Monday, December 12, 2011

Medicare Advantage - Oops! I Made a Mistake

Did you buy a Medicare Advantage during open enrollment and now regret it? The Medicare Advantage Disenrollment Period begins in January and ends on February, 14.

Your doctor does not accept that MA plan and you feel you are stuck.

Not necessarily.

Home AloneIf you signed up for an Advantage plan and now regret it, you will want to return to original Medicare with a wide choice of doctors. Good news! You can disenroll from your Medicare Advantage plan between January 1 and February 14.

You an disenroll by doing any of the following:

  • If you have a MAPD (Medicare Advantage with Part D) you can send a letter to your carrier telling them you wish to disenroll. You can also enroll in a new Part D plan which will automatically disenroll you from the MAPD.

  • If you have an MA plan without Part D, you must request disenrollment from your MA plan which will start an SEP (Special Enrollemnt Period) allowing you to enroll in a new PDP.

Disenrolling in an MA plan may also trigger a GUARANTEED ISSUE situation allowing you to enroll in any Medigap plan without answering health questions.

If you enrolled in an Advantage plan for the FIRST TIME, either when you first became eligible for Medicare Part B or you left Medicare to join an Advantage plan. If you leave the Advantage plan during the first 12 months you may have a guaranteed right to return to Medicare and a Medigap plan.

You should apply for a new Medigap plan no later than 63 days following the end of your Medicare Advantage coverage. Your new Medigap plan cannot become effective before the date of your application.

You may also have other guaranteed rights to purchase a Medicap plan without answering health questions. Call us. We can help.

Even if you do not have a guaranteed right to purchase a GA Medigap plan you may still qualify if you are in reasonably good health. We have helped people age 80 and younger find an affordable Medigap plan once we determine they still qualify.
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