even no premiums.
This is interesting. This year, monthly Original Medicare Part B 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 flaws. Unlike Medicare, depending on the benefit plan, you are limited to doctors and other health care providers, and those networks are always changing.
It is not unusual to be referred to a specialist who is not part of your Medicare Benefit Plan’s network. In these cases, you need prior authorization to make an appointment, or must simply be prepared to pay the bill out of pocket.
A man leaves a health clinic. (Getty Images) ·Give the scoop via Getty Images
For those considering a switch to conventional medicine, this decision takes some homework.
Regular Medicare doesn’t have a cap on various out-of-pocket costs, so you’ll want to enroll in supplemental coverage with a private Medicare supplement plan — Medigap for short, Mueller said. “These plans will pay many approved claims for care that is not fully covered by Medicare.”
The biggest coverage gap for many people, he added, is that Medicare only pays 80% of covered costs for Part B, which covers doctors, outpatient costs, and durable medical equipment.
For this, you need a Medigap health insurance policy sold by private insurance companies that pays part or all of some of the remaining expenses. Medigap can cover significant deductibles, coinsurance, and co-pays, and it may also cover health care costs that Medicare doesn’t cover at all, such as medical care received while traveling outside the United States.
The problem is that in most states the right to buy Medigap insurance is limited to when you first sign up for Medicare Part B. Medicare does not allow Medigap plans to deny you or charge you a higher premium due to a pre-existing condition during this period. In most states, your premium, however, varies based on factors such as your age, gender, and where you live.
A guaranteed Medigap policy is also good if you enrolled in a benefit plan during the first year of coverage but dropped out within a year and switched to traditional coverage. After that, though, Medigap plans in many states can deny you if you have a pre-existing condition, such as diabetes. Exceptions are New York, Connecticut, Maine, and Massachusetts.
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If you need to change, you may want to contact your state’s Health Insurance Assistance Program Network (SHIP), which offers free counseling in every state. You can find your local bar here.
The Medical Rights Center offers a toll-free consumer helpline: 800-333-4114. You can contact Medicare directly at 800-633-4227.
You can explore your options through the Medicare Plan Finder. Enter the drugs you take, and it will show you if they are covered by the benefit plan. When you look at different plans where you live, you’ll see annual cost estimates for that plan based on the drugs you’re enrolled in.
If you have limited income, you may be eligible for Medicare Supplemental Assistance, which covers Part D premiums and deductibles and drug costs.
If a Medicare Advantage plan doesn’t provide coverage for a drug you’re taking, but you’re reluctant to jump to a new drug, there may be alternatives, so ask your doctor if there are drugs covered by your existing plan that would work for you.
Kerry Hannon is a senior columnist at Yahoo Finance. She is a career and retirement strategist and author of 14 books, including “Retirement Bites: Gen X’s Guide to Securing Your Financial Future,“”In Control at 50+: How to Succeed in the New World of Workand “Never be too old to be rich.” Follow him bluesky and X.
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