UPDATED Jan. 30, 2019. The recent Medicare Interactive post Options for those whose Medicare Advantage or Part D plan is ending at the close of the year reviews the decision making process in the event your Medicare Advantage plan is ending. Here are the major points.
Options if Your Medicare Advantage plan is ending
- By the early October 2019, you should receive a letter from your Medicare Advantage plan if your plan is ending at the end of the year and will not be available next year. In any case, you retain your coverage until December 31, 2019.
- You may use the Medicare Open Enrollment Period which occurs from October 15 through December 7. During this time you may join a new Medicare Advantage plan (with or without a Prescription Drug Plan (PDP)) or switch to Original Medicare and join stand-alone PDP plan. Your coverage will begin January 1, 2020.
- Alternatively, because your plan does not renew its services and ending, you are entitled to Special Enrollment Period (SEP) running from December 8, 2019 through February 28, 2020.
- You may want to sign up for another Medicare Advantage plan or be automatically enrolled in Original Medicare.
- If you want to join another Medicare Advantage plan
- You can sign up for a new plan between December 8, 2019 and February 28, 2020. It is best to sign up for a new plan by December 31, 2019, so you can get coverage beginning January 1 of the next year. Otherwise, your coverage will start the first day of the month after you enroll.
- Most Medicare Advantage plans include drug coverage.
- You can sign up for a new plan between December 8, 2019 and February 28, 2020. It is best to sign up for a new plan by December 31, 2019, so you can get coverage beginning January 1 of the next year. Otherwise, your coverage will start the first day of the month after you enroll.
- If you want to enroll in Original Medicare
- You will be automatically enrolled by December 31, 2019, if you don’t enroll in a Medicare Advantage plan as discussed above. Your Original Medicare coverage will begin on January 1, 2020.
- By enrolling to Original Medicare, you may be eligible for a Medicare Supplement. Check your Medicare Supplement State Regulations.
- If you want to join another Medicare Advantage plan
- Decide whether you need prescription drug coverage. You may either sign up for a Medicare Advantage plan that offers drug coverage or you may sign up for a stand-alone prescription drug plan (Part D) that works with Original Medicare.
- If you want to join a Medicare Advantage plan, sign up for one that offers prescription drug coverage (see above)
- If you’re going to enroll in Original Medicare, sign up for a stand-alone Part D plan
- Try to sign up for a Part D plan by December 31, 2019, so you can have drug coverage beginning January 1 of the next year. You technically have until February 28, 2020, to sign up for prescription drug coverage. However, if you wait until January or February to enroll in the new plan, your coverage will start the first day of the month after you enroll.
- If you want to join a Medicare Advantage plan, sign up for one that offers prescription drug coverage (see above)
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