There might be a situation when you have chosen for a Medicare advantage plan, but after a few years feel it’s not doing enough for you, and want to switch back. Well, yes you can switch from a Medicare advantage plan to a Medigap plan. Although the procedure is a multi-process one and a bit tedious it is possible. Before discussing how you can change back let’s have a look at the major difference between the two plans. Unsure of the costs? Check rates by visiting https://www.2020medicareadvantage.com
A Medicare advantage plan is basically a plan which provides all of the services that an original Medicare part A and part B provides and some additional benefits like dental services, vision, fitness centers, transportation costs etc. Most of the advantage plans cover part D that is prescription drugs as well. It basically adds to your original care.
Whereas, a Medigap plan is one which Medicare Advantage plans your Original Medicare plan A and plans B. It usually provides all of the services that the original Medicare services along with over the counter expenses like copayments, deductions, etc. they do not cover part D of the medical care, that is prescription drugs.
Although both Medigap and Medicare Advantage plans are provided by private companies they differ greatly in how they perform and work. Depending upon your requirements you can choose any plan to assist your Original Medicare plan.
Now, the most important question – When can I switch my plans. Well, to switch from an advantage plan to Medigap plan you would first need to drop your advantage plan off and return back to the original Medicare plan. This can be done at two times. Either during the OEP (Open Enrollment Period) or the AEP (Annual Election Period).
However, in case of an emergency, the rules can be mended and you can leave your plan in between. Emergency situations include if you are moving out of your province and the plan does not cover your new location, or if the plan moves out of your network, or ends its agreement with Medicare.
Once you have dropped your advantage plan you can easily apply for the Medigap plan, and in most cases, it would be assigned to you and made accessible without much trouble.
It is always recommended to choose your plans wisely which would fulfil your requirements and needs, including your prescription drugs. Switching between two plans is not much of a recommended choice according to experts. This is because in the process you might lose your guaranteed-issue rights.