If you want a completely different Medigap policy (not just your old Medigap policy without the prescription drug coverage), or you decide to switch to a Medicare Advantage Plan that offers prescription drug coverage, you need to be careful about the timing. If you drop your entire Medigap policy more than 63 days before your new Medicare coverage begins, you will have to pay a late-enrollment penalty. You can join a Medicare Advantage Plan from November 15–December 31 each year.
