THURSDAY, JANUARY 26, 2017
Medicare Advantage Disenrollment Period
The Medicare Advantage Disenrollment Period (MADP) lasts from January 1st through February 14th of each year. During the MADP, a beneficiary can switch from an MA plan to traditional Medicare. The MADP also provides an opportunity to enroll in a Medicare Supplement and/or Part D drug plan.
When disenrolling from an MA plan during the MADP, the effective date of disenrollment is the first day of the month following the date the disenrollment request is received. Thus, disenrollment requests received by MA organizations in January are effective February 1; those received February 1 through February 14 are effective March 1.
During the MADP, an individual using the MADP to disenroll from an MA plan is eligible for a special enrollment period (SEP) to enroll in a Medicare supplement/Medigap plan and/or stand-alone Part D prescription drug plan, regardless of whether the MA plan from which the individual disenrolled included the Part D drug benefit. It is important to know this enrollment period does not allow switching to another Medicare Advantage plan; it only allows one to switch back to original Medicare.
Regardless of the reason you may want to use the Disenrollment Period, it is important to understand the function of each type of coverage and the timeline. If you are not careful you may leave yourself with a gap in coverage, which should be avoided at all cost.
Book your Annual Review with Bill or his assistant:
Bill Gay: 386-846-4190
bill@suncoastlegacyadvisors.com
Kaitlyn Stafford: 386-957-7851
kaitlyn@suncoastlegacyadvisors.com
Posted 10:18 AM
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only.
It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional
in your state. By using this blog site you understand that there is no broker client relationship between
you and the blog and website publisher.
|