Medicare helps millions of Americans get the healthcare they need, but unfortunately, choosing the right plan can often be confusing. One big decision you’ll have to make is whether to enroll in Medicare Advantage (also called “Part C”) or to stick with your Original Medicare and add a supplemental Medicare (Medigap) policy.

If your Medicare Advantage plan is not meeting your healthcare needs anymore, you might want to switch to Medigap. This can be a good idea for many seniors, but it’s important to know how to do it and when. Below, this supplemental insurance agency in Highland, Indiana is going to explore some of the key things you should know if you are thinking about switching from Medicare Advantage to Medigap.

Why should you even consider switching to Medigap?

Medicare Advantage plans bundle coverage from Original Medicare — Medicare Parts A (hospital insurance) and B (medical insurance). Sometimes, these plans also include additional benefits like dental, vision, and prescription drugs. However, because these plans are managed by private insurance companies, they might have specific provider networks and regional restrictions, which can really limit your choices when it comes to doctors and hospitals.

On the other hand, Medigap plans work alongside Original Medicare to help cover out-of-pocket costs like deductibles, copayments, and coinsurance. With Medigap, you usually have more freedom to choose which doctors and hospitals you can visit because there are fewer network restrictions.

Many people decide to switch from Medicare Advantage to Medigap simply because they want more choices for doctors and more predictable healthcare costs. An experienced supplemental insurance agency in Highland, Indiana can help you look at your options and make a good decision.

When can you switch from Medicare Advantage to Medigap?

You should know when you can switch from Medicare Advantage to Medigap. There are specific periods during the year when you can make this change without any penalties or restrictions.

One of those periods is from October 15 to December 7, which is called the Medicare Open Enrollment Period. During this period, you can disenroll from your Medicare Advantage plan and go back to Original Medicare. Once you have switched to Original Medicare, you can apply for a Medigap policy. One thing to remember here is that Medigap does not cover prescription drugs, so you might also need to enroll in a standalone Part D plan for drug coverage.

Another time you can switch is from January 1 to March 31, during the Medicare Advantage Open Enrollment Period. This is when you can drop your Medicare Advantage plan and return to Original Medicare.

In addition to the standard enrollment periods, certain life events can trigger a Special Enrollment Period (SEP). For example, if you move to a new place, lose your other insurance, or leave a nursing home, you can use a SEP. In other words, you can make changes to your Medicare coverage outside of the usual enrollment windows.

What should you expect when switching to Medigap?

Switching from Medicare Advantage to Medigap is not always as easy as making a phone call. There are some steps to follow. First, you have to disenroll from your Medicare Advantage plan by calling your insurance company, calling Medicare, or visiting your local Social Security office. After you have left your Medicare Advantage plan and are back on Original Medicare, you can start looking for a Medigap policy.

If you are switching to Medigap outside of your initial enrollment period, you might have to face medical underwriting. If that happens, insurance companies can evaluate your health and decide whether to offer you coverage or charge you higher premiums, so it is important to be aware of this possibility before you decide to switch.

A supplemental insurance agency in Highland, Indiana can guide you through the underwriting process, help you find a plan that meets your needs, and make sure you are getting the best possible coverage.

Looking for a Supplemental Insurance Agency in Highland, Indiana?

Are you ready to explore your options? Ready to sit down with the most trusted supplemental insurance agency in Highland, Indiana? If so, Senior Care Insurance Services is the place to visit. Contact SCIS today to schedule an appointment.