Although Open Enrollment might have ended for you, it does not mean that you’re entirely out of the time. The annual disenrollment period exists for seniors who want to leave their Part D and/or Medicare Advantage plans. Even though it might confuse you that the period for open enrollment just ended, you are allowed to leave Part C and/or D entirely during the disenrollment period. Talking of the open enrollment period, it lets beneficiaries change carriers & plans once every 12 months. The person is also eligible to leave the plan within the open enrollment period, however, the 1st of Jan through the 14th of Feb allows you a second opportunity to leave Part C or Part D Medicare Plan.
There are 3 scenarios where an individual can switch: The first one is for people with an Advantage plan which features a drug coverage. These people have the option to buy a stand-alone Part D coverage or simply wing it with the basic Medicare (not recommended). The latter is for people with the private fee for the service plan (excluding the coverage for prescription drugs). In case this is you, sadly you will not be able to buy Part D until the next October, but you can definitely go back to the basic Medicare. Now, assume you’ve purchased just the Part D policy. Like mentioned above, you won’t be eligible for switching plans or companies until the following year, but, you could end in Part D if required. Thus, you will be able to dis-enroll from Medicare Part C & D for switching back to the basic Medicare. Find out more at https://www.medicareadvantageplans2019.org
Some might ask, what happens after the disenrollment? The good news is, you can either stay with your initial Medicare or act wise and get a Medicare Advantage Plan. However, before you disenroll, ensure you are eligible medically for this plan. In case you already have a advantageal plan and would like to change your carrier or plan, you do not have to wait for any specific period since the advantageal plan is very flexible. Meaning you are able to switch at the date of your choice. Part C and Part D are the only advantage plans which have some restrictions. In case you no longer wish to pay for the unexpected rise in the cost of Medicare Advantage, it’s best to make a switch to the advantage plan!