For your clients who get their supplemental Medicare insurance through private Medicare Advantage plans, the new year marks an important time if they’re unhappy with their plan.
Jan. 1 through Feb. 14 is the annual Medicare Advantage Disenrollment Period. This is when they can disenroll from a Medicare Advantage plan and then get their Medicare Part A and Part B through Original Medicare. But it’s important to know that disenrolling could lead to penalties or leave them without the coverage they need — both potentially costly mistakes.
As the name implies, this is only for people with Medicare Advantage plans, including those who have Medicare Advantage plans that include prescription drug coverage, called MA-PD plans.
Should your client decide to disenroll, the disenrollment from his or her Medicare Advantage plan goes into effect the first of the month after making the request.
If you have any questions or are considering disenrolling, call the Licensed Insurance Agents at Medicare BackOffice® at 1.877.385.8083. They can help your client explore their other options, avoid common and often costly mistakes when disenrolling, and see if a Medicare Supplement health insurance plan and prescription drug plan could be a better fit than Medicare Advantage.