The Medicare Advantage Disenrollment Period is a 45-day time period in which consumers who have enrolled in a Medicare Advantage plan are allowed to switch from a Medicare Advantage plan to Original Medicare and a Supplemental Plan and Part D Drug Plan.
We are currently in the Medicare Advantage Disenrollment Period, which runs every year from January 1st through February 14th.
The Medicare Advantage Disenrollment Period serves as a consumer protection, since many who sign up for Advantage plans want to switch out to a Medicare Supplement & Prescription Drug plan shortly after they enroll.
For those who choose to disenroll during the Medicare Advantage Disenrollment Period, the effective date of their new coverage will begin on the first of the following month. So for those who disenroll and sign up for new coverage in January 2017, their new plans will take effect February 1st 2017. The Medicare Advantage Disenrollment Period is considered a Special Enrollment Period (SEP), for those signing up for a Medicare Supplement and Prescription Drug plan.
The process for disenrolling in a Medicare Advantage plan is simple. You can call the plan you are signed up with and let them know. If you do this, be sure you mark down the date, time and name of the person you spoke with to disenroll. You can also call 1-800-MEDICARE to disenroll. Lastly, you can call the specialists at Plan Medicare 516-900-7877 to enroll in a Medicare Supplement and Prescription Drug plan, which will automatically disenroll you in your Medicare Advantage plan. One important thing to note- if you choose to disenroll and you do not take a Part D plan and do not have alternative creditable coverage, you will be charged with a late enrollment penalty should you choose drug coverage at any point in the future.
If you are currently enrolled in a Medicare Advantage plan and are not 100% happy with your coverage, it’s important to speak with a Medicare specialist who can help discuss and outline your alternative options. Take advantage of the Medicare Advantage Disenrollment Period by calling Plan Medicare 516-900-7877.