The short answer is no. Switching SIM cards will not work because the SIM card itself is tied to the serial number of the phone which is located on the phone's internal board.
Physically, all SIM cards are essentially identical, and can be exchanged from one card to another. However, Tracphones are programmed to only accept the SIM card that they are shipped with.
I just spent 40 minutes trying to understand the Tracfone service rep in India. The gist of the conversation is that they will not let me transfer the sim card to another phone. They say the phone and the card are a unit and can't be separated.
Yes you can all you would have to do first is save all of your stuff like contacts and things to your sim card and once you purchase the phone you can switch the sim out and it will work fine.