The Medicare Advantage Disenrollment Period (MADP) is one of many timelines to understand as a Medicare beneficiary. Here are the top five things you need to know about the Disenrollment Period.
1) The Medicare Advantage Disenrollment Period runs from January 1st – February 14th every year. If you plan to take action during the period, do so near the beginning to avoid any delays.
2) If you have a Medicare Advantage plan (Part C), you can switch to Original Medicare during this time. This is the only true action that can happen as a result of the MADP. If you have a Medicare Supplement plan, you are able to apply for a new plan at any point throughout the year.
3) If you choose to change from a Medicare Advantage plan to Original Medicare during the MADP, the change becomes effective the first day of the following month.
4) During the MADP, those switching out of a Medicare Advantage plan do not have any special rights to enroll into a Medicare Supplement plan. Guaranteed Issue Rights exist, but not for this specific situation.
5) To avoid a lapse in coverage or other unnecessary issues, work with an agent licensed in your state. They will be able to provide advice on the MADP and any surrounding issues.
If you have a Medicare Advantage plan and are considering changing during the MADP, feel free to call us at 888-986-1811. We are here to help!