Question: Is the Medicare
Annual Disenrollment Period (January 1 through February 14, 2012) the only time
one can drop the Advantage plan? I mean, jobs run out or situations change
meaning less money during the year. What if you can’t afford it any longer in
the middle of the year?? Thanks.
Answer: During
the period of Jan. 1 to Feb. 14, an existing Medicare Advantage member can
dis-enroll from their Medicare Advantage plan and go back to original Medicare
and a standalone part D plan if they do not have other creditable coverage
(meaning Rx coverage at least as good as the standard Part D plan offered by
Medicare). Medicare Annual Enrollment (October 15 through December 7) is
also a time you may make changes to Medicare Advantage and Part D plans.
The situation you refer to of
change in finances could fall under a Special Election Period (SEP) that would
offer extra help to pay premiums and would allow the member to make changes.
Special Election Periods are available for people who qualify for extra help;
who move to or are in a nursing home; who move out of a service area or who
lose other coverage.
It’s a good idea to confirm and never
assume your situation qualifies for an SEP. The more you know the more options
you have.
For answers to your Medicare
Questions or for a quote on a Medicare Supplement or Part D plan visit www.MedicareAnswersfromConnie.com
