Leave “Advantage!”

You can leave Medicare Advantage on the first of every month.

Medicare Advantage companies may lead you to believe that you can only change to traditional Medicare once a year during open enrollment. It’s not true. Tell your Medicare Advantage company this month is your last month of subpar coverage and enroll or re-enroll in traditional Medicare.

When Can I Switch?

Remember, you can always make the change from Medicare Advantage to traditional Medicare at the first of every month. But there are also open enrollment periods during the year.

You can switch from your Medicare Advantage plan to traditional Medicare during the Medicare Open Enrollment period that runs October 15 to December 7.

When you make the switch back to traditional Medicare during the Medicare Open Enrollment period, the change will take effect on January 1 of the following year.

The second period when you can switch from Medicare Advantage to traditional Medicare is during the Medicare Advantage Open Enrollment period that runs from January 1 to March 31, and coverage will start the first of the first month after the plan receives your request.

Prepare to Switch

If you switch to traditional Medicare and you want prescription drug coverage through Medicare, you will also need to sign up for a stand-alone prescription drug plan (PDP) for your drug coverage right away. If you do not take this step, and you decide to sign up for Part D coverage later on, you may face a penalty for late enrollment.

When you switch to traditional Medicare, you may also want to consider purchasing a Medicare supplemental insurance policy, known as Medigap. Medigap policies help to pay your cost-sharing requirements under traditional Medicare. Depending on how long you have been enrolled in Medicare Advantage, Medigap insurers may not be required to sell you a policy unless you meet the medical underwriting requirements. You may want to contact a few Medigap insurers directly to see if you will be able to purchase a Medigap policy when you switch to traditional Medicare.

Make the Switch

Switching away from a Medicare Advantage plan and back to traditional Medicare is a two-step process.

1. Contact your current plan to cancel your enrollment. Here are phone numbers for some well-known providers:

2. Call 1-800-MEDICARE (1-800-633-4227) to discuss enrollment.

That’s it! Enjoy the peace of mind that comes from having your best coverage under original Medicare.

Have Questions? Ask Us!