Medicare Advantage Disenrollment Period changed to Open Enrollment Period

Medicare Advantage Open Enrollment Period

Opportunities to change or disenroll from a Medicare Advantage plan are no longer limited to the Annual Election Period: the Oct. 15-Dec. 7

If you did not disenroll from your Medicare Advantage plan during the Annual Election Period and wish to do so, you should take advantage of the Medicare Advantage Open Enrollment Period, which begins on  Jan. 1 and continues until Mar. 31 each year.

Whether you joined a new Medicare Advantage plan or simply chose not to disenroll from a Medicare Advantage plan you were already enrolled in, you can make those changes during this Medicare Advantage Open Enrollment Period

During the Medicare Advantage Open Enrollment Period, you can:

  • Switch to a different Medicare Advantage plan
  • Drop your Medicare Advantage plan and return to Original Medicare (Part A & B)
  • Apply for a Medicare Supplement plan if you return to Original Medicare (Part A & B)
  • Enroll in a stand-alone Medicare Part D Prescription Drug Plan (only if you return to Original Medicare (Part A & B)

However, you will not be allowed to do the following:

  • Switch from Original Medicare (Part A & B) to a Medicare Advantage Plan
  • Join a Medicare Part D Prescription Drug Plan, if you are on Original Medicare (Part A & B)
  • Switch from one Medicare Part D Prescription Drug Plan to another, if you are on Original Medicare (Part A & B)

It is important to keep in mind that the MADP is designed to allow you to change or disenroll from a Medicare Advantage Plan. If you are not enrolled in a Medicare Advantage Plan, it does not provide the option of enrolling in a new Medicare Advantage plan. As a result, if you decide to disenroll from your current Medicare Advantage plan, you must be prepared to return to Original Medicare. If you decide to leave Medicare Advantage in order to return to Original Medicare, it is highly advisable to look into Medicare supplement (Medigap) plans, which are designed to help fill the many gaps in Original Medicare coverage.

It is important to look at Medigap options before disenrolling from your current plan. If you choose to leave your Medicare Advantage plan during the Open Enrollment Period, you should apply for a Medicare supplement early enough to learn whether your application is accepted prior to April 1st. Getting a free Medicare supplement insurance quote is an excellent way to start.

Unless you are prepared to be insured only by Original Medicare, you should not drop your Medicare Advantage plan until you are certain you will be able to get a Medicare supplement policy to replace it. Also, keep in mind that, because Medigap plans do not include drug coverage, enrolling in an affordable prescription drug plan is an important money-saving step to supplement your Medicare supplement coverage. If you leave any Medicare Advantage plan and return to Original Medicare during the Open Enrollment Period, you have the important option of enrolling in a stand-alone Medicare Part D prescription drug plan..

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Why consider switching from Medicare Advantage to a Medicare Supplement?

  1. Medicare supplement plans are budget-friendly, and known for being surprise-free. Your costs from month to month are easy to predict—and lower than you may think!
  2. Medicare supplements are noted for flexibility. They do not limit you to a network of healthcare providers.
  3. You are able to join a Medicare supplement plan at any time of the year. This means that if you choose to disenroll from a Medicare Advantage plan during the Jan. 1-Feb. 14 MADP and qualify for a particular Medicare supplement plan, you can be assured of Medigap coverage immediately upon returning to Original Medicare.

While switching from Medicare Advantage to Medigap is a good move for many people, this does not guarantee it is the best move for you.

Unless you have Medigap guaranteed issue rights, medical underwriting is likely to apply when you apply for a Medicare supplement plan. Private insurance companies may decide to exclude you from certain Medicare supplement plans if they think you pose too great a risk. Your State Health Insurance Assistance Program can tell you whether medical underwriting will apply if you want to join a particular Medicare supplement plan during the Open Enrollment Period.

If preexisting conditions or other medical considerations prevent you from enrolling in the Medicare supplement plan of your choice, it may be advisable to keep your current Medicare Advantage plan. The same may be true if you are looking for the lowest possible premiums—or no premiums at all—and are comfortable with the choice of providers within your plan’s network.

Changes made during the Jan. 1-Mar. 31 Medicare Advantage Open Enrollment Period normally take effect on the first day of the following month after change requests are received. For further information about the Open Enrollment Period for Medicare Advantage, give us a call today at 877-413-1556.

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