Can I Go Back to Original Medicare After Medicare Advantage?

Switching from a Medicare Advantage Plan to Original Medicare can be a significant decision. At Virginia Insurance Advisors, we're here to help you understand your options and guide you through the process. If you're considering making a change, you might have questions about how to switch back to Original Medicare and what this means for your coverage. Let's dive into the details.

Understanding Medicare Advantage Plans

Medicare Advantage Plans, also known as Part C, are an alternative to Original Medicare. These plans are offered by private companies and include both Part A (hospital insurance) and Part B (medical insurance) coverage. Some plans also include Part D (prescription drug coverage).

• Medicare Advantage Plans often offer additional benefits not covered by Original Medicare, such as vision, hearing, and dental services.

• These plans typically have a network of doctors and hospitals you must use to get the lowest costs.

• Premiums for Medicare Advantage Plans may vary based on the coverage and services offered.

While Medicare Advantage Plans can be beneficial, there might be reasons why you want to switch from Medicare Advantage back to Original Medicare.

When to Switch from Medicare Advantage

If you're considering switching from a Medicare Advantage Plan to Original Medicare, timing is crucial. You can only make changes during specific periods:

• Annual Enrollment Period (AEP): From October 15 to December 7, you can switch from a Medicare Advantage Plan to Original Medicare.

• Medicare Advantage Open Enrollment Period: From January 1 to March 31, you can switch to another Medicare Advantage Plan or return to Original Medicare.

• Special Enrollment Period (SEP): Certain life events, like moving or losing other insurance coverage, might qualify you for an SEP.

Consider your healthcare needs and whether your current plan meets them before making a decision.

Steps to Switch to Original Medicare

Switching back to Original Medicare from a Medicare Advantage Plan involves a few key steps:

1. Contact your current plan provider to disenroll from your Medicare Advantage Plan.

2. Enroll in Original Medicare during the appropriate enrollment period.

3. Consider enrolling in a Medicare Part D prescription drug plan, as Original Medicare does not cover prescription drugs.

4. Evaluate whether a Medicare Supplement (Medigap) plan is right for you to help cover additional costs.

It's essential to understand that if you return to Original Medicare, you may lose some of the additional benefits provided by your Medicare Advantage Plan.

Medicare Advantage to Medigap Without Delay

If you're switching from Medicare Advantage to Original Medicare and want to add a Medigap Plan, timing is vital:

• Switch during the Medigap Open Enrollment Period, which starts the month you turn 65 and are enrolled in Medicare Part B.

• If you're outside this period, you might face medical underwriting or be denied coverage based on your health.

• Consider your current health status and financial situation when choosing a Medigap Plan.

Medigap Plans can help cover costs like copayments, coinsurance, and deductibles not covered by Original Medicare.

Why You Might Want to Switch

There are several reasons you might choose to switch back to Original Medicare from a Medicare Advantage Plan:

• Provider Freedom: Original Medicare allows you to see any doctor or hospital that accepts Medicare, unlike Medicare Advantage Plans, which may have network restrictions.

• Lower Out-of-Pocket Costs: Depending on your healthcare needs, Original Medicare with a Medigap Plan might result in fewer out-of-pocket expenses.

• Comprehensive Coverage: Some individuals find that a combination of Original Medicare, a Medigap Plan, and a Part D prescription drug plan offers the comprehensive coverage they need.

It's important to weigh the pros and cons of each plan type based on your personal healthcare needs and financial situation.

We're Here to Help

Deciding whether to switch back to Original Medicare from a Medicare Advantage Plan can be complex. At Virginia Insurance Advisors, we're committed to helping you make the best choice for your health and budget. Our knowledgeable team is ready to answer your questions and guide you every step of the way.

Call us today at (804) 613-6153 or visit our Amelia Court House, VA location to discuss your Medicare options. Let us help you find the right Medicare Plan for your needs.