Dropping Medicare Advantage


If you’re dissatisfied with your Medicare Advantage plan, this is the time that you can drop it. There’s an open period from January 1st to February 14th that allows you to switch from an advantage plan to original Medicare.

It’s also possible to purchase a Part D drug plan to accompany original Medicare.

The rules are rigid about when you can drop a plan, switch or sign up for a new one. So if you’ve been thinking about it, now is the time to act.

And as part of the rule system, you can’t do the following during this period:

  • Switch from original Medicare to Medicare Advantage
  • Switch from one Medicare Advantage plan to another
  • Switch from one Medicare prescription drug plan to another
  • Join, switch, or drop a Medicare Medical savings plan

If you are switching, remember that original Medicare covers only 80 percent of your medical costs. It consists of Medicare Part A and Medicare Part B.

Part A covers:

  • Hospitalization
  • Nursing Care
  • Nursing Home Care
  • Hospice
  • Home Health Services

Part B covers:

  • Doctor Visits
  • Routine Medical Care
  • Preventive Care
  • Ambulance Service

Most people pay $104. 90 a month and the fee generally comes out of your Social Security.  The Part B deductible is about $147 a year.

Before you drop the Medicare Advantage plan consider that it may offer benefits that include

  • Dental
  • Vision
  • Hearing
  • Some insurers offer gym memberships and more

Your plan may also provide access to a 24-hour nurse helpline and disease management program to help you manage chronic conditions.

We’ve got a lot more detail in our Medicare posts

readmore Medicare Basics for Baby Boomers and Everyone Else

 


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Barbara Nevins Taylor

As the winner of 22 Emmy Awards and a slew of journalism honors and awards, I created ConsumerMojo.com to give you the straight story about complicated stuff. Tell us what you want to know and we'll get you the answers.